"PS NKP is not in a JV with Xstrata. That's a fact, pure and simple. A JV is a well defined term in corprate law."
I just searched the Corporations Act (yes, I need to get a life) and could not find the definition of a joint venture. Hardly well defined, don't you think.
I did however find thid definition on another government website -
"Non-entity joint venture
An arrangement that the Registrar is satisfied is a contractual arrangement:
under which two or more parties undertake an economic activity that is subject to joint control of the parties, and that is entered into to obtain individual benefits for the parties, in the form of a share of the output of the arrangement rather than joint or collective profits for all the parties."
Still open to some interpretation as far as I'm concerned.
NKP Price at posting:
56.5¢ Sentiment: LT Buy Disclosure: Held
