nkwe platinum: between the jse and xstrata , page-37

Well QS

Whether BS is talking BS only time will tell.

But his suggestion that the ounces are 'deep' ounces surprises me (after all Nkwe didn't write the BFS) and geology is science not art.....

Merensky Reef:
~2.2m thick
from a depth of 350m

Situated at 370m above the UG2 Chromitite Seam
UG2 Chromitite Seam:
~ 65cm thick
from a depth of 720m

Shadow Boxer this guy got far more wrong than just the capex imo - yet I agree usually he writes very good material so you have to ask why so askew this time around?

Perhaps he is related to Mick Davis?! (joke)

That his call on capex of at least 12b ZAR is just about double the capex NKP referred to in its latest Annual Report ("Capital expenditure of between ZAR 6.5 billion and ZAR 8.3 billion") is staggering. His dismissal of the BFS by high quality independent professionals equally so - I doubt very much he thought for a second that he'd be 'quoted' on HC!?

Moreover, perhaps BS should answer the question on which other projects X is 'assessing' does it have 5 employees working on?

Why it hasn't walked by now?