bigmac with cheese, page-42

It would not be to hard to work a opening price scenario's for NKP if/then it starts trading based on..

The 3 farms still held. Garatouw 282KT and De Kom 252KT. Hoepakrantz 291KT is still unknown because of the 28 supposedly drilled holes in 2010, no results have been release.

(scenario if 4-5 farms)

You would have to take out the X premium if you were being realistic as many upper hand is long gone.

Also the International goldfield deal. Nkp have paid them $10M for 5% of the 15% they hold for Hoepakrantz 291KT, Nooitverwacht 324KT and Eerste Geluk 327KT by a C/R in Dec 09.
There is still a balance of $50m to pay for the 10%.
This was always a shady deal given that Nooitverwacht 324KT and Eerste Geluk 327KT had court orders in place to stop the drilling.(5 directors form PL other company's)

This deal MUST be over.

You could work out a price on % of the 3 farms held. (4-5)
By % I mean the % that NKP own of the 3 farms.

I asked the question, do NKP need Genorah Resources?
Why can't NKP have the rest of the permits in there name.

If Genorah got the flick, it would not be the first time NKP have flicked a BEE.

Found this a few weeks back and since you need to know just what % NKP have in all this, I thought i'd post it.

24 Dec 04.

ASX Announcement 24 December 2004

BEE INVESTORS TO ACQUIRE 28% OF NKWE
IN A NON-DILUTIVE TRANSACTION

- Nkwe announces a transaction whereby investors led by Mr Tiego Moseneke have the right to acquire an existing 28% equity interest in Nkwe Platinum Limited

- The transaction enables Nkwe to fully comply with the Black Economic Empowerment (BEE) ownership requirements of the South African Mining Charter

- Tiego Moseneke and Gopolang Makokwe appointed to Nkwe Board
---------------
9 Months later.

ASX Announcement 5 October 2005

UPDATE ON NKWE?S BLACK ECONOMIC EMPOWERMENT STATUS

As announced on 28 September 2005, non-executive Directors Mr Tiego Moseneke and Mr Gopolang Makokwe have resigned from the Nkwe Board.
Messrs Moseneke and Makokwe voluntarily resigned from the Nkwe Board citing their concerns regarding the impact of pending, and possibly protracted, litigation against them.

The litigation is unrelated to Nkwe?s business.
Messrs Moseneke and Makokwe were appointed to the Nkwe Board on 24 December 2004 as part of a Black Economic Empowerment (BEE) transaction.

As a result of Messrs Moseneke and Makokwe?s resignations, the Board has commenced a comprehensive review of its BEE structure. The Board is continuing ongoing negotiations with a number of other broad-based empowerment partners and remains committed to mining platinum in South Africa within a BEE framework appropriate to the spirit and intent of the
Mining Charter.

The Company remains compliant with the BEE requirements of the South African Mining Charter and was recently granted its second new order prospecting right at its Tinderbox project.


7 Months later
15 May 06

BEE COMPANY TO ACQUIRE 30% OF NKWE PLATINUM (SOUTH
AFRICA) (PTY) LTD

The Board of Nkwe Platinum Limited (ASX:NKP) is pleased to announce that it has agreed a Black Economic Empowerment transaction with Blue Nightingale Trading 709 (Pty) Ltd
(?Blue Nightingale?). The transaction involves the issue of new shares in Nkwe Platinum (South Africa) (Pty) Limited (?Nkwe SA?) to Blue Nightingale so that it will own 30% of the expanded issued capital of Nkwe SA.
The directors of Blue Nightingale are Mr Maredi Mpahlele (Chairman), Mr Mxoleli Nkuhlu, Mr Sharif Pandor and Mr Andile Nkuhlu.

5 month later. (and the same month as Genorah listed as a company)
ASX Announcement and Media Release 14 September 2006

ACQUISITION OF NEW PLATINUM PROJECT

The Board of Nkwe Platinum Limited (ASX:NKP) is pleased to announce it has entered into a conditional agreement with Black Economic Empowerment (BEE) company, Genorah
Resources (Pty) Ltd (?Genorah?), to acquire Genorah?s interest in the prospecting rights to two strategically located platinum group metal (?PGM?) farms on the Eastern limb of the Bushveld Complex.
126 million shares.

On completion of the transaction, Nkwe SA will increase from 70% to a 74% owned subsidiary of Nkwe with the remaining 26% held by Blue Nightingale and "other BEE entities".

The above bit is interesting."Other BEE entities"

The first BEE from 04, should have no interest as their shares were to go back to escrow after they were outed.

04 deal
Nkwe Platinum Limited (ASX:NKP) has been advised that its largest shareholder, Canaan International
Investments Inc has entered into an agreement with MrMoseneke which upon completion will deliver 22.5 million out of 80.9 million Nkwe shares.

So who are the other BEE entities?

Now that "BEE" a list.

04 Mr Tiego Moseneke and co. 22.5 million shares.

05 (May) Blue Nightingale 30% Approx 140 million shares.

05 (Sept) Genorah Resources 28% Approx 135 million shares.
(Just listed as a company that month)

Now I just found this when researching.

May 05
The directors of Blue Nightingale are Mr Maredi Mpahlele (Chairman), Mr Mxoleli Nkuhlu, Mr Sharif Pandor and Mr Andile Nkuhlu.

If you are going "So what"

Directors of Nkwe.

Mr Maredi Mpahlele
Mr Mxoleli Nkuhlu
Mr Sharif Pandor

Again, just how much do Nkwe own?
This seems to be one hell of a wicked web.

They did not waste any time getting on the board.
Nov 05 AGM

6. Resolution 3 ? Re-election of Mxoleli Nkulhu
To consider and, if thought fit, pass the following resolution as an ordinary resolution:
"That Mxoleli Nkulhu, who was appointed a director of the Company to fill a casual vacancy on 1 June 2006, retires in accordance with the ASX Listing Rules and being eligible, offers himself for re-election, be re-elected as a Director." 2

7. Resolution 4 ? Re-election of Sharif Pandor
To consider and, if thought fit, pass the following resolution as an ordinary resolution:
"That Sharif Pandor, who was appointed a director of the Company to fill a casual vacancy on 14 September 2006, retires in accordance with the ASX Listing Rules and being eligible, offers himself for re-election, be re-elected as a Director."

8. Resolution 5 ? Re-election of Peter Landau
To consider and, if thought fit, pass the following resolution as an ordinary resolution:
"That Peter Landau, who was appointed a director of the Company to fill a casual vacancy on 14 September 2006, retires in accordance with the ASX Listing Rules and being eligible, offers himself for re-election, be re-elected as a Director.
(what the hell is a "casual vacancy")

Now did we get all that.

Mxoleli Nkulhu filled a casual vacancy just after the Blue Nightingale deal May 05

Peter Landau and Sharif Pandor filled a casual vacancy just after the Genorah Resources deal in Sept 05.

With 280 million shares held between the two BEE's all 3 were voted in. And now they run things.

This seems to be one hell of a wicked web.

Please note that I did start this as a positive post about NWKE moving forward with out Genorah Resources. But every time I add 1+1 I keep coming up with a odd number.