disappointed

No doubt NKP shareholders have been terribly disappointed with this weeks lack of interest in the stock.We have seen a positive BFS and details of future participation in the Garatau Project from DRA. In fact DRA has now become our second largest shareholder.No other institution nor fund manager has shown any interest in NKP's future.

News had leaked over recent weeks that DRA would enter the register via a 30c per share placement.There was speculation that capping was prominent in order to make the placement appealing due to the premium. I and many others thought that this would at least place a floor on the share price. No doubt some investors had topped up in anticipation of doubling their capital overnight.But we all know that the market often has different ideas.

Some shareholders still believe ( due to press releases and the content of the last Annual Report)that Xstrata may be the main future JV partner. Forget it. If that was to be the case Gleneagles would not have been commissioned to seek a partner. Also Maredi would not be telling the press that he will approach the Industrial Development Corp for participation and funding.I think that big brother Anglo scared Xstrata away due to their other valued operational JV's. If Xstrata was interested in participation NKP would not be considering the phased mining options that are proposed. It would be full steam ahead on all fronts in my opinion.


So what's next on the horizon?

Well we still have not seen a signed Mining Right. Was told that there was a Sth African Cabinet reshuffel this week and that the Minister was waiting for the outcome.

Still no word from Anglo/ARM on the Review Appeal over the Modikwa Deeps farms. Have they retreated into their shell without saying a word to their shareholders? Don't think so. Not sure what to expect re the dispute resolution. Read on a HC post that even Peter Landau thinks its still a dark cloud hanging over NKP.

The long over due ( just a year or two) JV no doubt will be the making of NKP. Or should I say MAY be the making of NKP. Until we see what Maredi and fellow directors have negotated we are none the wiser re the future and in particular source of funding.

Also read HC posts of a low takeover offer for minorities. Well I will be happy to exit at a low $1 per share for this $2 billion resource. Others may accept at a much lower price due to the constant frustrations that NKP has delivered.

Listing on JSE? I am sure that the DMR would have imposed as a condition of the Mining Right that locals must be given an opportunity to participate in the benefits of any future development.

In conclusion....

Another period of waiting for an announcement of a Joint Venture Partner and funding. Wouldn't it give you the shits having to wait and wait for news. Why the hold up????