NKP 0.00% 9.9¢ nkwe platinum limited

a goldie of a deal., page-19

  1. 5,657 Posts.
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    Not interest you say. May be I'm reading the ASX releases wrong.

    19 Sept 07

    Australian platinum company Nkwe Platinum Limited (?Nkwe? or ?the company?)
    has signed an Option Agreement with Genorah Resources (Pty) Ltd (?Genorah?),
    its black controlled South African partner, to acquire a 59% interest in the
    prospecting rights to three platinum group metal (?PGM?) farms on the Eastern
    limb of the Bushveld Complex (refer Location Map).
    The signing of this agreement will consolidate Nkwe?s position in the Eastern limb
    of the Bushveld Complex, regarded as the world?s premier platinum group metal
    producing region.
    The farms the subject of the agreement are Hoepakrantz 291KT, Nooitverwacht 324KT and Eerste Geluk 327KT, which are contiguous with the Company?s existing farms De Kom and Garatouw. The acquisition of a significant stake in
    these new Farms consolidates the Company?s land holding in this highly prospective zone, which is located down dip to the adjacent Anglo Platinum?s
    Modikwa and Implat?s Marula Platinum mines, and contains a strike length of about
    30 km.

    22 Oct 07. with drill updates.

    More than 13,000 metres of core has been drilled on Eerste Geluk (>7,400m) and
    Nooitverwacht (>5,600m). These metres represent 13 completed holes, 9 holes in progress and 46 deflections

    27 Nov 07 Ann report.

    PROJECT ACQUISITION ? HOEPAKRANTZ, NOOITVERWACHT AND EERSTE GELUK
    Subsequent to the end of the financial year, the Board of Nkwe announced that it had entered into an Option
    Agreement with BEE Company, Genorah Resources (Pty) Ltd, to acquire a 59% interest in the prospecting
    rights to three platinum group metal farms on the Eastern limb of the Bushveld Complex.
    The farms that are the subject of the agreement are Hoepakrantz 291KT, Nooitverwacht 324KT and Eerste
    Geluk 327KT, which are contiguous with the Company?s existing farms De Kom and Garatouw, which were
    acquired under a separate transaction (refer Note 7). The acquisition of a significant stake in these new
    Farms consolidates the Company?s land holding in this highly prospective zone, which is located down dip
    to the adjacent Anglo Platinum?s Modikwa and Implat?s Marula Platinum mines, and contains a strike length
    of about 30 km, as shown in the diagram below.

    31 Oct 07 Cash flow report.

    Nkwe enters into 18 mnth option agreement to acquire a 59%
    interest on the three Genorah Platinum farms, Eerste Geluk,
    Nooitverwacht and Hoepakrantz. The farms are adjacent to Nkwe?s
    existing farms, De Kom and Garatouw;

    The South African Department of Minerals and Energy confirmed
    that Genorah holds a valid prospecting right over the five farms: De
    Kom, Garatouw, Hoepakrantz, Eerste Geluk and Nooitverwacht.





 
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