what do we do, page-12

I believe everything is on track but everybody is nervous. The price of platinum is down, was in the 900eds & is currently in the 1000ends. It’s helpful to remember Peter Landau (who is on the board of directors for Cape Lambert & NKWE), said that platinum would drop to the 900eds & he made that statement when platinum was in the 2000ends, so the parties would have factored this in when they did the deal. All we are waiting for is the independent valuations which will be in very soon.
Also we know Timothy Turner is cash strapped, as indicated when he cashed in some of his cfe share a couple of months ago & I’ve got a feeling that Tony Sage could do with the cash (we can relate to that, can’t we) so they would be pushing ahead with the deal.
These guys also have an extra incentive to get it through in October; TS has 1,500,000 options & TT has 500,000 of them & they expire 31/12/08. If thins dragged on they would have to come up with the extra cash to convert them & they wouldn't want to let this happen. At current prices it’s almost not worth converting but to let them slide is like walking away from $300k for TS & $100k for TT. As I understand, they don’t have to exercise these if we get taken over, they get the same share price less 20c (the exercise price).
Igc holds the key & it looks certain that Igc, NKE & Xstrata have worked out the deal, just waiting for that valuation.