Katanga Mining Ltd Ord KATFF

I think it is bad news

[springinhetveld]

Because I found this. Freeying order against KCC by Mr. Gertler.... He wants his money! All 2b$ and a bit more...

https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/GLEN/13622520.html

[tresspaser]

Thanks for the article. Ouch. Things could get very very ugly...

[tresspaser]

Getler is in bed with Kabila, and they are conspiring to bring Glencore down, and reap the profits. This does not look good... The U.S. Treasury said Gertler has used his close relationship with the country’s president, Joseph Kabila, to amass a fortune through corrupt and opaque deals. Between 2010 and 2012 alone, Congo reportedly lost over $1.36 billion in revenues from the underpricing of

[Potash1968]

How many times have I come on here and warned you about NATIONALIZATION. This is Gertler and the DRC seizing the assets.

[Potash1968]

I hope they lift the Halt and you can get out with something. This is brutal. The claim by Gertler is by no coincidence greater then the Market Cap of Katanga and that is how they will claim the assets in a DRC Court settlement.

[Sagewise]

indeed looks bad. but not seeing much reaction in Glencore

[Sagewise]

that would be directed at Glen more than Kat

[Jamesyb]

Sounds like it would play out in English Courts, which is probably good

[topdop]

"The agreement between KCC, Gcamines and AHIL is subject to English Law and the exclusive jurisdiction of the English Courts". 1. DRC has no jurisdiction; & 2. Possibly poses no (additional) fiscal impact to the ops of KCC because these Royalties were agreed a long time ago AND WOULD BE IN THE OPERATING budget. Things only changed after the US sanctioned Dan Gertler, the Individual..

[dodgecity]

Bid @ .91 so not looking good