It's obvious what went on, but KordaMentha despite lifting $1 million a week still require more time to determine if any wrong doing by the former Arrium Directors and their adviser UBS, who KM just paid millions in fees as they assisted in off loading Molycop.
A cynic would suggest it may have been the plan of UBS all along, they took a bath with the capital raising at 48 cents but have been sucking cash from the Arrium treasury with full support of Arrium management and KordaMentha ever since.
I'm sure someone is putting the dots together, Bakewell, Plummer, Roberts, Maycock and Smedley are not too keen on commenting while ASIC appear to be compromised if the Ansett administration is anything to go by.
ARI Price at posting:
2.2¢ Sentiment: Hold Disclosure: Held
(20min delay)