I would hazard a guess that there was a disagreement on the sale of 51% to LTR.
Reckon KE dialogue went something like " Ask for a higher price or lower % or better still delay till results out" . Board overrules KE. KE says "...you've lost half of potential asset and control for a pittance". Assuming LTR finds something big next door then LSA board just given half away for nicks. KE say "Seeya then Ive got bigger fish to fry". broad say OK Bye!
If this is how it went down then I would say the same as KE I think LSA prematurely sold. What harm was there in waiting a few months for the LTR drill assay results along the fence line boarder 1st before striking a deal ... unless LSA did not think there is likely to be a asset found and went for the cash offer. Perhaps LTR have a ace up their sleeve and know more than hey are letting on. ? Time will tell I guess .
The interesting thing here is the register is full if folk who are good mates with KE (his inner circle). Will they stay or go?? Now that KE will not be landing any more new project "whales".
LSA Price at posting:
2.3¢ Sentiment: None Disclosure: Not Held
