Ive been in regular contact with a person who has good Xstrata contacts via an Australian subsidiary and they have not come up with anything apart from saying at one stage that "I might just be right about the JV".
In other words either Xstrata are keeping mum about this or they have been told to keep their lips tight.
And dont forget the only real NKP contacts are the ones in the Perth office and then its all South African.Not much potential there for leakage in Australia either.
Imo all this up/down trading has been speculative fund/s-traders playing the suppos'ed timing of annmnts.
That being said, I also I found that recent recovery from that 30% down rather impressive, and now we suddenly have a rather concidental Trading halt whilst it sits at 60c in some of the worst markets weve seen since the GFC hit.
But then what one person thinks another will go the other way and either could be correct.
You may well be right on the cap raise seeing NKP have been spruiking high and low around the globe with preso's in the last few months.I remember seeing somewhere they have also throttled back on drilling and the only reason for that would be low cash reserves.On this front one hopes they do annc the BFS and Xstrata has to come through with a few million smackaroos pronto so we dont see anymore dilution just yet.
We will no doubt see some for the finalisation of Tubatse but the sensible thing to do would be to get this BFS out and get the cash from Xstrata.This would also have the effect of giving the sp a little stability and perhaps some more momentum coming into a JV/sale or whatever of Garatouw to minimise the dilution that will be required for Tubatse.
Ideally it would be nice to see an anncmnt saying NKP and Xstrata have gone into Garatouw sale negotiations on the back of the final BFS.This would kill the whole flock of birds with one stone.But I think I could be dreamin on this last one!
d.
NKP Price at posting:
61.0¢ Sentiment: Hold Disclosure: Held
