what is the scope for production to go to 2opa

I have been in NKP since April in a fairly smallish way (52,000 shares - sold out and bought in again at 32 cents).

My belief is that Xstrata will give the go-ahead for the 1 million ounce per annum mining operation. At current PGM prices, and NKP shares, this could in time mean that NKP would have a share price of $3.50 to $4.00 (my rough-as-guts estimate). Production might start in 2013 (assuming the world does not collaspe in the meantime.

So from its current price NKP seems to still be a 5 to 6 bagger but over a three year timeframe with all the risks associated. This would be a return of 75% per annum. On balance the risk/reward ratio still looks very good given what is now available in the sharemarket.

What I am wondering is what are the chances of NKP (and a possible partner) increasing the level of production to say 2 million ounces per annum How could this be achieved and over what timeframe? Could NKP go it alone with the profits from its Xstrata JV and develop an operation by itself? If it could bring on another 1 million ounce per annum mine at a low cost then its share price has the potential to be a 10-15 plus bagger.

Any views?

loki