While everyone is high fiving the result maybe we should consider how lucky we got.
It is clear from the reading the court result that KDR management and board would have sold the rights to MZN if it had not been for Simon Tritton.
Now I have no idea what he said to Donohue but I am greatfull.
However it reflects very poorly on Donohue himself as his judgement was very poor.
When the guy next door knocks on your door as says I want to buy your house in a hurray surely you would wonder why. But apparently Donohue does not. He precedes down the path to making a deal and only after his conversation with Simon Tritton does he actually get his geologist to take a look ay the Mt Holland Ground.
Surely the first thing you do in any deal is to at least understand what you are selling. If you dont do this very basic thing how can you even know that the selling price is fair. In this case we would have sold for a fraction of its value.
While I am relieved this case is over it reflects very poorly on KDR management.
KDR Price at posting:
62.0¢ Sentiment: Buy Disclosure: Held
