Why Zinjin needs to buy out minority shares

While 10-15 cents may seem like a good price for NKP today it is nowhere near a fair valuation. In another thread Macleod posted a so-called model using the Norton take-over but in fact the circumstances around the upcoming Nkwe take-over are completely different. Norton did not have to repatriate funds into Australia and was able to develop the mine without buying out a small number of shareholders rumoured to have wanted 50c.
For Zinjin to proceed development of the Garatau project in SA they need a complete take-over as the SA authorities will not permit operation of a company which is based in Bermuda.
The reason they are now offering Norton shareholders less than in 2011 is because the capex costs turned out to be higher and the grades are lower than what Zinjin had calculated in 2011.
So IMHO the Norton take-over is not a model for NKP, and we can hold out for 30 cents which is a fair price based on valuations. Do not be deceived by the low-ball price that is soon to be received by Genorah. Remember Genorah has to pay tax on the sale so lower price meant less tax. We don't know all the other ways that Genorah is being compensated for giving away their shares.