Looks to me like MZN's director Joe Treacy has a history of trying to take from his neighbors!
Treacy was executive director at Kagara ltd (once a billion dollar company now delisted)
In October 2010 Kagara made a bid to acquire Copper Strike, a neighboring company in north Queensland, for about A$14.2 million. The main asset of Copper Strike is the Einasleigh project in Queensland, which is south west of Kagara's copper and polymetallic processing facilities at Mount Garnet and north west of its Thalanga polymetallic processing facility. Einasleigh has copper resources of about 16.1 million tonnes. Copper Strike described the bid as "highly opportunistic" in a letter to shareholders. Kagara responded by calling into question Copper Strike's ability to develop the asset on their own.
I found it interesting that there are 3 surnames from Kagara ltd directors and executive that are on MZN's board.
Kagara ltd:
MZN:
Can anyone confirm are John Hutton and Ross Hutton related? Also are Jeremy Robinson and Kim Robinson related?
I can't see any asx listed company doing any business with Joe Treacy ever again after this fiasco! He should retire and write a book about how to lose friends and P%$& people off!
KDR Price at posting:
40.0¢ Sentiment: Buy Disclosure: Held
