[miningmx.com] — NKWE PLATINUM said on Wednesday it was still in negotiations over the dispute as to the ownership of certain farms controlled by the company and its majority shareholder, Genorah Resources.
African Rainbow Minerals (ARM) previously questioned the rights awarded down-dip from it and Anglo American Platinum’s Modikwa operations, to Nkwe. The parties has since been in negotiations, with the Department of Mineral Resources acting as moderator.
“It was indicated…that the negotiations would continue to be conducted under the auspices of the DMR and that Nkwe and Genorah were confident that within the framework provided that a commercial settlement would be reached,” Nkwe said in a statement.
“The negotiations between the parties are still afoot and the company is confident that under the guidance of the DMR resolution of certain important elements of the negotiations will be resolved.
“Unfortunately the interruption of the Christmas and New year holiday break coupled with the recent indisposition of senior decision makers within DMR has brought about an unfortunate delay in fixing the company’s future direction.
“These events were completely outside of the control of the company. However the board is comfortable that matters are on track and that a definitive announcement will be made within the next two weeks.
“The company is acutely aware of the valid and substantial concerns expressed by shareholders due to the extended period of the negotiation and will ensure that any binding outcome will be announced immediately in conjunction with a resumption of trading in the Company’s shares on ASX.”
