Can someone with an Accounting background help me with this.
ANNUAL REPORT 15 Nov 2010.
Page 12. Exploration expenses 2010 with 28 hole supposed holes drilled at Hoepakrantz with no increase in resource ($1,315,287) 2009 with increase in Hoepakrantz resource ($6,070,734)
Page 41. Shares issued to facilitator on Garatau Project (iii) 2010 - 6,300,000 2009 - 6,174,000 Who are the "facilitators?"
page 17. Salary
M Mphahlele $300,000 P Landau $240,000 M Nkuhlu $55,000 S Pandor $55,000 M Sithole $38,347 TOTAL $688,347
Page 46. Other Related Party Transactions
Consulting fees paid to Okap Ventures Pty Ltd (?Okap?), a company in which Mr Landau is a director, for the provision of corporate advisory, investor relations, CFO and financial management services, ASX/ASIC compliance, company secretarial and associated services. Okap also provides office facilities in both London and Perth. 2010 - $630,000 2009 - $830,000 (Isn't secretarial and associated services his job tittle in NKP?)
Consulting fees are paid to Mr A Nkuhlu, a related party of Nkwe director, Mr M Nkuhlu. 2010 - $240,000 2009 - $240,000
Exploration camp rental expense paid to Brown Pebble Investments (Pty) Ltd, a company in which Mr Mphahlele has an indirect interest 2010 - $123,679 2009 - $113,089
Purchases of equipment from Tech-North (Pty) Ltd, a company in which Mr Mphahlele is a director 2010 - $6,601 2009 - $2,228
Consultancy fees paid to Active Blue Trading (Pty) Ltd, a company in which S Sithole is a director. 2010 - $161,133 2009 - $161,316
Total moneys paid in 2010 FY. $1,849,760
Placement to consultants (ii) 3,900,000.(Not Named)
Found this on the 2009 Nov Ann. Substantial Shareholders.
Doull Consolidated Limited ? (as trustee for Genorah Resources (Pty) Ltd) 376,000,000 68.89% of NKP.
Page 28 2009 End of year. Proceeds from sale of De Wildt Project $13,793,242. Where is this money? By the next Q cash flow their was only $4m in the bank.
Page 23 on the 2010 Nov end of year. Owners of the parent(NKP). $13,693,434 (Did the owner of "the parent company"(nkp) get this money.
I highly recommend you read the ANNUAL REPORT 2010.(the numbers)
1 Dec 10. Nkwe as the registered holder (DMR approved) of a 64% right in the farms clearly has a number of actions it can pursue both against Genorah and the DMR.
They are going to action against themselves. What a joke.
NKP Price at posting:
45.0¢ Sentiment: None Disclosure: Not Held
