PERTH (miningweekly.com) − Emerging platinum group metals (PGMs) exploration and development company Nkwe Platinum resumed share trading on the ASX on Thursday after it regained its 64% interest rights to the farm Eerste Geluk in South Africa.

This comes after the Department of Mineral Resources (DMR) awarded the Eerste Geluk rights to the Roka Phasa community, with Nkwe major shareholder Genorah Resources as the economic partner.

Roka Phasa claimed to hold the rightful title to the farm, but last year rival community Bengwenyama also claimed ownership and brought an application against Genorah over a lack of consultation with the community.

The South African Constitutional Court then stripped Genorah of prospecting rights on Eerste Geluk and Nooitverwacht, which form part of the Tubatse project.

Nkwe said of the two farms set aside in the original ruling, Eerste Geluk was the primary property, having the most accessible PGMs resources at the shallowest depth, and around 80% of the Joint-Ore Reserves Committee-compliant resources.

“Nkwe is pleased that the DMR decision has been made and that all parties concerned can now move forward with certainty,” said MD Maredi Mphahlele.

He added that the formal awarding of the decision in respect to the Nooitverwacht farm was still outstanding, however, the company expected an outcome which would provide a joint ownership scenario, with Nkwe’s partners having a 50% interest.

The Nooitverwacht farm has not been factored into any of Nkwe’s current or future mine development plans, and so far only six intersected holes have been drilled on the farm for an initial general geological understanding.

Mphahlele said the current delineated resources on the Nooitverwacht farm would represent only 7% of the total resource held by Nkwe prior to the Constitutional Court’s decision.

He added that Nkwe was currently evaluating how the Nooitverwacht farm would integrate into future development plans.

Nkwe voluntarily suspended its share trading in December, after the Constitutional Court ruling.

Shares traded at 36c a share on Thursday in Australia, compared with 45c a share on December 7.

 

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