Look Guys,Apart from a modest saving in capex the original...

Look Guys,

Apart from a modest saving in capex the original estimate was ZAR 6.5 to 8.3 billion which is now down to 5 to 7.5billion which lets face it at best case scenario its a saving of approx AUD$217 million or at the lower end about AUD$116 million!!! - Which has come at the cost of 8 months intensive research and probably cost plenty too!

A best case scenario which now appears has been largely offset by an increased cost per ounce which is now up to USD$595 which at 400,000 ounces per year equates up to a AUD$40 million a year operating expense increase!

So after 3 to 5 years of operations the potential savings made in capex will have largely evaporated! So much for BFS Optimisation!

Add to this No water until - 2014 (maybe)
No Power until - 2013 (maybe) and only 30% of power available until 2016.

Why do I say maybe? Because there are water / power shortages in S.A. There is no guarantee any of this will happen.

I'm with Rod - This project could be on the back burner for a LONG while yet!

Had you invested in Lynas Corp Over the last 3 months 300% return on a fully funded sure thing!

My opinion, best case scenario for Nkwe is about the same but with the total lack of REGULAR credible and reliable info coming from management...

You Could be waiting until December 2011 fellas!

In the meantime what else have you missed while your money was tied up in this white elephant?

Where is the resource upgrade so many were expecting? The figures are identical to February.

At the very least today offered management the opportunity to give some explanations and the explanations given were rather poor and lacked any real credibility.

The Moon could be made from solid platinum, but without water / power and an economical way to transport it to market it would be WORTHLESS!

The same holds true for Nkwe.