HC poster "Drawing circles" posted this link with info
http://m.iol.co.za/article/view/s/9/a/27296
"Myeleti applied for a prospecting right over the farm Hoepakrantz 2019 KT in Limpopo on July 28, 2005. The application was approved and granted on July 17, 2008.
The effect of the grant was that the prospecting right could not be granted to anyone else. Despite this, Genorah applied on February 6, 2006 for a prospecting right over the farm and adjacent properties. The prospecting right was granted. Although Myeleti cited the minister of mineral resources and other department officials in an application at the Pretoria High Court, it did not file any affidavits. Myeleti argued that the granting of the right to Genorah was unlawful and unreasonable because once the grant was made, it could not be reversed, withdrawn or refused. " continues ************************************** For starters the Farm has a different Number to the one in the Genorah Farms deal 2006. Here it says H 2019KT and on ASX ANN re Genorah farms deal its H 291KT...is it a part of the farm? or could be a typo? I make a few.
the rest of the article sounds a bit like exclusivity of somesort, but can you have exclusive prospecting rights or just exclusive mining rights? OR
could a 'old order mining right holder' have an >>>exclusive rights to mine<<<<<<.... and somehow that influences or should be taken into consideration to whome the prospecting is awarded... and following that might dictate the eventual JV partners?
How has the new legislation to new order rights dealt with this?
so according to this rendition "The effect of the grant was that the prospecting right could not be granted to anyone else. Despite this, Genorah applied on February 6, 2006 for a prospecting right over the farm and adjacent properties. The prospecting right was granted. "
and according to ASX ANN IGC Oct 2006 The Genorah Farms deal was signed. (It takes about 6 months to get a prospecting rights application from the "applied" to the "approved" state, doesnt it?) IGC paid Genorah $300,000 paid for exclusivity...whatever exclusivity there relates to?
and this opening part "Myeleti applied for a prospecting right over the farm Hoepakrantz 2019 KT in Limpopo on July 28, 2005. The application was approved and granted on July 17, 2008."
Approved July 17 2008?....how does that timing fit in with the ANGLO/arm/dmr/nkwe ...meeting and 2008 agreement? Anyone know the exact date of that?
NKP ASX ANNS for 2008 include trading halt etc and on 7th August 2008 the Xstrata exclusive option to the five farms etc announced.
I havent taken a lot of time to review the 2008 ASX anns yet. dyor.
Actually this might be all fitting together and might not be so ominous. ASX ANNS are not a history book in length but we are looking at all the details and history.
NKP Price at posting:
26.5¢ Sentiment: None Disclosure: Held
