dd - It's a possibility that it could be denied but in my...

dd - It's a possibility that it could be denied but in my opinion that's highly unlikely, if it were then it would likely throw the general investment perception of South African mining sector into a tailspin. Far more likely we get a delay as whether it's assay offices, goverment departments or tyre suppliers of the heavy loaders they are all at full capacity so it really is a case of waiting our turn. That said there will be a considerable amount of (risk adverse) money, both institutional and retail, waiting on the sidelines for confirmation which should give the stockprice a significant boost once it's done and dusted.

Once we are re-rated as a producer the valuation model completely changes. I think we will be nearing A$5 by year end even if PGM spots remain at similar levels to where we sit today. A US PGM ETF is the catalyst i'm awaiting although the auto lobby are doing everything they can to stop it coming to market for obvious reasons. I think they'll lose in the end. :-)