PL said that the Southern farms are 64% owned by NKP.
The FACT is that two farms "prospecting right" have been given back to DMR. This IS a fact.
This is from an ASX release from NKP itself.
Nkwe were not a party to the proceedings but the judgement does have an impact on the current status of its 64% interest in the 2 southern farms Nooitverwacht and Eerste Geluk which are the subject of exploration drilling.
? The Court set aside the current prospecting right for the 2 farms on a number of technical grounds. Importantly, the Court issued no direction to the DMR and it did not direct the Department of Mineral Resources to award the prospecting right to an alternative applicant.
? Nkwe as the registered holder (DMR approved) of a 64% right in the farms clearly has a number of actions it can pursue both against Genorah and the DMR. At this stage the Company believes that it isn't necessary given the court decision means that the DMR is in control of the re-awarding or rectification of the prospecting rights.
The above is PL(ayers) double talk, and given the Concourt decision. This " resistered holder" may be short lived.
Does anyone real think that the DMR are going to give Nooitverwacht and Eerste Geluk back to NKP in the near future, after the serve they got from the Judge. For this to happen, they need Beng behind them.
Someone has been backing Beng, and they are not going to give up these permits now.
NKP submitting a new 104 application means nothing, and this will be turned down if/when Bengwenyama Minerals does the same, backed by the Bengwenyama tribe. Eerste Geluk is the only one that would be a problem for them as Shadow has pointed out. As Shadow said, you could put in a surface claim for NZ.
(RB) Why would anyone post facts here?
You have not posted facts. You have posted the great Player.
Remember this from 1 Dec.
The decision has no impact on Nkwe?s current Garatau Project the subject of a Bankable Feasible Study nearing completion. A further update on the BFS will be made next week with the release of further financial modelling which sets a base case net present value of approximately 14 billion rand (US$2.0bn)
What was the BFS up date on the 7 Dec and the only one this year?
"Decision has no impact on Garatau BFS Project", full stop.
Different day, same story.
Everyone here deserves some straight up honesty, so I hope the next announcement is not more of the same.
NKP Price at posting:
45.0¢ Sentiment: None Disclosure: Not Held
