Tubatse Unknown

My reading of the judgement lays blame on the DMR with regards to its handling of the Bengwenyama Tribe's applications and allocation over the farms.

This judgement directs the DMR to give the farms to the B Tribe. Therefore in simple terms Genorah and will Nkwe loose control over the farms.

Interesting that all three judgements to date at the various courts have not looked favourably on the Minister nor Genorah.

Can Genorah lodge another appeal? I am unsure into which court such an appeal will be lodged. The case has gone thru several courts including the Constitutional Court. Based upon the latest judgement there does not appear to be areas of comfort from my reading but with no legal background.I noted that the Minister was passive and may not have contributed to the case.

NKP shares issued to Genorah

On face value you would expect that the majority of the 250m shares should be returned and cancelled.

However NKP shareholders do not have access to the original agreement which may have passed all risk to NKP in the event of any legal dispute forthcoming.

The other issue is that the majority of directors past and present are also Genorah shareholders. Why would they want to have the NKP shares cancelled especially if they are negotiating a sale of these shares to Zijin? They require to sell all their NKP holdings to Zijin in order to pay their legal bills and fill the empty coffers. Do you honestly see them voting to have the NKP shares cancelled?

In my opinion the joint directors of Genorah and NKP would have ensured that all risks would have been covered. Maybe Peter Landau is the only person who can shed light on the agreement he signed on behalf of NKP back in 2007?

Zijin

As stated by many Zijin would have done its due diligence before entering the NKP register. There was always a major risk regarding the Tubatse farms especially after the Con Court case. Had NKP kept the two farms then this would have added a few additional cents in any takeover valuation. Unfortunately this may not occur.

Lets wait and see what the NKP Chair ( also a Genorah director) has to report to shareholders.