KCN 0.00% 25.0¢ kingsgate consolidated limited.

If a deal is cut to re-open Chatree then I'll be cashing in my...

  1. 1,021 Posts.
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    If a deal is cut to re-open Chatree then I'll be cashing in my chips on good-news price spike. Most of my buying was done below 20c while the market was getting impatient..so profit harvesting will be a just dessert. Chan-ocha took the leadership at gunpoint then rigged the national election which began with a shifty one-sided (competition banned) referendum. He cannot be trusted and partnering with that gangster is unthinkable.

    The only way forward..ongoing for us..is to cut a deal that involves us taking half a billion $ (pre arbitration) cash and having Akara nationalized, where Kingsgate provides paid consulting services while also receiving an ongoing royalty from future Chatree earnings. I want no further responsibility for the Thai operation..we're already owed for years of care & maintenance. In the absence of that..or a straight cash-settlement where we get to move our assets/equipment to Chile, then we only have 5 months to wait for November arbitration. This is a one-sided case and the inevitable award would be nearer to $1 billion than 0.5 billion.

    Like the Zurich Insurance case, we are the one in the position of strength..Zurich dragged-it-out because they thought we might run out of cash ahead of the hearing. When RSK was on the cusp of signing a deal with a toe-cutting litigation funder Zurich saw the light and joined our team, a few months before justice was to be served upon them. Chan-ocha is in that same boat now that Zurich was in..The big difference here is that there's no prospect of KCN running out of funds..no prospect of his adversary bleeding to death. Just a date in Hong Kong bearing down on him and all the international embarrassment that'll come with it..a nail in the coffin of any future re-election hopes and shame upon his family. Aside from our cash war-chest and backing of multi-billion insurance giant's legal team we also still have the option of signing up with a litigation funder..one who would go for the jugular of an award well north of $1 billion. Remember that's just the amount we've invested in the future of Chatree. Loss of earnings, care & maintenance + legal costs are on top of that.

    There's nowhere left for Chan-ocha to hide. He's sent low level bureaucrats in, to negotiate with us, to date..suits with zero power to make a decision. Time is running out for him to finally get serious & compensate for his mistake. Like I've said dozens of times before, i'd rather be in our shoes than his. Looking forward to justice..either a month from now by settlement or a fatter award in November. I can wait either way
 
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