lets see if we can make some sense out of the whole KCN/AND...

lets see if we can make some sense out of the whole KCN/AND saga
1.the offer was made in Feb/06
2.it has been going on (like blue hills) for 4.5 months with 5 extensions
3.only achieved some 22% after allowing for some 7% of Thombums interest and therefore only only 15% of genuine AND shareholders took up the offer(the 7% wont be there next time of course)
We can only conclude that the move by KCN was an unmitigated flop because
1.the offer was simply too low
2.the 25% target and not 80% was a mistake(a better offer would have been required to do this)
3.to ignore the CGT issues was another mistake
4.the saga will probably cost Thombum his board position(i am prepared to wager that he will either resign or be voted off)
One plus,is that it has brought to everybodys attention, the highly prospective value of the Cerro Negro resource and as time goes by,KCN will have to pay more for it--cheers