What to do with Chatree?

Let's assume the current Board is retained following 9 January 2018. I know it's a long shot, but let's just assume

What to do with Chatree? The insurance claim is likely to be upheld. I've heard of no reason for it to fail and if there was a chance of failure, Metal Tiger, who are against pursuing the insurance claim (for some bizarre reason!), would have identified it by now. The insurance will also be paid since if you are seen to be unfair in settling an insurance claim, as an insurer you're no longer in business. This is likely to be settled sometime around mid 2018.

Which moves onto claims against the Thai government. This is likely to be a drawn out process, but I'm relieved to hear that about two-thirds of these claims are paid out, at least in part. Again, if there was a deficiency, Metal Tiger , who are against pursuing the TAFTA claim (for some bizarre reason!), would have identified it by now. This makes the odds better than average.

See, Metal Tiger are useful. If there was a reason to reject the insurance claim or TAFTA claim they would have identified it by now. Nothing has come forward, so all good on this front in my mind. I would never have had the resources to investigate this and thank Metal Tiger for proving this service.

So, about US$200 million paid out; some very soon and the rest later. More than enough to develop Neuva Esperanza.

Do you attempt to reopen Chatree? As long as Chadtree remains in Kingsgate ownership, the Thai government would be mad not to pay the reopening costs (on top of the premature closure loss-of-profits). Loss of international reputation, loss of tax revenue and loss of jobs would be much higher than the $200m.

As Kingsgate shareholders, we must do whatever it takes to retain full ownership of Chatree. If so, all will be good in time.

Metal Tiger are also winners as they will get 8.1% of the spoils - even if they want to get 100% and deprive us of any.