Kidman Resources (KDR) wins case against MZN - what next will be most interesting
Kidman Resources limited (KDR) has successfully defended the case brought by Marindi Metals (MZN), which claimed that KDR agreed to sell its lithium assets in early 2016, for less than ~$300k in cash and shares. The court case was closely watched, and no smoking gun was produced. The court case has impacted KDR's ability to seriously progress the Mt Holland project, which stands out as one of the best undeveloped hard rock Li deposits globally, in terms of size, grade, metallurgy and location. And whilst the win is pleasing for KDR shareholders, attention should now turn to the options for rapidly progressing the project. With less than A$6m in cash, and a globally significant asset to progress, the company either considers raising capital, given the share price recovery, or looks to make a deal to finance the project. Two very different outcomes for the share price. ARTICLE - (VIEW LINK)
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Tom is a Founder and Head of Wealth Management. For the past 10 years, he has been running the Wentworth Model Portfolios, focusing on macroeconomics and tactical equity positioning. These portfolios were initially created as a solution for "core...