d&d update 120310, page-19

topwon

Xstrata are not on the NKP register. I have been studying the Top 40 for months.

If they were to buy on market we would see a new entrant. I will keep a lookout.

If X was to purchase NKP stock they would still have only 50% of the platinum output from the JV. Their investment in NKP would not show up as any additional % of the two projects. No different to their other joint ventures with Anglo etc. However if the NKP sp went up then they would have additional paper profits.

Naturally it would make more commercial sense if X did buy NKP shares on market at these giveaway prices.

Unlike the Lonmin situation which only gave X 25% I think that they would want 100% of NKP. With Genorah holding such a large parcel (63%)it would be easier to make a successful offer. The remaining shareholders would jump at $3 a share in my opinion.

Peter Landau did tell the investment community in a speech that NKP was worth over $3 I recall.

Again we are all speculating. But what a great dream if it came true?