Here's a copy of a letter I wrote last night. Response was short, sweet and postive. Wasnt a pump and dump, ramp or inside information and most has been disclosed in release's before. Appears I'm correct in my assumption.
Hello Peter
I have a 63 page document between African Rainbow Minerals & Exploration Investments and Anglovaal Mining Limited signed on the 16 of February 2004 by their representatives and initialled on each page stating ARMI assets and liabilities in the Modikwa joint venture. The properties held under the JV include Driekop, Maanagshoek, Hendriksplaats, Onverwacht and Winterveld. It also makes mention that the sub-lease to ARM Consortium of the lease between the Lebowa Minerals Trust and Rustenburg Platinum, required in terms of the Modikwa JV Agreement and the Modikwa Financing Agreements, has not been finalised as the Ministerial consent required for such sublease has not yet been granted.
It is not documented that the farms Garatouw, Hoepakrantz, Nooitverwacht or Eerste Geluk form part of the joint venture. I think it's reasonable to expect that these farms didn't form part of the joint venture or if they did had yet to be approved by the Minister by the May 2005 cut off date to convert unused prospecting rights.
If this is so then it appears ARM have no legal standing in the dispute resolution process currently be negotiated. How is it possible that according to the company release on the 23/12/2011 that certain technical difficulties have arisen between the parties and the objectives of ARM if they were not the legal holders to the prospecting permit prior to May 2004.
Yours Sincerely
NKP Price at posting:
24.5¢ Sentiment: Hold Disclosure: Held
