bermuda looks nice, page-41

hoofa

re your concerns

1.the number of shares will be immaterial once Xstrata sign the JC agreement and proceed with mine development.The next placement will occur once the sp has risen beyond $1 in my opinion.Funds wil be used for new ventures therefore again not an issue.

2.the is no perception re where NKP HO is.

The registered office is in Bermuda. The Aust office cis in Perth and the management team and mines will be in Sth Africa. Check out other Aust platinum stocks and you will see a similar setup. Not an issue for Institutions.

3.Delays in communication are only because they need to please Xstrata on finite details. Its only a minor issue in the scheme of things.

4.NKP have successfully negotiated with Xstrata to date. Asset sold, JV agreement in pipeline. What else do you want?
The only issue may be from a takeover over perspective whether they can extract $2-$3 per share.

Wish move in continuing to hold at this late stage.BFS due any day.