STTCOMP NKP, FA Long
PGM-Gold
(last traded)SP-4.5c
Mktcap-40mill
cash -3mill+ est.
Zijin Group holds 60% of NKP
Has been delisted since late 2016 ...but tomorrow it opens up again>>3rd biggest PGM resource in the world located S.A
Company Overview- The Company owns 74% of a Mining Right over the Garatau Project. The Garatau Project consists of three contiguous tenements Garatouw 282KT, Hoepakrantz 291KT and De Kom 252KT, located in the Eastern Limb of the Bushveld Complex, approximately 20 kilometres to the northwest of Steelpoort town, in an established mining district with extensive existing infrastructure. No mining tenements or beneficial percentage interests in farm-in or farm-out agreements were acquired or disposed of during the quarter. To date the Garatau Project has an independently estimated total resource of 43.69 million ounces (Moz) of 3 PGE + Au (20.51 Moz from Hoepakrantz, 21.78 Moz from Garatouw and 1.40 Moz from De Kom).
LIFTING OF NOTICE RECEIVED FROM THE SOUTH AFRICAN DEPARTMENT OF MINERAL RESOURCES. Nkwe Platinum Limited (ASX: NKP) (“Nkwe Platinum” or “the Company”) is pleased to announce that the Section 47 (1) Notice of intention to suspend or cancel the Mining Right in terms of the Mineral and Petroleum Resources Development Act (“MPRDA”) over the farm Garatouw 282KT within the jurisdiction of the Greater Tubatse Local Municipality issued on 11 October 2016 (“Notice”) has been lifted by the Minister of Mineral Resources and is no longer applicable. Subsequent to receiving the Notice, the Company requested voluntary trading halt and suspension of its fully quoted securities on the ASX pending the resolution of the issues raised in the Notice as announced on 13 November 2016. The Company made various representations to the Department of Mineral Resources where the Company was instructed to implement the Social and Labour Plan (“SLP”) commitments that could be implemented before mining operations commence. This led to the delay in the lifting of the Notice as the lifting of the Notice was conditional on the agreed programmes being implemented and the Department satisfied with the progress. The Department is now satisfied with the progress to date and the Minister of Mineral Resources has lifted the Notice. This reaffirms the Company’s Mining Right over its tenements. As a result, the Company will be seeking reinstatement of its fully quoted securities on the ASX.
Around a third of NKP -PGM is palladium
View attachment 833273
Valuation done by Venmynn Deloitte Johannesburg back in December 2014 it was suggested under a "reserve in ground valuation" Nkwe was worth USD20-USD36cents per share !!
Looking forward to tomorrow
Disc-Holding NKP
