KDR - Kidman Resources

[Boggo]

Follow on from #39 above, nearly there pixel...

 

[Logique]

Bring it on!. I hold.
Thanks Boggo.

 

[Working16]

Kidman Resources Limited (KDR) has assembled a portfolio of tenements which, subject to confirmation of initial results, are considered to have strong potential for Copper, Gold and Rare Earth Elements.

The Company's strategy will focus on the acquisition and exploration of a portfolio of tenements that have strong indications of prospectivity, with major untested anomalies, but which are relatively under–explored. The Company's primary focus to date has been on major structures within the well known Copper/Gold mineralisation belts in Central New South Wales. This region is host to a number of major successful mining operations, including Mineral Hill, Northparkes, Tottenham and the Peak Mine.

The recent global financial crisis presented the Company with an opportunity to add attractive tenements to its portfolio in New South Wales as well as the Arthur Popes Copper/Rare Earth exploration prospect at Hale River in the Northern Territory.

http://www.kidmanresources.com.au

KDR been through the wringer the past few yrs, been as high as 2.15 or so, it has corrected to 1.80, an absolute bargain especially for LT holders. JV with international SQM recently. IMO plenty of upside. DYOR.

 

[greggles]

It's been a been a rough few months for Kidman Resources. On 24 May its share price reached a high of $2.48 before proceeding to decline over the next three and a half months to a low of 92c.

However, 92c is where it hit bottom on 7 September and it has recovered over the last week to close at $1.265 today, up 11.45% on yesterday's close.

I haven't been following KDR very closely and was hoping someone who has can shed some light on its share price decline and prospects from here.

 

[greggles]

Some bad news for Kidman Resources today regarding the Mt. Holland hard-rock lithium project has sent its share price down 21c to $1.055, a decline of 16.60%.

https://www.smh.com.au/business/com...eate-headaches-for-tesla-20180914-p503pi.html

 

[greggles]

Kidman Resources up 7.1% to $1.435 today after announcing that it has executed a deed of settlement with the objectors to the applications for exemption from minimum expenditure obligations on the Mt Holland tenements, clearing the way for the Covalent Lithium joint venture to progress the project.

KDR heading towards resistance at $1.60. A break above that level would be a bullish move and possibly an entry point for those interested in jumping on board.

 

[greggles]

Wesfarmers to acquire Kidman Resources for $1.90 a share.

2May2019
Proposal to acquire Kidman Resources

Wesfarmers (ASX:WES) today announced that it has entered into a Process and Exclusivity Deed with Kidman Resources (ASX:KDR, Kidman) in relation to its proposal to acquire 100 per cent of the outstanding shares in Kidman for $1.90 cash per share (the Proposal) by way of a scheme of arrangement (Proposed Scheme). The price represents a premium of 47.3 per cent to the last closing price on 1 May 2019 and 44.4 per cent to the 60-day volume weighted average price and corresponds to a transaction value of approximately $776 million.

Kidman's major asset is a 50 per cent interest in the Mt Holland lithium project based in Western Australia, which it owns jointly with Sociedad Quimica y Minera de Chile S.A. (SQM), one of the world's largest producers and marketers of lithium products. The project includes the construction of a mine and co-located concentrator at Mt Holland, and alithium hydroxide refinery in Kwinana. Lithium hydroxide is key to the electric vehicle value chain.

Kidman Board, major shareholders and joint venture partner support

The Kidman Board has stated that it supports the Proposal. Upon executing transaction documentation on commercial terms consistent with the Proposal, the Kidman Board intends to recommend that shareholders vote in favour of the Proposed Scheme (subject to there being no superior proposal and the independent expert concluding that the scheme is in the best interests of Kidman shareholders)

Is $1.90 fair value for KDR? I suppose it must be given that the takeover has the support of the KDR board and KDR's major shareholders.

 

[Ann]

KDR up 42.25% so far today....

Wesfarmers lines up Kidman Resources as latest takeover target

Kidman Resources (ASX: KDR) has become Wesfarmers’ (ASX: WES) latest takeover target after the conglomerate lobbed a $776 million bid for the advanced lithium explorer.


Today’s bid come less than two months after Wesfarmers made a $1.5 billion unsolicited grab for rare earths miner Lynas Corporation (ASX: LYC).


The offer was followed with a statement from Lynas’ board claiming it “would not engage with Wesfarmers on the terms outlined in the proposal” and advising shareholders there was no action to be taken regarding the unsolicited proposal. More...

 

[System]

On September 24th, 2019, Kidman Resources Limited (KDR) was removed from the ASX's Official List in accordance with Listing Rule 17.11, following implementation of the scheme of arrangement between KDR and its shareholders in connection with the acquisition of all the issued capital in KDR by Wesfarmers Lithium Pty Ltd, a wholly-owned subsidiary of Wesfarmers Limited.