article/some similarities to nkp case, page-51

Hey Nathan.

It was Blue night that was to bring "G" and "N" to the party. For this they got a 30% (24m shares) in NKP's 82M shares apporx.

15 May 06

"We are pleased to have reached this agreement with Blue Nightingale. We believe that this transaction will ultimately create a substantial empowerment company that will initially develop PGM prospects on the........... "Western and Eastern Limbs of the Bushveld Complex" in South Africa.

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

To reflect the proposed equity change, Messrs Maredi Mpahlele and Mxoleli Nkulhu have been invited to join the Nkwe Platinum Limited Board.
This put NKP compliant with the BEE.


14 Sept 06.

Then not 3 months later, out of the blue comes Genorah.
And what are they bringing. The Bushveld Complex.

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."

How much for the farms that blue night said THEY would bring to the party.

Total 126m new shares to Genorah.

Now with only 82m shares at the time of this announcement, and even with blue nights 24m, there would have been some very concerned share holder. I would be. If this was put to a vote given that blue night was suppose to bring in these farms, it may well have got voted down.

So what did they do. Pulled it from the vote and got a waiver.

Directors of Genorah?

Genorah is a BEE company owned and controlled by Historically Disadvantaged South Africans. The directors of Genorah include Mr Maredi Mphahlele who was appointed as a
Director of Nkwe, along with Mr. Mxoleli Nkuhlu in May 2006 as part of Nkwe?s BEE transaction with Blue Nightingale. Mr Sharif Pandor is also a Director of Blue Nightingale
and chairman of Genorah (see below for further details). There are also common directors and owners of Genorah and Blue Nightingale.

On the very same day PL joined the board.

And then they had control.