zijin $20m facility needs to be in

There are a few people who think just because we approved of the deal that the stock should re-rate.

The re-rate was never on the AGM outcome rather when Zijin will officially put up their $20m facility (convertible bond). I believe that one of the Zijin boys will also be joining the NKP board as well.

This is not a done deal until the money (or facility) is made avaliable to NKP.

I believe that without the mining right notarisation on Geratau and Hoepakrantz nothing is going to happen. The notarisation is being worked on. Knowing how South Africa operates I would expect this to take anywhere between 2-3 months due to red tape. The faster this gets done the better. Honestly if I was Zijin I would not even put up this $20m until the notarisation is in place. Reason is simple, without notarisation the resource has no chance of getting out of the ground.

As for people who like to talk about the Bengwenyama case, just my gut feeling is that Zijin will most likely make a move for NKP before this Beng stuff is even settled. The reason is that in their valuation they will just take N and E farm as zero value due to uncertainty. If you read back on the quarterly or half yearly NKP has already done an impairment on these two Tubatse farms. Sure some (those with the high averages) will throw their arms in the air saying "this is not fair" but as long as I make money I don't care what is fair or not.