March EGM

A couple of weeks ago I forwarded the following request to the company secretary.  I have included his response. A bit of pressure on these guys showing that Minorities care about their investment will not go astray.


EMAIL

Hi Keith,

Assuming that the EGM goes ahead in March could you please pass on the following related questions to the Chair on my behalf as a Nkwe Platinum shareholder. I would appreciate confirmation that these questions will in fact be presented.

Background:

Nkwe Platinum paid Genorah Resources 250m Nkwe shares for the 64% holding of the three Tubatse farms and then spent in the vicinity of A$25m on exploration of the two Tubatse farms (Nooitverwacht and Eerste Geluk) that were subsequently lost due to a  Concourt ruling.

Questions:

1. What does the company plan to do in order to recover these costs from the new owners of  Nooitverwacht and Eerste Geluk?
2. Why have no details of the debt and recovery of expenditure been communicated to the market and Nkwe Platinum shareholders?
3. Does the company plan to take any recourse action against the  DMR who originally granted the prospecting rights? If not why not?
4. Does the company plan to take any legal action against International Goldfields/International Petroleum ( IOP) who received $10m of the $50m funds associated with the transfer of an initial 5% of all three Tubatse farms to Nkwe Platinum? If not why not?
5. Will the company take any action against Genorah Resources as a result of the transfer of 250m Nkwe Platinum shares in exchange for ownership of the three Tubatse farms? If not why not?
  
Kind Regards

REPLY

"He ( The Chairman) has had a bit on his plate so I haven't had a reply but the fact conference facilities etc are being made available I do think all questions tabled will be answered "