OTCPK:KATFF - Post by User
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Sogosohubidu201on Feb 20, 2020 3:34pm
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Glencore conference call - KAT to sell >29K t of cobalt 2020
Glencore conference call - KAT to sell >29K t of cobalt 2020https://www.solresearch.scotiabank.com/Fusion/Equities?symbol=KAT®ion=CA
Glencore CFO said during the conference call that KAT will sell more cobalt than it would produce this year. KAT is projected to produce 29k tonnes of cobalt. So KAT will sell more than 29,000 tonnes of cobalt this year after its two dryers back to operational in Q2 this year. In 2019 KAT only sold 4,257 tonnes of cobalt although it produced 17,054 tonnes of cobalt because of mainly dryer issues. With extra >25k tonnes of cobalt sale, this will bring in >$900 millions USD extra at current cobalt price plus interest saving of $360 millions USD and cost saving from acid plant commission in Q2, this year should be quite profitable, particularly during the 2nd half of this year. I expect that share price will rise to $0.3-0.4 toward the end of this year or early next year.