Ann: Chairman's and CEO/MD's Addresses to Shareholders, page-14

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druiner

2,444 Posts.

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09/05/19

15:04

Post #: 38489794
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Originally posted by DaisyA ↑

This is all as expected. No other party will show their hand yet, it may be months yet until they do. Also it was as I had hoped, Donaghue did not say that the BOD recommends the offer, he just said that it was compelling enough because of the funding hurdles in front of KDR to put to the shareholders, and he was right to do that. To brush WES aside would be to do what Lynas did and KDR wanted to be "in play". To keep WES on the line they had to offer them an exclusivity DD period and that is also fair and reasonable. What Donaghue did do in his presentation is to highlight KDR's recent achievements and opportunities right at the end of his presentation. His last two points are significant and worth repeating for those that did not see it:

"- We completed a regional soil sampling programme at Mt Holland which defined several large geochemical targets comparable in scale to Earl Grey. This exploration activity further supported our view of the prospectivity of the Forrestania greenstone belt and continued to underpin our belief that the Mt Holland Lithium Project will be a long-life, low cost project with potential for continued expansion.
- We also announced a strategic review of our 100% owned gold and base metals rights to enable us to better focus on the Mt Holland Lithium Project."

In other words I believe this was code for: and so I (Donaghue and the BOD) think we could be worth much more than $1.90 but let's see what the market and shareholders think.

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, "Donaghue did not say that the BOD recommends the offer".......really......

"so when in the negotiations a proposal at this value was reached, we supported it and intend to put it to you the shareholders"
"supported it" can only be interpreted one way....they recommend it !

Look, chances are if you are on the board ,you probably have a stack of shares given to you or bought very cheap so you would be happy with this price as you will make an absolute killing and walk away.
It is delusional to think that the BOD cares about you, if they did they would not be supporting this offer which is paltry at best.

cheers to all holders

KDR Price at posting: $1.91 Sentiment: Buy Disclosure: Held
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