twp dragging heels, page-55

MACLEOD 222: Thank you for the civilised response to my post, compared to the emotional diatribe from some others. Like many others, I am looking for stocks to buy that are undervalued that have a high probability of being revalued in the near future. Its in this context that I raised the issues in my post. I agree with the comment at the end of your post: ?Directors often tell part of the truth. It's the "whole truth" that we seek?.
Re. Hong Kong listing I refer you to the company announcement of 27 May 2010
? Nkwe has appointed Helmsec to assist with a dual listing of the Company on the Hong Kong Stock Exchange (HKEx) during Q42010 in conjunction with the Company?s planned
listing on the Johannesburg Stock Exchange. ??.Nkwe is also pleased to announce that it has completed a successful placement with select institutional investors (targeted for the proposed Hong Kong listing) for a placement of securities from the Company to raise A$10m at an issue price of A$0.50 per share with a attaching unlisted option ($0.50, 30 June 2012) for every 2 ordinary fully paid shares subscribed for.

Re. your comment about transparency, I don?t dispute that the company has (as is legally required) outlined related transactions in the annual report. The purpose of the money being paid to Landau is clear. That is not the case with other directors. Its only a minor point, but possibly unfairly raises a level of discomfort for people like me who are more suspicious of how business is done in developing countries. But I recognise that?s part of the risk reward equation.

The point of my post is to try to determine whether to invest given what appears to be a massively underpriced company. Most people seem to believe that the only thing holding the price back is the release of the BFS. My tendency is to agree. But 2 things I noted in my post were that this didn?t happen when the agreement with xstrata occurred in 2008, nor when the feasibility study was released in February 2010.
The other issue I raised was the ?court case?. I raised it because it may the other, or main reason for the price being basically range bound all year. I have actually read the annual report, other announcements and presentations as well as posts on Hot Copper but haven?t found anything substantial. I?m sure there is more research I could do. But one of the advantages of a forum like Hot Copper, is that we can help one another to save time by offering information and advice.