Please pick holes in this logic.
KA sits on the sidelines and does nothing.......
Scenario 1 - If MCT do the same it goes into administration - but does he get his money back as a creditor? Similarly as MCT own a chunk of NME this is probably not in their best interests.
Scenario 2 KA sits on the sidelines. MCT spends money exploring and finds nothing. Both companies go into administration and KA gets a chunk of his money back as a creditor?
Scenario. 3 - KA sits on the sideline. MCT spends money and makes a discovery. KA is initially diluted, but after a major discovery he'll have no problem raising money.
In scenarios 1 and 2 KA does not really lose but the shareholders do.
In scenario 3 everyone wins.
Would be interested to hear your views on this. If it's right, I can see why he's not doing anything. But I'm probably missing something!!!
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