broker report, page-2

For relative newcomers to NKP the following thread may be of interest. This dates back to the release of the Edisons research note in September.

http://www.hotcopper.com.au/post_threadview.asp?fid=1&tid=983430&msgno=4468198#4468198

IMO the platinum price is the key when setting any post production price targets for Nkwe. If you are bullish on platinum prices going into 2012 / 2013 then $3.55 will look like chicken feed.

On a side note I'm not sure where an annual production target of 1.38m oz originally came from. All the material I've read to date has only mentioned 1m oz. However with new farms acquired and indications from drilling results to date I would not be surprised if the 1m oz per year target is not increased at some point in the future.