both BFS's were completed long ago.It was just a matter of refinement along the way.
One for the Xstrata JV and a second for the Anglo/Arm "potential" JV.
What we do not know is the level of negotiations that took place with each consortium. Then all went out the window when the Concourt put a spanner in the works.
Until the DMR makes a decision on all farms both BFS's have no relevance in my opinion.
I am guessing that Xstrata played hard ball and NKP went across the eastern fence to see if an alternate JV could be negotiated. Since rumors are strong that AngloAmerican and ARM are interested in a deal of some type they may now have the upper hand. But there is always a possibility that Xstrata may want to purchase both the Garatua and Tubatse projects.
2011 will be the Year of the Leopard no matter what transpires.
NKP Price at posting:
45.0¢ Sentiment: Buy Disclosure: Held
