Actually Anglo Plat held the rights to these minerals before and before they could get the old rights converted the DMR were allowing the likes of Genorah to dolly up an application for some of them and granted these rights before APL could get their rights converted. Therefore they have every right to attempt to get the rights back and the community will throw its lot in with whoever gives them the best deal IMO. However its harder for Kkwe to do a deal because of the way they treated the community.
Actually last time I posted on Nkwe I held shares/ options I think and with all the blind faith and no reality I sold them - good move I suppose in hindsight.
I do think people should be angry - Nkwe cannot IMO hide behind the subtle separation from Genorah they own 64% and control Nkwe, its board and its direction. There is an article on moneyweb by a respected journo read it it makes for very interesting reading about Nkwe and its people.
The shareholders should IMO also be angry at PL who represents their interests in Nkwe as its local Oz director. I never linked the Brett Kebble saga to it before and PL must have known about access to these assets being restricted etc.
Then we have the ASX which did nothing to force a clarification announcement - Why not it would have helped people exercise caution.
So today the situation is Nkwe is bleeding and the pack of dogs is seeing who can take a bite out of it.
I am not looking for an entry price I am looking for other investments that dont have this kind of risk - Oh yes RSA's mining rights have been dealt a real blow and yes I think for the DMR to go and award these rights to Nkwe or Genorah is not possible IMO. So yes if you mine in RSA and you used these opportunistic processes to gain a financial advantage you may well be having to spend money defending the rights you got.
Sorry but as usual
NKP Price at posting:
45.0¢ Sentiment: None Disclosure: Not Held
