They may have been trying to release the BFS update as well - but couldnt and hence this update alone
The update essensialty hints at what unclepanda said about third party ownership applies to SA as well - that means that whats with Nkwe and IGC will still be IGCs and Nkwe - Genorah will have to pay the costs technically to who is deemed to have been the rightful owner
The DMR has to decide on whether there is any national and regional interest served by awarding to Bengwenyama (it appears that Bengenwaya may have an element of 'BEE fronting' an element which the current DMR has found to be highly prevelant - given that Platmin x-directors are keen to make a steal. BEE fronting is a serious offence. I think Allan secombe was given this info by Nkwe camp and Barry Sergeant is being played by the platmin vultures. DMR may be inclined to decide that it appears DMR followed all due process and awarded to the first of two BEE applicants both of whom had produced evidence of community representation. As the DMR director has said there are tussles regarding chieftmanship and that should not mean the resources should not be developed. Nkwe has expended cash of overseas investors and contributed to the local community - and was the first to apply so retains rights
If worst comes to worst and DMR asks for a fresh application - the update has clearly implied that Nkwe has community backing to put up a 104 application - and having already done the work so far they are the natural first choice.
It seems all what the cons court decision will do at the end is make genorah pay Bengs legal fees - as always the lawyers win. But if there has been misrepresentation of facts then Beng and their lawyers may be in for trouble
A lot of HC posters had already dug up much of whats stated in the update - its amazing how the information shared by us seems to have been collectively better than what the media or AC has been throwing
NKP Price at posting:
45.5¢ Sentiment: LT Buy Disclosure: Held
