suspension

I am back after being suspended.Did not enjoy the experience!

I wrote an incomplete swear word starting with S and got into trouble even though the same word was written in todays The AGE several times. Never mind rules are rules on HC.

I had been attempting to share with you info that i had read in the 2008 & 2009 Annual Reports. Cleared a few points up with NKP. By the way the funding is delayed but not an issue re timing.Note that I have been an NKP investor since 2004 and continue to support the stock. However I am still allowed to be critical if i see something that does am not jell.

Report Points

1. Was concerned that NKP had made several multi million dollar loans to Continental Coal and Genorah whilst it was short of cash and had to do a discounted placement at 25c in order to keep the operations running. NKP is not a bank so why loan money to "buddies"?

2. Was concerned that Genorah received via book entry some 376m shares ( 87% of coy) valued at 26c. Yes I know that NKP got the multi million dollar farms. If the sp ever gets to $3 they will make a GREAT killing.Then so will smaller investors.However the number of shares have tripled over the past year.

3. Could not work out why NKP sold DeWildt to Xstrata for $18m and yet "gave away" Kliprivier, Ghost Mountain and Tinderbox which combined had much more platinum for 30.4m MSH shares that are currently worth only $4m. Hope that MSH comes good at some stage! Good deal???

4. Could not work out why we went into bed with Delta Res in Liberia of all places and how much the failed venture cost NKP. Debt forgiven??? Good deal???


5.The 10m ( two lots of 5m) CCC options given to NKP as condition of loan do not appear to have any value. They expire end 2010 and 20c is payable. Details are "lost" in the Accounts. CCC shares have a sp of less than 6cents.Good deal????

Note for Brenden

You replied to my last post that i needed valium.

No need to be critical of my post that indicated IF the IGC deal lapsed it would have cost NKP 5 m shares and plenty of cash. Its a fact.

Its a bit like people disputing emails received from Shammy in Sth Africa. Details were remitted from SL and no lies told by receivers. Shammy's answer may be accurate. Time will tell. Not a major concern for long term holders.

Like you i await confirmation of loan terms. Although the loan may be delayed it appears that it will happen.

I am still confident that the loan will arrive any day and a resource upgrade will surprise all of us. BFS in the New Year will top it off.

regards