nkwe capital raising, page-21

Hi JordanRivers,

Asked my broker on the possible JV already. In fact I have been speaking to him about the possible JV since the stock re-listed.

His answer is that the JV talk from PL has been going on for the past 12 months. There were quite a few investors that he knew of that purchased Nkwe at 50cents+ on the JV potential.

I am also told that PL group of backers have had quite a history of "leaking information". If indeed there is 'massive" news imminent there is going to be movement in the volume already.

On the upside, of course I know that it can be $1+ if Xstrata/Anglo or whoever signs up a favourable JV deal. This was also the thinking of those who must have bought in at 50-60c. The JV talk has been on the cards for the last 18 months so when you hear "imminent" it kinda gets a little old.

Even if there is no placement (for now) then Nkwe still has to face the fact that more funds are needed in the coffers. Someone mentioned a convertible note ...this could be a possibility.

My broker has been very good to date. Yes he has made blunders but overall record has been even better than excellent.

If the call is wrong and the share price heads well above current levels then so be it. That is life. And well done to all those that made money.

I will be on the sidelines watching.