Ann: Exploration Update, page-25

Researcher

as you like to dig deeper into issues may I refer you to the link below. This should provide you with a better understanding of the latest NKP announcement and issues relating to the Modikwa Deeps dispute from Buaba's viewpoint. Note again that the reasons why Bauba has taken up the challenge against Anglo/ARM are associated with eliminating the perceived threat , new funding requirements and the prospecting rights about to expire in 6 months.

The document is rather long but you will find important disclosures.

I will leave you with this extract:

In our previous report to shareholders we noted that Bauba Platinum has been cited as a respondent in a legal process initiated by Rustenburg Platinum Mines​

(“RPM”) against the Department of Mineral Resources (“DMR”) in respect of the farms Genokakop and Groot Vygenboom being included in the Southern Cluster​

of Bauba Platinum’s Prospecting Rights. The legal process has not yet been resolved; however, as the holder of the renewed Prospecting Rights, we are confident​

that these rights will not be set aside, a view which is confirmed by a legal opinion which we have obtained. We have been in constant contact with the DMR and​

now find it necessary to approach the courts to finally resolve this matter. We will however endeavour to interact with and keep the DMR fully apprised of all issues​

related to this matter.​

Access to capital remains a key risk, not only for Bauba Platinum, but for many other junior exploration and mining companies who are competing for limited​

funds in difficult economic and political conditions which are facing the industry, and particularly in the platinum sector. Our approach is to manage the economic​

sustainability of the Company by managing our exposure rate. We will both monitor and manage the progress of our exploration programme in the context of​

the funds available and, if necessary, we will slow down the programme until the investment appetite has been revived in the sector. We will continue with all​

possible initiatives to find ways of adding value to ensure our sustainability. We are confident that as we continue with our exploration programme we will be able​

to demonstrate, to current and potential investors, the long-term value in Bauba Platinum.



Link: http://www.baubaplatinum.co.za/ir/f/Bauba-Platinum-Circular-to-Shareholders-22Aug2014.pdf


Have a great New Year guys.