Yes to the idea that some sort of PGM shuffle is taking place.. I wasnt going to post this next opinion piece because it might have been stretching the imagination but I am not the only one finding info re speculation about what could take place around the PMGs.
This article was dated 22 May 2011...
Opinion about Sylvania ..by large shareholding Hedgefund. ""As part of this process the company should consider the merits of spinning off its Northern Limb, Everest North and iron ore mining projects.
Africa Asia Capital (AAC) ? Sylvania's largest shareholder ? has major ties to listed miner Eurasian Natural Resources Corporation (ENRC) and is seen by many as a natural fit for a buyer."
ENRC, Eurasia Natural Resourses Corporation, appears to be a different co to Eurasia Mining?? that Nkwe bought Masedi PLatinum from in 2004? p22 here... http://www.eurasiamining.co.uk/downloads/Eurasia2004ar.pdf I dont think they are the same... dyor.
Pursuant to the terms and conditions of the Asset Sale Agreement, NKWE will pay the Company, iop? a final payment of $50,000,000 from NKWE (Final Payment) within 30 days of the earlier of: ? the grant of mining rights in respect of the Tubatse Project; and ? XStrata South Africa exercising its option with NKWE such that Xstrata South Africa will acquire a 50% interest in the land the subject of the Tubatse Project."
Could they sell it to some-one else?... OR dictate/stifle the course taken? ie. if X werent the JV partner? would the 10% stay with iop? It is a very X centred agreement with apparently no other contenders written in??imo. Has anyone considered this? The AND written between the 2 points above makes me think both have to occur but the payment is required within 30days of which occurs earliest??? Is that right?
I had better take another look at the agreement on NSX Look at Prospectus... http://www.nsxa.com.au/announcements_list.asp?nsxcode=IOP¤tpage=3&group=
What do others think?
NKP Price at posting:
27.0¢ Sentiment: None Disclosure: Held
