nkwe platinum: between the jse and xstrata , page-23

In simple terms.....

X pay capex 1Bill
X buy NKP 1Bill

Garatau earns 400M a year.....so initial return 20% per annum.

(I assume X doesn't pay interest as it already has the cash?)

X gets Tubatse as a massive wildcard future bonus for free.

Pay back the 2 bill in 5 years.....45 years left to make either 400M per annum or 800M with further capex into Tubatse.

Eguates to $1.50 a share....

In a nutshell, would this appeal to X ??

All i can say, if I had the cash and someone offered me a property whose rent would pay it off in 5 years, and then it kept on earning the same for the next 50, I'd jump at it.

As i said.....in simple terms.