Now I am a bit warey of old agreements popping up that I wasnt tuned into...
The latest ANN 26th May 2011 talks about rooderand...and the Eastern Bushveld on page 4....
Note the part on pg 4 of ANN 26/05/11 re Eastern Bushveld..
"Realm has been actively following up the Section 11 applications lodged in respect of the Kliprivier, Ghost Mountain and Tinderbox projects located on the Eastern Limb of the Bushveld Igneous Complex in South Africa.
Recent correspondence with the South African Department of Mineral Resources has been positive and would indicate that the applications have progressed and could be fully approved within the third quarter of 2011.
Approval of the Section 11 applications will enable the Company to finalise the acquisition of the three PGM tenements comprising the Kliprivier, Ghost Mountain and Tinderbox projects." continues
*********************** Finalise the acquisition?? Is this Ghost mountain K and T package = Masedi PLatinum? KIWI what's the 'latest' re terms of this aquisition?
Is that the "Aquisition" deal on 10/12/09 NKP ANN re MSH (Morningstar)extension of share purchase agreement??? QUOTE... "MSH, through its wholly owned subsidiary Realm Resources SA (Pty) Limited ("Realm"), has acquired 49.99% of the fully paid ordinary shares in the capital of Masedi and NPS that were beneficially and legally owned by Nkwe.
Under the share purchase agreement with Nkwe signed in June 2009, Realm has the option to acquire the remaining shares in each of Masedi and NPS provided that certain conditions precedent are satisfied by 29 December 2009.
The conditions precedent include the parties obtaining the required consent of the South African Minister of Minerals and Energy for the acquisition of a controlling interest in Masedi and NPS ("Ministerial Approval"), in accordance with section 11(4) of the Mineral and Petroleum Resources Development Act 2002 (South Africa) (Act 28 of 2002) ("MPRD Act") and Ministerial Approval being lodged for registration with the South African Mining Titles Office within 30 days of obtaining the Ministerial Approval, in accordance with section 11(4) of the MPRD Act.
***Under the extension agreement, the parties have agreed to extend the period for completion of the acquisition of the remaining shares in Masedi and NPS until the Ministerial Approval process has been completed.****
As previously announced, upon completion of the acquisition of the remaining shares in Masedi and NPS, the Company will issue a further 15,220,435 Shares to Nkwe and a further 34,789,565 Shares to the former shareholders of Realm."
#################################### or did that lapse,how do you read it? is there a new RRP aquisition agreement?
Look at the RRP structure with the preceeding info in mind....
In other words....how can we value nkp with these half done deals that we SHs are loosing track of or havent been told if they have lapsed?or are just slow learners.
Or am I not doing enough homework? Some tidying up and ann would help a lot,imo.
With NO RESPONSE from our directors to the RRP /NKP ANN dated 25 may 2011 will this end up a lapsed offer?ie IGC merger? if it HAS lapsed. OR ...is it an announcement regarding an ongoing 'extended' agreement? ie MSH extension re Masedi platinum
The latest 2010 annual report should help...I'll check.
I think this is why some deals seem lopsided.
NKP Price at posting:
26.5¢ Sentiment: None Disclosure: Held
