NKWE -NKP PGM+ GOLD who holds shares Vs Zijin

[JBmurc]

Anyone on here holding NKP shares and not part of the NKP united minority group? (and if not why aren't you buying some!!)


>>>the Zijin/JJ 8c offer for our NKP shares is a JOKE!!! thats valuing are world class PGM+au assets at less than 70mill

>>>>>>>from last Qtr report

The Garatouw Project is at a pre-development stage and a Definitive Feasibility Study (DFS) demonstrated the technical feasibility and commercial viability of extracting the mineral resources on Garatouw farm.

The De Kom and Hoepakrantz farms are at an early exploration stage. The critical mining regulatory authorisations such as the Mining Right and Environmental Authorisations and Water Use License (“WUL”) have all been granted by the relevant Government Departments.

To date, the Garatau Project has an independently estimated total resource of 43.69 million ounces (Moz) of 3 PGE + Au (21.78 Moz from Garatouw ,20.51 Moz from Hoepakrantz, and 1.40 Moz from De Kom).

A summary of the Garatau Mineral Resource Statement is given in Table 1 below. The Company is busy with certain upfront preparations before commencement of project execution.

These preparatory works constitute the Company’s Early Works Programme (“EWP”). Further, the company has finalised an operational readiness plan to prepare the Company and the operational unit for safe and optimal execution of the project as it transitions from engineering and design to capital project implementation.


>>>> the leaders of the U.M.G believes a valuation of the above project should wee see a risked value around 40c AUD(and is currently underway in getting one from

U.M.G holds around 270mill of the 360mill shares not held by Zijin/JJ

Zijin/JJ needs minumin 143mill more shares to push through 100% takeover of all shares

IMHO the offer will be lifted after the AGM next month

But Zijin puppet NKP mgmt will be forced to come to the Neg table when the offer get minor interest

[Joshuatree]

Ive got some and get the email .But do i need to do something so my votes count?If so do i just email Xuan about this?

[Xerof]

Just wait. Nothing at moment. There will be a deed sent out to be signed shortly

[cammo]

Also waiting for deed

[JBmurc]

Sounds like Zijin won't talk to the group to after the General meeting so a couple of weeks...great trading today looks like my 7.5-8c purchases helped set off the highest close for some time >> brilliant

[JBmurc]

Anyone on here buying more I took up another up 500k yesterday .. here's hoping if UMG holders can keep buying it really will send a message to Zijin/JJ that 8c is a joke >>

[cammo]

I'll buy more in next few days

[Joshuatree]

I just want out of this horror story, for a profit of course.

[cammo]

Does sharetrader 78 = jbmurc?

[Xerof]

Oh, yeah, that makes sense. Seems it's only kiwi's buying - I was the last three trades today

[JBmurc]

Does sharetrader 78 = jbmurc?

That is Correct

I see the deed is out get signing guys ! send a clear message to Zijin/JJ we won't be bullied into low ball offer

[JBmurc]

I'm sure NKP/JJ mgmt are having issues sourcing a Valuator to back up the 8c offer which values our net PGM resource at less than $3 per resource oz

-Zero value for gold other metal credits etc and nothing for deeper resource exploration upside which should well add tens Moz of PGM

Nothing for permits/license >>

It's beyond comprehension valuing such a large PGM project at these levels >

Just maybe another party would like our "United minority Group" shares in an off-market transaction ??

Disc-Buying more today 8c going look very cheap come the final outcome IMHO

[younga]

If the price they're offering is 8 cents, why buy them at 8 cents?

[JBmurc]

If the price they're offering is 8 cents, why buy them at 8 cents?

because we as a united group have turned down that offer and through legal channels have let NKP mgmt understand this..

If NKP goes ahead it would be just a waste of funds..

they want controlling stake then they need to wake up and stop the endless BS

Independent valuation backing up a fair value both parties agree on

[Xerof]

To be fair, there is no offer yet, just an indication. As JB says, pffft to 8 cents, it's worth multiples of that, and the Chinese know it. They also know they must get to 100% in order to receive their funding, and to repatriate the asset into RSA.

Discl: held years ago, and bailed almost all of them, hence the ongoing interest via a residual holding. Bought back in a while ago at 6.6, then again last week at 7.9 and 8

Our extremely well organised and funded group hold over 25%, so they cannot get to the key 75% level needed to 'approve a T/O by merger', let alone 90%

30 cents will do it for me

[JBmurc]

To be fair, there is no offer yet, just an indication. As JB says, pffft to 8 cents, it's worth multiples of that, and the Chinese know it. They also know they must get to 100% in order to receive their funding, and to repatriate the asset into RSA.

Discl: held years ago, and bailed almost all of them, hence the ongoing interest via a residual holding. Bought back in a while ago at 6.6, then again last week at 7.9 and 8

Our extremely well organised and funded group hold over 25%, so they cannot get to the key 75% level needed to 'approve a T/O by merger', let alone 90%

30 cents will do it for me

Yes and every share the U.M.G Buys and holds the better the chance we will get a much high price as IMHO after the JUNE general meeting NKP will release valuation backed up with a higher offer 12c etc hoping it will be enough to get the the extra 14.75% ... as I'm sure they know now quite clearly 8c is a joke with zero chance of getting more than 1%

[JBmurc]

9. Has the board of NKP made Zijin aware of the fact that its Takeover Proposal is unlikely to
succeed on its current terms because it does not have the support of sufficient minority
shareholders who can and will block the Takeover Proposal?

Nkwe board is unaware of this claim make being established so no. (hahs yeah right)

10. Is the board of NKP engaging with Zijin in relation to the Takeover Proposal with a view to
extracting a superior offer?

