On the 17 Nov, Genorah are holding an EGM - a vote to approve the full sale of their script?
Zijin Need to acquire all of G shares, and then Ours, to achieve 51% project ownership and get project finance from china.
There's no secret that Zjin have long sought to do this. With first attempt back in 2011 for 50c.
Zijin is about to become the Major holder.
And G poor financial state has meant that until now, the all but filed mining licence was held in limbo. Requiring the financial muscle that only Zijin could afford can now proceed.
I still think it will take a couple of weeks for the monies to transfer, so it might be such until we see the major holder notices come to asx.
What will the market do when the decaying head of the dragon is cut clean off, and a new aggressive machine call Zijin sprouts a new?
Genorah will have surrendered complete control of garatua. They will then only hold a minority 26% BEE compliant holding. And have No shares of NKP.
Its ASX minorities, and Zijin Mining who hold NKP shares, and they will take us over to secure full ownership of NKP, and then exceed their 51% requirement at project level to get finance.
Its coming, 30c for xmass.
How long will Zijin wait until they pounce? will they let the shares begin to rise, when we see the major holder notice issued? or what about when the mining licence is processed and duely issued.
What has held NKP back for many years? the head of the decaying dragon. Genorah. When the incompetent is removed the market will awake and NKP will have one last glimmer of cheap entry until it is catapulted for its final swan song, and then removed from quotation from the ASX.
NKP Price at posting:
8.1¢ Sentiment: Buy Disclosure: Held