"It would help me, and others here on HC have concurred , that a diagram of the structures, %, connections etc would assist us to get a clear picture of the holdings."
I agree entirely because media articles like the one you quoted below are confusing the percentages that dont add up and it makes it sound as there is some sort of agreement that Genorah/Nkwe were only awarded these rights if Nkwe committed the funding to development while the communities had a free carried interest of 70%. But these are snippets from the ASX releases and the word potential doesnt sound to postive.
Nooitverwacht "As disclosed in the previous announcement, Nkwe is currently evaluating (as a potential 50% interest holder)"
Eerste Geluk "Genorah Resources is a major shareholder of NKWE and by virtue of back-toback arrangements with Genorah, NKWE will now have its 64% interest in the Eerste Geluk farm returned."
Communities in Steelpoort have found a partner to mine platinum in the South African town after they won the right to resources on ancestral lands, it has been reported.
Nkwe Platinum is to be granted a 30 per cent stake in the 20 million-ounce project in return for funding and skills to develop the scheme, according to Independent Online.
The news provider reports that Nkwe will become the strategic partner in the Limpopo operation through its majority shareholder Genorah Resources.
It follows the award of prospecting mining rights to the Roka Phasha and Bengwenyama Yama Swati communities by South Africa's Department of Mineral Resources.
Sizani Nkosi, a member of the Bengwenyama Yama Swati Royal Tribal Council, told the news provider: "In the application by Genorah, the communities had been promised a stake of between five per cent and ten per cent of the operations.
"Now the shareholding has moved to 70 percent, Genorah will own 30 percent. We are happy now."
Australian-listed Nkwe Platinum's main assets are the Tubatse and Garatau projects, which are underlain by both the Merensky Reef and the UG2 chromitite seam.
It plans to develop two mines with a combined annual production of more than one million ounces of platinum group metals.
NKP Price at posting:
33.0¢ Sentiment: Buy Disclosure: Held
