disappointed

Naturally we are disappointed at the Genorah judgement. Just when we thought that there was light at the end of the tunnel a positive court case and a Final BFS NKP hit a brick wall.

However a few facts to consider:

1. The shareprice dropped to below 46c on several occasions this year only to rise again.

Jan 5th .... 41c

Feb 11th.... 42.5c

May 7th......46.5c

Aug 25th.....45c


2. Although Genorah and NKP directors were confident that the judgement would be won they had plans in place if this was not to be the case. Yes Genorah could have negotiated a deal and saved themselves thousands of dollars of court costs.But their legal advice had to be followed.

3. Xstrata knew of the legal disputes and took these into consideration during negotiations.Most likely why no deal has been struck at present.

4. I am sure that the Ben.. Tribe would be happy with a financial resolution. Some NKP shares may now be offered by Genorah. They have 376m at their disposal. A win win for all concerned.

5. Parties considering joint venture Plan B ( second BFS)would have taken into consideration a Genorah/NKP court loss and its implications.

6. NKP has not lost Garatau nor three other Tubatse farms.

We need to wait and see what the next few weeks deliver. Hopefully Xstrata will now show its cards regarding its true intention for an expansion into the Easten Limb.

In my opinion Genorah Res appears to be the real loser. NKP's position will most likely be retained when the 2 farms are reinstated into the Tubatse project.

If I had some spare cash i would average down some more.