KDR 0.00% $1.90 kidman resources limited

Time to buy up, page-71

  1. 6,249 Posts.
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    I'm near dinner time but basicall:

    DOnaldson claimed a threat citing the mail that said "UNLESS we get a response, we WILL be making a release. This was issued on or near the weekend before the threatened Monday release. The Chairman was on a flight back from London and Justice Martin noted, "lucky he wasn't flying to Perth.." There was some mention of MZN threatening about the deal being a 50-50 "no lose" for them but a 50% lose for KDR would cost them 100%. That went beyond greenmailing IMHO. Donaldson said that after a failed besmirch job with the FinRev (an excellent paper btw) they went with threatened legal action as a "commercial threat". Justice Martin seemed to agree by his manner.

    He noted the MZN cap raising was done without any mention of a deal. But the KDR cap raise did mention Lithium however MZN never objected. Treacy sent a text on 12 July congratulating KDR on their Li results saying "keep it up". But never mentioned any deal.

    Then it was was Bennett's (MZN rep) turn. It was interminable. He went on and on and at some point I had to stop taking notes. I did fall asleep at one point. Highlights included him citing a case last week from NSW. Justice Martin said something like "That's great for NSW... but it won't make it across the Nullabor!" Much mirth was had. Bennett accused Donaldson (KDR rep.) of "going off the reservation". He argued that KDR made claims about events that they had refused to x examine MZN witnesses on and so it didn't apply. This was pea soup IMHO.

    The "jilted bride" analogy came up. I'm pretty sure this will be cited in future law cases. It was just too colourful not to be of use. Bennett made a good point that a jilted bride still had a promise that was never kept. Donaldson interjected "But they never married!"

    People can ask me questions, that might be easier.

    Dinner!
 
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