Brenden, after the BFS is released the $10mil buys Xstrata 90days in which time they are required to commit to the project. Obviously if they dont want the project, then they needn't pay for the extra 90days. Its an option afterall.
Nobody even knows if the option still exists. We know it expired, but was it ever extended. PL emails at the time basically said its expired but we will honour it if Xstrata want in. Makes sense. We want a JV. No point arguing over symantics.
If the option legally exists would be concerning because how could we possibly do a JV with Anglo if Xstrata have a say.
And how can we do a deal with Xstrata when Anglo has an agreement between them, NKP,DMR and 'possibly' ARM.
Either Anglo or Xstrata need to officially walk away before this plays out to finality.
Ofcourse the Xstrata option(if it exists) is only over Garatouw, so we are free to deal with allcomers for Tubatse.
NKP Price at posting:
23.5¢ Sentiment: Hold Disclosure: Held
