Nkwe Platinum is intending to list with the Johannesburg Stock Exchange in June, following the resolution of the legal fight over the prospecting rights of five contested exploration properties in the Bushveld Complex.

A settlement has been reached after Anglo Platinum threatened legal action when the rights to five farms were awarded to Genorah, a major shareholder in Nkwe Platinum.

Anglo Platinum, Nkwe Platinum, Genorah, African Rainbow Minerals, and the Department of Minerals and Energy (DME) met to discuss the situation and have reached an agreement.

According to Mining Weekly, all parties will enter into a commercial negotiation to consider joint exploitation of their respective mineral resources.

Andile Nkhulu, Executive Director of Nkwe Platinum, said: "We are committed to the resource definition and the listing timetable of Genorah and Nkwe. This resolution is a primary asset for Genorah and Nkwe to develop our planned mines, and the economic growth and upliftment that it will provide to the province and the people of Limpopo."

The firm is currently conducting an expedited exploration programme and a bankable feasibility study (BFS) in the Garatouw farm and the Eerste Geluk farm.

It hopes to achieve a combined annual production of one million ounces a year of platinum group metals (pgm).

Sources:

Nkwe says resolution of prospecting rights dispute paves way for stock exchange listing by June, 22/02/08
http://www.miningweekly.co.za/article.php?a_id=127065

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