nkp valuation, page-34

Thanks researcher.

Here it is from the 2010 Annual.


During the year ended 30 June 2009, an option agreement was entered into with International Goldfields
Limited (?IGC?) in respect to IGC?s 15% interest in the Tubatse project in which 2,500,000 shares were
issued to IGC. These shares were valued at A$2.25 million based on the share price on 6 August 2008
being the date in which the option agreement was executed. Under the option agreement, the Company
extended the option period for a further six months and in return, issued a further 2,500,000 shares to IGC
which were valued at $0.155 per share being the share price on the date the option was extended.

I thank what happened to the merge might have been X as it never got a mention again.