the doca sounds appealing but the fact is that shareholders have nothing to do with it.
KM have indicated that they have recieved non binding offers for Moly and are moving to the next stage.
I think the dual path of sale and listing option is aimed at maximising bids from potential suitors.
Not much news on the rest of Arrium sale. A few tyre kickers.
So with the sale of moly they might have to put together a doca for the rest, if no-one buys. I think this is why they are putting the doca team together. Not to hatch a plan to save the business as is.
KM still want to sell this and be done with it. Problem is who and for how much. They have debts to clear and shareholders are not even a blip on their radar
ARI Price at posting:
2.2¢ Sentiment: None Disclosure: Held
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