waiting... waiting, page-19

Here is some info.
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Peter,
I know I have hardly given you a chance to answer my questions from Monday, and you are no doubt a very busy man. Just hoping you can answer any of the questions below, as I am starting to get nervous / panic as time goes on that we are going to get a delayed again.
Thanks

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Peter,

I have some more questions for you. Hope you can help with some answers.
In Feb2012, Maredi Mphahlele said in an opening briefing we would have JV in qtr2. (You have also estimated 2 - 4weeks, almost 2 weeks ago). I am very worried that this is not going to happen by end of qtr, and that there will be no info released to market to explain, or reset the time frame as has tended to happen in the past. I am not sure how much further the share price can go down, but another missed deadline without explanation certainly wont help, and would not be an acceptable outcome in terms of looking after shareholders best interests. So if you suspect you are going to miss the end of the qtr, please put out a release as soon as possible with some details as to why, and when we might expect it. I know lots could have changed since that Feb time frame was issued, but I don’t think any new time frames have been announced that would suggest we are not still on track for the end of this qtr.

So my questions, please answer where possible, I understand that you may not be allowed to answer all.
1. Are we progressing on the JV front, and on track for wrapping it up by end of qtr? If not when?

"Yes – month of july "

2. Can you give any info of what is going on in the background?

"Intense negotiations with 3 different groups "

3. Are you personally involved in the negotiations and decisions?

"Yep "

4. Is there anything specifically holding us back?

"Nope – all fully aware of anglo issue – just how much we want to play each group off to get best deal for nkwe in a very ugly market "

5. You told me in early May, that we were still in discussions with 3 groups for a JV, have we narrowed it down at all? Are you able to tell me who the interested parties are?

"Still 3 – don’t want to narrow down to ensure we actually end up with one – I personally cant disclose given nda s that have been signed "

6. re: notarised mining license. In early may you thought that it was not yet a problem as there was a delay at regional office, they had 9 to do and they could do 2 per week. Is there any cause to worry yet? When will this happen?

"Not really given the state of south Africa and how disorganised their administrative systems are – already have our legal advice on the issue so whilst would be nice to have another box ticked , no train smash "

7. Any progress with Anglo? Have we given up on a deal there yet?

"Nope – have 2 more new ‘groups’ saying they can broker a deal so whilst its been treading water its still has a few more twists and turns to run "

8. If you are not able to answer those, and things are not on track, when will you release a company update to explain?

"Next update will be around third week of July "

Anything you could tell me would be greatly appreciated, as I am a very worried and concerned long term shareholder.

Thanks