Ann: Deed of Termination McVerde Consultancy Agre, page-2

re: Ann: Deed of Termination McVerde Consulta... I hold KMC, it is a dog, it is a flea bitten dog of a penny dreadful.
But i admit to averaging down over last few days.

I previously stated that i had written off my investment. But this announ gave me some hope. The McVerde consultation agreement was a poison pill that ARD signed up for when it bought Bullant from Barrick. When KMC (USN) bought Bullant from ARD, embedded in the deal was the McVerde $20k pm fee and a 10% net profit to Mcverde.

This was one of the significant reasons that KMC failed.and it was totally undisclosed to shareholders when the purchase was made..

New directors, recapitalisation and now this significant lead weight gone, i think there is every chance we will see some positive announcements for KMC in the future.

IMO if you have some punting money , it worth a go.


I notice that the payout fee was "all the component crusher and mill parts " that KMC purchased in its ramp up.