options announcement out, page-8

i'll start by disclosing i have a substantial shareholding at a low price in this company and have never been interested in the options - for a number of reasons - and therefore to that extent, my comments (by definition) should be construed as biased.

Unfortunately, the chances of a JV materialising before option expiry would be nothing short of miraculous and a mere gesture of goodwill by the potential participant. Why would you want to show your hand now, after a long period of consultation with NKP. You would want to limit your potential share exposure and therefore equity contribution wouldnt you?!

I'm a believer in the company, have lost faith in management (although not completely), and believe the fundamentals for NKP will ultimately prevail . There are too many with vested interests in this company, including management and BEE owners for the end prize not to materialise.

I hope for the sake of option holders i'm wrong

Best of luck