Katanga Mining Ltd Ord KATFF

KAT resumed limited Cobalt exports

[stockhunter20001]

https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2653-tsx/kat/60745-katanga-mining-announces-limited-resumption-of-cobalt-exports.html

[Sogosohubidu201]

From Q4 2018 financial report, KAT had expected to sell 12k tonnes of cobalt in 2019, mostly in the last Q of this year. So the news is not surprised. From Q2, we should see good financial improvement with better copper price and sale of cobalt, still a loss, but the loss will be reduced significantly. Q1 will be weak Q. Q4 may reach breakeven. The real turnaround will be from the end of this year

[Sogosohubidu201]

However, continue rising in copper and cobalt price may push KAT share price higher from the current ultralow level through the remaining of this year regardless other things else

[Lech1988]

They really expected to sell 12kt of Cobalt this year?  Wasn't that before the DRC told them to stop building the ION Exchange system?  The updated expected sales were most definitely zero this year. Glencore can drip feed exports from the DRC as needed without having to pay upfront, warehouse, and take the unhedgable price risk for $1b of Cobalt they don't have an end buyer for

[Sogosohubidu201]

Yes, they did (page 32 of Q4 financial report). That was after DRC asked them to suspend the building of Ion Exchange Plant. They expected to sell 12.5% produced cobalt by March 11 when they expected to receive the permits for Ion Exchange Plant. The cobalt sale may be increased to 32.5% by June 30, 2019, and further to 100% by November 1, 2019 when Ion Exchnage Plant wil be fully up and running.