I find this court case amusing and watch with interest. So MZN...

I find this court case amusing and watch with interest. So MZN over an email and talk believe they have a contract to acquire the Li rights .... only management dwelled on this for 4 months before realising .... and then just before resource was being announced and millions spent drilling it struck them that hey we own the lithium rights ...... hilarious

what I find even more absurd is the wording on the original claim which effectively says hey we think we own your lithium rights ... now lets move to a HOA... hold on isn't a HOA still not binding. So based on non binding email and talk we own your rights so lets now progress to a HOA which still isn't binding

Unless there is some smoking gun, which seems VERY unlikely as there was never even a HOA this smells opportunistic.

It could be a smart play from MZN management, some call it opportunistic, one could call it extortion. The timing of the claim was very strategic at a time that KDR was adding value crystalising their investment through JORC resource and metallurgy.

From a bystander point of view looks like MZN management are trying it on and believe that they would get some sort of settlement with this course of action. Probably thinking this could be a means of topping up cash and getting options in the money brining in an additional $4 m cash which would have been a good outcome.

However now its looking pear shaped. It would be fair to say this wont be resolved in the courts in December, KDR will not deal with them and with no results due options look dusted.

Where the worry comes is if the court case is heard and lost KDR should and probably will counter claim for costs (lest assume) minimum $1m (lawyers aren't cheap) the cash balance is pretty much gone. Ohh wait they still have to pay for their lawyers the ROX claim and drilling.

Furthermore if there is no smoking gun and this is a baseless claim I am sure this will be investigated by ASIC/ASX and wouldn't be surprised to see MZN and KDR shareholders make claims against management which means more costs ..........

If there isn't a smoking gun (I just cant see it given there wasn't even a HoA) this could get ugly and I think MZN management should be held accountable as this type of action should be stomped out by the regulatory bodies.

We invest in a exploration company to explore and add value not to waste investor money on lawyers and look to capitalise on the fortunes of other companies.

Watching with interest here