june 30, page-2

I can answer your questions with a bit of confidence


1. Will the June 30th deadline be revised yet again? Of course its going to be reveised again. This whole debacle that was with IPO (formerly IGC) has dragged on since late 2008. I was a holder of IGC and remembered a rascal called Tony Sage mouthing off that a deal of 80c was done. In the end the deal was valued at like 55c ... I luckily sold out with not too much of a loss. This June 30th date has already been revised at least 2 times since IPO was listed on the Newcastle Stock Exchange.

2. What will NKP have to pay IOP in view of the uncertainty of the Tubatse farms? Bet you if there is a change it won't be a big change. I can tell you that IGC and NKP originally got in bed over Tubatse as a "double dip" dodgy scheme of arrangement. Back in 2007 when things were still moving along nicely IGC was brought into the picture because if NKP landed a JV deal then a forced purchased of IGC stake in Tubatse had to be warranted. Guess who had 30m options and a heap of shares in IGC ... you guessed it ... Genorah.
From a old rumour in Perth there was a massive commission that would have been paid our for the IGC/IPO deal to be done and the trail leads back to "friends" of the pirate fleet.

Lets face the hard facts ... if NKP cannot get a done deal of some sort then you can forget about ANY money to pay IPO. NKP itself is living off a loan so they have no resources to do anything. What else can IPO do to get their money? No one is going to buy their stake in Tubatse except for NKP.

Hoepakrantz was been given a mining license but the other farms are at this stage in a "mothball" status. If Hoepakrantz is given to Anglo for a JV of infrastructure then yeah its not going to form any part of a JV. If there is a 3rd party that does not mind by-passing Anglo then they will JV Hoepakrantz as well.

At this stage just forget about the NKP deal with IPO. Just a stupid distraction. Nothing will happen if NKP internal affairs are not resolved