Not sure how more emphatic the KDR BoD and management can publicly release time and time again that there will be no deal with a spurious desperate jilted claim by MZN. Another reminder below for some, found this paragraph in the recently released Kidman Half Yearly Report (page 12, Corporate):
“During the December quarter Marindi Metals Ltd (ASX: MZN) lodged a writ in the Supreme Court of WA claiming that a binding agreement had been reached via phone calls and emails back in April 2016 for MZN to acquire “Pegmatite Rights” from the company. The company vigorously denies that any agreement was entered into and has had the matter set down for trial at the earliest opportunity. The company considers Marindi’s actions to be highly opportunistic and will defend the matter at the trial which is set down to be heard from 29 May 2017.” KDR, 16th March 2017.
The only thing that has changed since the 16th November 2016 is that KDR BoD’s have gone from saying that Marindi’s actions are “opportunistic” to “highly opportunistic”.
No mention of the mediation dates in that paragraph also, May 29 not far away, sooner now than later. Exiting times ahead for KDR shareholders only.
KDR Price at posting:
45.0¢ Sentiment: Buy Disclosure: Held
