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Court summary - can someone provide, page-374

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Plext

10,548 Posts.

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31/05/17

21:05

Post #: 25026615
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Originally posted by Un1qu3Nam3 ↑

So I pick up as Donahue was still being x examined.Bennet asked if Don was allowed to incur expenses without board approval. Don said yes but implied these were just for minor items. Don replied "I can't recall" a few more times. Bennet made much of KDR's focus on gold over Lithium. Platypus Minerals, Mineral Resources and McCarthur Minerals were brought up. Not sure of the context.

Don disagreed that he had no knowledge of Li on the site - LiveEagle7's anecdote covered that. There was a big display on the site office wall displaying the pegmatite resource.

7 Apr mail from Treacy wasn't opened but sent straight through to Ms. Higgins (company sec.?). She figures later as she queries the need to finalise definitions in the contract.

Discussion of KDR being $5.8M in the hole and a rights issue only raising $5M. Treacy's bid wasn't seen as enough to affect cash flow. That just seemed to end with no real conclusion. Benet was just accumulating responses to use in his closing arguments.

Next on the podium was the Chairman P.R. Lester. Dignified, "Grand Old Man" thing going. He could model for a ship's prow any day. He lasted about 4 questions before Bennett threw in the towel. Real sudden. Lester had an email exchange noting the proposal was like beer money but couldn't recall the context.. The killer was when Bennett asked him when Lester knew about the SMS text messages and he replied "2 days ago". That ended that.

I have pages of notes from hereon in on DOnaldson's one by one concerns about MZN's case- too much to write out but basically Donaldson stepped up to give his summary of issues (not sure what part of the process that is). He just sledged MZN with about 20 points finally finishing with something like "I'm not sure if it was chivalry or boredom.. but I gave up listing points by about para. 142.."

Definitions were called into question. He said that an agreement couldn't be decided so the lawyers were called in... and an agreement STILL couldn't be agreed. So...

He sledged the terminology used by MZN, ie.. "Proposed transaction", "subject to agreement", etc.
Miss Higgins' queries about definitions were cited.

Then the Justice started chiming in and agreeing with Donaldson saying an agreement to agree is not an agreement and that when HE went to law school, there had to be a contract. Then the Justice himself raised the point by so many on here that MZN certainly didn't appear as a jilted bride after April by leaving the issue so long before complaining. That was the killer. Justice Martin and KDR were all having a laugh-in together about jilted brides or grooms while poor old Bennett sat slumped in his corner...

It's always a bad sign for the plaintiff when the Justice is making the defendants points for him and Justice Martin proceded to do so enthusiastically in spades. He even mentioned that MZN's phrase "the only area of concern" was itself a concern.

Justice Martin then wrapped up the day saying he'd be interested to know about this continuous disclosure requirement thing with the ASX... TOMORROW! I couldn't see Bennett's face but I swear he slumped an inch hahahaa.. Just as mentioned here on HC many times. What happened to the continual disclosure.

Body language told a story. MZN Chairman fretted a lot (I was right behind him and Treacy). KDR execs looked like they were in a boring board meeting and the KDR lawyer Donaldson was like a Jack Russell with a bouncy rubber ball. His no.2 (never leasrned his name) also played his role. Smooth, confident. The money spoke today. I wouldn't go up against KDR's legal team without medieval weapons.

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Wow great read, no doubt your excellent recollection had impetus on today's range .

This is what HC is about --- sharing .

Thanks and golf clap to you !

Last edited by Plext: 31/05/17

KDR Price at posting: 59.5¢ Sentiment: None Disclosure: Not Held
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