Had been out this morning attending to family members in...

Had been out this morning attending to family members in hospital. Could not believe the poor market response to the latest announcement. As someone has already asked why would anyone sell below 10c if there is a strong possibility of an eventual takeover?

I questioned NKP office as to why the announcement was made when the sale is not complete. The answer was firstly that Zijin had made the announcement ( refer link below) yesterday to its shareholders. I was then told that since many of the aspects ( signed agreement, price, directors resigning, etc) were market sensitive that there was a duty to release details asap. I understand their obligation.

It appears that those shareholders who had been waiting for a long time for action have decided to exit with market conditions ( sales volume) improving due to the announcement. Maybe  fear of global markets contracting further or a deliberate move to hold back any price rise. We do not really know.

The question still at the forefront of my mind is WHY Zijin have made this announcement now when there are so many aspects within NKP still unresolved or seeking clarification?

For example:

Status of Mining Right Registration
Implication ( Repatriation) of Zijin holding over 60% of NKP.
Status of IOP sale of its 10% Tubatse holding
Status of seeking compensation from MUM ( Bengwenyama Tribe) re the $26m expenditure on the two lost Tubatse farms.
Status of the Anglo/ARM disputation ( Modikwa Deeps) which has now been taken to court by Bauba Platinum.
Etc

Even though the platinum price has collapsed in recent days below that $1,000 mark projections are still reasonable and make efficient platinum mining viable. Let's hope that Zijin is not using this adverse environment in attempting to screw minorities with a low ball offer and yesterday's announcement as the softener by stating 10c is what we should expect. As only a few have exited the message is very clear....NO DEAL for any opportunistic offer.

Zijin's announcement:
http://www.zijinmining.com/Portals/1/LTN20150721398.pdf