Its been a long running psyop designed to extract stock from gullible and impressionable retail investors. I first encountered them in early 2023 when they began front running my fortnightly buy orders with HFT Maintaining a sizeable short position and inducing a tag team of HC posters to spread doom and gloom formed part of the plan I reckon they've now amassed the 55M required to mount a formal offer @100K per trading day
Who could it be? Probably a Thai oligarch or consortium They would have the inside running on the Tafta negotiations and be in a position to keep extending the deadline thus buying time to accumulate the 20% stake. They would also be aware that management would have to play down the financials to secure a better Tafta outcome making accumulation easier by inducing small shareholders to turn against management.
How might it play out? In my scenario the Tafta settlement announcement is immediately followed by the takeover offer at a set price prearranged with KCN management. Assuming a compensation equivalent of $750M that puts the takeover price @$5. Any royalty relief, exploration licences is overwhelmed by the jingoistic hoopla of the Thais buying back the farm from those farangs. Management recommends shareholders accept the offer. Once the dust has settled the Thais quietly offload the mine to Chinese interests at a premium.
Win win - Everyone's a winner Except those poor gullible PATsies
KCN Price at posting:
$1.94 Sentiment: Buy Disclosure: Held
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