updated asx announcement

Genorah Court Decision
Nkwe Platinum Limited (Nkwe or Company) advises the market of the
following regarding a Constitutional Court decision made yesterday in South
Africa regarding 2 farms (Nooitverwacht and Eerste Geluk) which make up 2 of
the 3 farms of Nkwes Tubatse Project which it has a 64% interest in.
The decision has no impact on Nkwes current Garatau Project the
subject of a Bankable Feasible Study nearing completion. A further
update on the BFS will be made next week with the release of further
financial modelling which sets a base case net present value of
approximately 14 billion rand (US$2.0bn).
Nkwe were not a party to the proceedings but the judgement does
have an impact on the current status of its 64% interest in the 2 southern
farms Nooitverwacht and Eerste Geluk which are the subject of
exploration drilling.
The Court set aside the current prospecting right for the 2 farms on a
number of technical and administrative grounds including whether the
Department of Mineral Resources (DMR) had met all the technical
requirements of the application and whether the requisite consultative
process with the local community had been adhered to.
Importantly, the Court issued no directions to the DMR and it did not
direct the DMR to award the prospecting right to an alternative
applicant.
Nkwe as the registered holder (DMR approved) of a 64% right in the
farms clearly has a number of actions it can pursue. At this stage the
Company believes that the key course of action is to engage with the
DMR given correspondence received from the DMR confirming that it is
not the their intention to compromise Nkwe's (and any potential
investors) security of tenure with regard to mining in South Africa. In
Nkwe's opinion so long as the proper review and application process is
followed, it will be able to ensure its rights remain in tact.
Nkwe has commenced discussions with the DMR and the local
communities on the two farms as represented by the Bengwenyama-Ye-
Maswati Royal Council and Roka Phasha Tribal Authority to expedite this
matter and remove any uncertainty. The Council were an intervening
party to the proceedings and made submissions that the applicants did
not represent the local community. The communities are shareholders in
Genorah (as is the case with all of the 5 farms) and Nkwe undertook a
significant amount of community related activities whilst drilling on the
properties.
Nkwe is confident that an outcome will be reached which preserves its
64% interest in the 2 farms. In the interim, the immediate focus is with the
Garatau BFS and the commencement of development of Nkwes
flagship asset.