The assertion by ARM and Anglo that they intend to take further action has now meant that Nkwe has no choice but to further respond. Nkwe considers the current purported action by the parties to be disingenuous and vexatious and is designed to do nothing more than gain some perceived commercial advantage in negotiations with the DMR, Genorah and Nkwe to reach a commercial settlement of a dispute which has already been settled. Nkwe has instructed its lawyers to pursue a vigorous defence against any action formally commenced by ARM/ Anglo and will update the market accordingly once (if) this process is initiated ? as yet Nkwe is not a party to any action (despite being the registered holder of a 74% interest in the Garatau Project and 64% of the Hoepakrantz farm. Obviously today?s announcement on the two other Tubatse farms has an impact on the ARM/Anglo claim given the rulings made by the Constitutional Court and subsequent awarding of the prospecting rights without ARM/ Anglo lodging an application.
NKP Price at posting:
32.0¢ Sentiment: None Disclosure: Not Held
