SA mining rights issues are reflected in the Platfields JSE share price.
Platfields is a junior PGM explorer that is facing contested mining rights and PAJA process brough about by guess who? Anglo/ARM!
Share price was decimated on JSE listing falling from ZAR 1.40 to as low as ZAR 0.15. Some clarity has come out in recent days regarding a mining rights deal and sp has recovered to ZAR 0.35.
NKP are well justified to keep trading in suspension as in this environment the panic selling would have decimated SP and many of the small holders shares would have been bought out on the cheap.
Clarity will come to NKP and if Platfields can do a deal there is no reason why NKP can not and will have the DMR behind pressing all parties.
Feels like we have been through the worst and NKP management actions may have well saved existing small shareholders millions (except for those who are really gambling and went short like vultures sensing a meal).
BR Max
NKP Price at posting:
45.0¢ Sentiment: None Disclosure: Held
