It appears that the merger had been approved last year by the South African Competition Commission.
Its just a matter of certain conditions being attained before Zijin will move to the next phase. YES its a bloody slow process with one hurdle after another being encountered by Zijin. No wonder that Xstrata pulled the plug long ago. You would think that Genorah shareholders and in particular Communities occupying the farms would want to see infrastructure, employment and royalties being delivered asap. Not so it appears.
Anyway no need for us Minorities to worry about mine development etc. Zijin and the BEE to enjoy after we are taken out at a reasonable/acceptable price.
Proposed merger between Jin Jiang Mining Limited (Jin Jiang) and Nkwe Platinum Limited (Nkwe Platinum)
The Commission has approved, without conditions, the intermediate merger whereby Jin Jiang, intends to acquire Nkwe Platinum. Post-merger, Jin Jiang will have sole control of Nkwe Platinum.
Jin Jiang is involved in the exploration, mining, processing, refining and sale of gold, non-ferrous metals and other mineral resources.
Nkwe Platinum is a Platinum Group Metal (PGM) exploration and development company with a number of assets in the Bushveld Complex in South Africa.
NKP Price at posting:
4.5¢ Sentiment: Buy Disclosure: Held
