I believe the dispute with Myleti community is over the farm Eerste Geluk 327KT which is apart of the larger Tubatse project. I think Eerste Geluk is not in the joint venture talk at this time. Please course someone correct me if I am wrong here.
In my views the court hearing will go ahead. If NKP indeed has resolved the matter then I think Peter "Junk Salesman" Landau would have made an ASX announcement about it to "push" the share price. To date NKP has made an announcement on the dispute but nothing on the resolution. To me this means that court hearing is going ahead as scheduled. Also if the court has handed down a date for the hearing you cannot amend this date as the plaintiff or defendent. Only a resolution will cancel the date or in the other scenario the court hands down an amended date since there could be a delay or whatever.
I do believe the Myleti Community want a bigger stake in Genorah or bigger stake in the project. Either way I still see NKP (which essentially is Genorah expanded) keeping the 64% and still hav to pay out IOP for the rest of the 10%. I do not see any individual BEE wanting to damage NKP however they want individual splits changed. Its just like a gang struggle, while no faction want the whole gang to collapse but want a bigger cut of the dough avaliable. Honestly I see the BEE as nothing more than a gang.
While I am not as negtive to call the Joint venture a pipe dream yet but if people think its going to happen in 1-2 weeks then this is a pipe dream.
Once again I take everything management say with a tablespoon of salt. Believe it when I see it.
I will call (or pester) Peter Landau and Tony Eastman and whoever I have to get some clarification on the court case here.
Good Luck to all
NKP Price at posting:
22.5¢ Sentiment: None Disclosure: Held
