update out, page-53

Good news for holders as now they can decide to stay or go.
This bit needs to be Crystal clear as to who the Beng is.

"In Nkwe's opinion",?both communities who made the joint applications represent all relevant community interests on the two farms combined.

I thought the Con Court made it very clear who the 'relevant community' was for Nooitverwacht 324KT
Remember Genorah always considered Bengwenyama Ye-Maswazi Tribal Council,Roka Phash to be the "relevant community's"

This could easy fixed up with an e mail reply from PL and any skirting around this would not be good.

If it is Bengwenyama-Yama-Swati That is referred to, then this interview of The Bengwenyama-Yama-Swati trustee Zet Maphanga dated 9/1/11 must be wrong.


"The Roka-Phasha community now intends to pursue legal action against the Bengwenyama."

http://www.iol.co.za/business/business-news/ruling-gives-chance-for-rags-to-riches-1.1009555

Contacting Bengwenyama-Yama-Swati directly to confirm this would be the best.

It's good to see they finally came clean about Anglo.

Further from Nkwe?s perspective, the DMR and PAJA
reviews instigated by Anglo Platinum and the Modikwa JV respectively have been utilised to reserve Anglo?s rights and potentially look at other remedies available from the DMR outside of challenging the original award of the 5 farms to Genorah given the settlement agreement reached in February 2008.
(What will be the cost)

In terms of the agreement reached:
13 Feb 08
a) The parties will abide by the original decisions of the DME, firstly in refusing the applications submitted by Anglo Platinum and secondly in awarding of prospecting licences to Genorah;

b) The legal proceedings instituted by Anglo Platinum or its subsidiary companies, which were suspended in 2007, will be discontinued; and

c) Anglo Platinum, Nkwe, Genorah and ARM will enter into commercial negotiations to consider joint exploitation of their respective mineral resources.
(As we know Nkwe reneged on this with the X deal.)

If it is Bengwenyama-Yama-Swati and If Anglo will go away of a $/% then this is a good announcement of holders.
But this has cost NKP dearly. Not only it's Rep. but this would have cost a pretty penny. (Or though you bet PL consultancy fee will be through the roof)
You just know a C/R is on the way.

Until these deals are sorted and in writing, any talk of Margin loans, is a massive gabble on the management that has no more credit left. (Just my opinion. No I will not be buying or shorting)
And as for PL being a hero, Who got you into this mess by non disclosure.( people have had margin calls)

Good to see there seems to be some light
I hope this works out as they say for everyone.
Good luck next week.