this could fly, page-10

Thanks Kiwi.

And then they got more shares for the JORC:

"(ii) The following material transactions comprise the majority of the balance of Prospects and Rights acquired during the
prior year:
? Nkwe had a commitment under a binding Heads of Agreement with Genorah Resources (Pty) Ltd (?Genorah?) to issue 63,000,000 common fully paid shares to Genorah upon Nkwe establishing a compliant resource of 20 million contained 5PGE + Au ounces, as defined by the Joint Ore Reserves Committee code, in respect of the Farms De Kom 252 KT and Garatouw 282 KT, collectively the ?Garatau Farms?. This milestone was achieved during the year ended 30 June 2009, with the shares being issued to Genorah at a value of $61,740,000. In addition to the shares issued to Genorah, a further 6,300,000 common fully paid ordinary shares were issued to an unrelated party as facilitation fees on meeting this milestone for a value of $6,174,000.
? Nkwe also had an option agreement with Genorah for the acquisition of a 59% interest in the Farms Hoepakrantz 291
KT, Nooitverwacht 324 KT and Eerste Geluk 327 KT, collectively the ?Tubatse Project? which was exercised during the year ended 30 June 2009. Under the option agreement, Nkwe issued 250,000,000 common fully paid shares to Genorah at a fair value of $32,500,000."

I guess it all adds up. Genorah have done well for themselves. I know a while ago you were harping on about parent companies and what NKP actually owns. Its a confusing mess IMO. eg

"1. Nkwe SA owns 100% of projects however under new Mineral and Petroleum Resources Development Act 2002 there is a requirement for BEE participation of 26% for private applications and 51% for state applications (until April 2005 ? thereafter 26%). Nkwe SA agreed a Black Economic
Empowerment (?BEE?) transaction with Blue Nightingale Trading 709 (Pty) Ltd (?Blue Nightingale?) so that it will own 30% of the expanded issued capital of Nkwe SA. This effectively will give Blue Nightingale a direct interest of 51% over the areas held under the JV, given Blue Nightingale?s direct 30% stake in Nkwe SA."

So NKWE SA will only have 49%? Then NKP Aust get how much? Nothing is ever clear and concise with this mob.

When a JV is finally struck it will be interesting what is left for us holders. I would almost prefer pure cash and no future interest in JV(similar to takeover).