answers to 'real story' questions

Following last nights post there has been significant intelligent discussion which is exactly what this forum should promote. I have tried to provide explanation to some of the questions put forward.

Avarive09 and Ralph712 asked:

1. You talk about the "real community" - is there some further knowledge you have that has lead to this conclusion as against the "community" (Beng) referred to by the judges. Has the DMR confirmed why they are now regard as the real community. How was it that the Beng were able to get injunctions against previous developments in lower courts if they were not the real community? NKP seems to have won their previous court cases on procedural matters (outside 180days etc)

2. How is that every court to date has recognised the Beng as the real community? And now NKP/Genorah are saying they are not the real community? So many judges blind to this? Sounds a very far-fetched.


ANSWER for 1 & 2:

First let me clarify that Bengwenyama are the community however the important point to note is that the applicants in the Constitutional Court are certainly not the legal representatives of that community. To be more specific Roka Phasha-Phokwane is on the Eerste Geluk farm and there exists a combination of representatives for the Nooitverwacht farm.

The applicants got one minor chief and his son on side. That chief then took the E Maswi. Bengemyana tribal stamp and applied it to the application. That chief is now dead. This is the 4th time that Terry Nahon (the applicants funder not Anglo/ARM as has been speculated) has tried to position himself into a Tribal deal via complicated corporate structure. In each of the previous occasions he has failed.

The affidavits, which clearly stated that the applicants did not in any way represent the community, were in the court papers but Werrksmans (Genorah lawyers) decided not to argue because they thought the hearing was simply an argument as to whether the court would grant leave to appeal and relied on the previous arguments to deny appeal that had worked in the previous high court case. Marcus (advocate working for applicants) by legal maneuvering simply shifted the argument position and the court followed.

His argument regarding the standing of the applicant was that they had won a claim to the land and therefore were the only legal claimant and they had not been consulted and the rest is history. The court avoided the need to go to the court papers (which made the issue of representation very clear) and accepted the applicants oral evidence. In short I believe that perhaps Werrksmans were a little blas about the claim and assumed that the Con Court would see through the smoke & mirrors of the applicants.

The High Court (which addressed specifically the issue) found that the applicants were not the community. It will now be resolved by the DMR who will determine using the section 104 applications. Reference will also be given to the resolutions which were signed and submitted by the real community in the last seven days.


Avarive09 asked:

3. Who has given you the drum on Anglo PLC announcement - Anglo PLC or someone else.


ANSWER for 3:

I learnt a long time ago to never bite the hand that feeds me. So I will only refer to my initial post:

'the following information has been sourced both independently and by receiving feedback from the main stakeholders of Nkwe Platinums Garatau and Tubaste Projects. This includes but is not limited to executive management of Nkwe, Genorah, Anglo PLC, Anglo Platinum, the SA Dept. of Minerals & Resources (DMR) and the related corporate advisers.'



Avarive09 and Ralph712 asked:

4. How can NKP get out of "exclusive option" which is binding and do a JV with Anglo. Does PL have some idea how to break binding contracts without getting sued?

5. Why is the Xstrata deal all of a sudden potentially dead? Won't Xstrata have something to say on this? Why the change now?


ANSWER for 4 & 5:

Need to understand that when dealing with billion dollar option agreements which haven't yet been exercised (with the money being spent by the party exercising the option) there are always numerous matters which would require mutual consent and agreement to move forward. These option agreements are not 1 page documents as you could imagine. Without being too specific issues do exist which allow nkwe/ genorah to 'wriggle' out.

This being said, the Xstrata deal is certainly far from 'dead'. Xstrata have very recently made public statements pertaining to their interest in platinum and even more specifically the Garatau and Tubatse projects. My comments about Anglo/ARM reflect what I understand to be the preferred JV deal from the standpoint of Genorah, Nkwe and the South African government.


Avarive09:

6. Do you know if PL has spoken to DMR and Anglo PLC and local Anglo.


ANSWER for 6:

Nkwe Platinums South African Office (Maredi, Sharif et al) have been engaged directly with Anglo PLC (Cynthia Carrol - CEO & Representatives). As stated Peter Landau was in Johannesburg with the other NKP directors from Wednesday last week.

Nkwe Platinum and Genorah have been in numerous discussions with the DMR. It is my understanding that the DMR is fully supportive of NKP/Genorah and the section 104 applications being submitted by the local community which subseqyently specify NKP/Genorah as their chosen financial partner.