back in nkwe platinum, page-24

I wrote a post thinking Nkwe had applied for a mining right sometime last month because of the Gazette advertisement, just thought I should correct that after reading reports more thoroughly, they actually applied mid to late December 2010. After the DMR new computer based system came on line the DMR expected applications to be processed in six months instead of the usual twelve so it shouldn't be to far off.

Now this is what I'm guessing, PL informed some people and in the last quarterly that joint venture negotiations are nearing completion, my guess is that the parties are waiting on a mining rights to be issued before signing off on it. A similar thing took place at Wesizwe with Jinchuan getting a major stake via a share issue and offering finance for the project one month after Wesizwe received a mining right. Now obviously the two were in negotiations before that.

Some comments are that Nkwe are only in preliminary talks but if Hoepakrantz now forms part of the Garatau project as per the mining application this must have been negotiated back in December so having said that eight months of talks is by no means preliminary. But now the world markets have taken a battering so the timing couldn't of been worse.