The loan was not to directors but to Genorah Resources.
Go and read the F2008 Annual Report.
The loan was originally taken out on July 24th 2008 and payable on Jan 24th 2009. It was rolled over until this week and will be most likely be rolled over yet again.
Genorah was anticipating on a JSE listing by now which would have given them the opportunity of selling some NKP shares that they held in order to repay the loan.
Due to current events BFS, JV and foreign exchange listings have all been delayed. So will the loan repayment.
There is nothing to worry about because interest at 10% pa is accruing.
There has been no announcements in the past about rescheduling loans. No need on this occasion.
If you have never owned NKP and never will .... why are you taking an interest in the Related Party Loan? Are you just a stirrer?
NKP Price at posting:
45.0¢ Sentiment: Buy Disclosure: Held