Yes. (More like Puppet NKP board is working hard for Zijin to con enough minority S/H to cross the 75%)

11. Does the board of NKP consider it is currently in full compliance with its disclosure obligations
under Listing Rule 3 of the ASX Listing Rules?

Yes, we consider we are in full compliance. ??

12. Does the board consider there to be any risks to the assets of NKP in South Africa if Zijin is
unable to secure full control of NKP? If so, what are these risks and what steps are being
taken by the board of NKP to mitigate against these risks?

No.

13. Is NKP able to develop its assets in South Africa into production in its current structure as an
ASX listed company?

Yes, however, the company will need to raise financing to further develop its assets and
bring these into production (well funny how NKP mgmt have tried there best to run ASX listed NKP into the ground since relisting zero engaging with the market or S/Hs to see a Higher SP)

[Joshuatree]

T/H change of control transaction!!
Download Document

[Joshuatree]

Offer of 10c , 75% yes vote required.I thought but it looks like a simple majority required!! Waiting to hear from our man.

[t.rexjr]

Offer of 10c , 75% yes vote required.I thought but it looks like a simple majority required!! Waiting to hear from our man.

I can’t fathom how an offer can be justified by comparison to recent share value...

[Joshuatree]

It can't be. One est of $50 billion worth of platinum in the ground. Many stale holders will want out, divide and conquer is the tactic.

[shasta]

It can't be. One est of $50 billion worth of platinum in the ground. Many stale holders will want out, divide and conquer is the tactic.

Remember of course in situ valuations are a big no no on the ASX, as not part of the JORC guidelines. NMT got pulled up when an article stated recently they had $100 billion at the Barrambie project which is being demerged.

Looks like the 10c is a done deal, whilst not reflective of the potential shareholders believe, provides certainty and an exit.

Sovereign risk was always going to discount the SP.

[JBmurc]

Far from a done deal ---

Post from Norm on the NKWEANS facebook page ... numbers I've done on historic PM deals come around the same levels

-We all know the Z mob are trying to screw us but after some communication with our leader, I got the following calculations as a reply.
The 0.5%-2.5% will depend on many factors. The "in-ground resource" valuation will look at the classification. These will be Measured, Indicated and Inferred. The other thing to look at is "Mineable Resources" or sometimes the term used is Mineable Pit. Just as a general rule 90% of Measured resources are used in the Mineable Resource, 50% of Indicated are used in the Mineable Resources, 25% of Inferred are used in Mineable Resources.
Below is the table from NKP's Annual Report:
The measured category will likely achieve 2.5%. The Indicated is probably 1% and Inferred is 0.5%.
From the table these are the reserves in the following categories:
Measured- 2.9 + 3.33 + 3.91 = 10.14Moz
Indicated- 4.78 + 3.09 + 5.92 = 13.79Moz
Inferred- 3.17 + 4.51 + 3.6 + 7.09 + 0.52 + 0.88 = 19.77Moz
Total = 43.7Moz
Your 64.59Moz is wrong. The resource is 43.7Moz.
Platinum $USD794*1.36 = $AUD1,080. Therefore 1% = $AUD10.8
The valuation becomes:
10.14Moz*$AUD10.8*2.5 + 13.79Moz*$AUD10.8 + 19.77Moz*$AUD10.8*0.5
= $AUD273.78million + $AUD148.932million + $AUD106.758million
Total = $AUD529.47million
Nkwe 74% portion would theoretically be $AUD391.8078million
This would be AUD43.92cents per share
If you apply the "Mineable Resources" then the value does change dramatically:
273.78m*0.9 + 148.932m*0.5 + 106.758m*0.25
= $AUD246.402m + $AUD74.466m + $AUD26.6895
Total = $AUD347.5575million
Nkwe 74% portion would theoretically be $AUD257.19255million
This would be AUD28.83cents per share.
This is MUCH higher than the current offer of AUD10cents per share.
Just note that this is only ONE valuation methodology.
When it comes to valuations, to make the valuation higher or lower you can change the parameters I mentioned above. Lets say we want to make the valuation higher you can make the case for Measured Resource = 2.5% and 95% in Mineable Resource, Indicated Resource = 1.25-1.5% and 60% in Mineable Resource, Inferred Resource = 0.75% and 35% in Mineable Resource.
In the end a economic transaction is a point where the buyer meets a seller

Personal mid teens and I take my profits

[cammo]

Firmly in no sell party. Until x says ok. If legal plays ok , we will see a good result.

[JBmurc]

From NKP ann report 2016-

The Garatouw project is a premium project with a total of ~21 Moz of Merensky reef resource, which is one of the largest remaining Merensky reef resource owned outside of the major platinum mining companies.

The Merensky reef is well sought after in the industry mainly because it is much easier to process metallurgically and in the Garatouw mining area it has the added advantage that it is wide, averaging 2.2 m, making it amenable to mechanized mining methods which are much cheaper compared to the traditional conventional narrow reef orebodies which have formed the backbone of traditional major platinum mining companies.


Further, it is well known that major players are abandoning narrow reef conventional mining in favour of exploiting the wide reef mechanized mines such as the Garatouw Merensky project supporting the premium nature of the Garatouw asset.

A technical feasibility and commercial viability of extracting these mineral resources has been demonstrated by the delivered definitive feasibility study. The Garatouw Project is ready to commence mining as the critical mining regulatory authorisations such as the Mining Right and Environmental Authorisations are all in place.

[Joshuatree]

Zijn are still trying to holdup screw shareholders all the way to a 10c payout which is far below the fairvalue, re double. Great to see the good fight from the group of small shareholders when they unite against a completely unscrupulous company. Credit to Xuan Khoa Pham and others.