NKWE -NKP PGM+ GOLD who holds shares Vs Zijin
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
Some of the Q & A from the meeting AGM I found interesting
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)
Even at 20c this is dirt cheap
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.