Had a closer read of the report over the weekend. i think we get a bit of an insight into whats been happening behind the scenes and court proceedings and reasons. it kind of reads to me that, NST was feeling envious about the agreed price for treating the joint venture ore at prices which were set originally and the fact that gold now is @$2700 and not $1300 . They want to get payed more for the treating. So as a consequence they tried to increase the fixed cost of treatment ( which on Aug 20 , they abandoned that claim) they also cut back the amount of JV ore that they were going to treat as of Jan 1 this year. And treat more of threir low grade ore at KB because of the jump in gold price is giving them a fair margin now. And also shut down Raleigh to decrease mining there. So, it very much looks like a dirty play from our JV partner if the above story is a fair reflection of the events that have taken place. It doesnt look like Anton is the agressor here. And i didnt think he would be. Just trying to make a stand against the agressors. interestingly , NST is claiming that 35000 tonnes for a full year is enough to fully adhere to the processing contract ( i assume that is for RAND only) And even more interesting that they even had a counterclaim to increase the fixed processing cost, Which on Aug 20 they dropped. So that is a win for us already. So its all about the amount of ore they are obliged to treat, it seems.
RND Price at posting:
$1.98 Sentiment: Buy Disclosure: Held
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