I am concerned that it appears that the company hasn’t been able...

I am concerned that it appears that the company hasn’t been able to secure a JV agreement with Angloplats at this stage.

Why?

My feedback is that Angloplats is claiming an entitlement to a 50% free share of the Modikwa Deeps farms on the basis that it was the holder of the Old Order mining rights.

I have been informed that the company has the support of the DMR and that any PAJA review is likely to fall in its favour but the process will take up considerable and valuable time that the company simply cannot afford.

The company is mindful of acting in the best interests of its shareholders but it is in a catch 22 situation.

Is it in the best interests of shareholders for the company to grant 50% of its interest in the Modikwa Deeps farms to Angloplats?

Is it in the best interests of shareholders for the company to enter into complex and costly legal processes that will further delay the development of these valuable assets?

Is it in the best interests of shareholders for the company to barter some sort of a solution to the impasse with Angloplats?

I am leaning towards the benefits to shareholders of the company moving to put all legal disputes to rest once and for all, bundling both projects together and sourcing the right partners in order to decisively move towards a joint venture.

There are huge benefits to the company if the Chinese or Russians come on board as financial partners and it is time that these options were explored far more aggressively in my opinion.


Stagman