Not sure quite how to react to Harmanis' exit after a decade backing KIN. Like me, he had been here from seed, and came at least 3 years before the Cardinia project was even acquired from NAV.
Always appreciated having Kerry at our back, with his boot firmly planted up management's backside to maintain focus.
Surprised he went for such a low-ball figure - though I guess we'd all be tempted by a quick clean and jerk (weightlifting expression ...please! ) for volume at such a premium on any day.
It's interesting that while Harmanis Holdings accounted for 146,275,804 of the shares crossed to SBM on Wednesday morning, there were 158,125,983 shares in total in that transaction (162,738,132 overall for the day).
So either Kerry had a further 12M shares stashed somewhere in his back pocket - not unlikely, I guess - or someone else piggybacked on the trade.
Anyway, it's all academic now. We have a new big-block shareholder on the registry, and it's obviously sniffing cheap ounces.
Let's hope KIN management is up to the job of securing proper shareholder value for the remaining 80% of the Company.
KIN Price at posting:
14.5¢ Sentiment: Buy Disclosure: Held
) for volume at such a premium on any day.
