summary, page-6

absolutely right ralph,

wherever this goes short term, = buying opportunity, not selling.

Yes, there is a cloud of tubatse.

But simply not relevant to garatau, and the JV that is around the corner.

I guess the question, for the JV, is whether you're after a 23m oz project (garatua) or a 23 + tubatse.

Maybe if your Xtrata you want the lot?

But this doesnt remove the others who would love a 23m oz project, the B plan which NKP has been working on.

Synergies of other players in the bushveld complex, who of them, would not want to be lining up if X say no, cause of not having the upside to tubatse, if that turns out to be the case.

Boo hoo for them.

What NKP share holders need to realise, is that such a B plan, would still likly pay for the capex, and imply same NPV of 2b, only to less shares. (after undillution tubatse revoked shares).

Find me another company with 23m oz of PGM, with advanced BFS, and on the final leg of landing a JV that will re-rate the stock, on a project, whose tenure is not in question.

Screaming BUY, not sell for mine.

Emotion, uncertainty, for what? a side show.

Focus on what is in hand, and what is real and present.

Garatua, 23m oz, BFS, JV. RERATING !!!!!!!!