"According to NKP's announcement on 8 October 2009, "NKWE to acquire 10% balance for A$50m upon Xstrata exercising option or the grant of Mining Right over the Tubatse Project."
But currently, only one of the three Tubatse farms has been granted MR, if NKP gotta pay, based on resource percentage, consideration payable will be $22.6m."
Surely, if a mining right has only been granted for one of the three Tubatse farms, no "mining right over the Tubatse PROJECT" has been granted, thus nothing should be payable.....?
NKP Price at posting:
17.5¢ Sentiment: Hold Disclosure: Held