NKP 0.00% 9.9¢ nkwe platinum limited

mining, page-19

  1. 2,755 Posts.
    "I think the surprise was that Genorah was given the prospecting rights. At this stage the Bengwenyama-Ye-Maswazi Tribe could not have foreseen that the rights for their farms would be given to someone else."

    They didnt know till the 6th of December also I think we need to seperate Bengwenyama-Ye-Maswazi Tribe from Bengwenyama minerals as they arent the same, Bengwenyama minerals was just another minning company up until the 15th of September 2006 before this statement

    "On 15 September 2006 the final investment agreement was concluded. On the next day, the Kgoshi of the Community wrote a letter to the Department stating his concurrence and approval of Bengwenyama Minerals acting as a ?black empowered enterprise on behalf of the Community."

    This is also a hot debate

    "but has successfully lodged a land claim for its formal restoration to the Community. Despite
    some earlier skirmishes, it is now accepted that the Community holds both properties (the farms) as owner for the purposes of the application of the Act.
    The farms are situated in the Limpopo province."

    Big difference between successfully lodged and successfully granted and if proves to be incorrect as according to the Roka Pasha I think Bengwenyama minerals will have some explaining to do to the judges of the constitutional court...doesnt seem its accepted at all and apart from the fact it was only lodged after Genorah applied for the prospecting rights.

    Will let the lawyers fight it out I guess but from all the information I read Roka Pasha have always been consulted by government departments in regards to Eerstegeluk as for Nooitverwacht there is no debate as it belongs to the Bengwenyama-Ye-Maswazi Tribe and its a matter of seeing which faction of the community wins out but I myself dont hold a lot of faith that Genorah will get prospecting rights restored on Nooitverwacht and then its a matter of reducing Genorahs shares in NKWE that are in escrow because of this which hopefully wont affect the share price but only the market cap with a reduced number of shares on issue





 
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