Bullboard - Stock Discussion Forum Katanga Mining Ltd Ord KATFF

Metals & Mining Industrial Metals & Minerals

Katanga Mining Ltd, through its subsidiaries, is engaged in copper and cobalt production activities in the Democratic Republic of Congo (DRC). Specifically, the company explores and develops properties with potential copper and cobalt yields operate mining and processing facilities that produce copper and cobalt and holds a portfolio of other mines that may be developed in the future.

Add To Watchlist

OTCPK:KATFF - Post Discussion

Katanga Mining Ltd Ord > whats the reason for the big selloff today?

View:

Post by Brandonrr on Nov 07, 2019 10:00am

whats the reason for the big selloff today?

I wish I had of sold ths one long ago....no hope in site here

137

Comment

Comment by Lech1988 on Nov 07, 2019 10:05am

an enormous (15 for 1) rights offering to pay off the debt...

Comment

Comment by Brandonrr on Nov 07, 2019 10:07am

how do you know this?

Comment

Comment by InternalAudit68 on Nov 07, 2019 10:11am

This post has been removed in accordance with Community Policy

Comment by Brandonrr on Nov 07, 2019 10:19am

The new release in not even on the website...i had to google it WTF

Comment

Comment by Lech1988 on Nov 07, 2019 10:25am

100% correct. TBH I am shocked the price has not collapsed though. Also remember they are trying to raise a certain amount of money to pay off the debt. If the price tanks the 15:1 rights offering ratio could get much much worse. I dont expect many minority shareholders can afford to take this up.

143

Comment

Comment by Brandonrr on Nov 07, 2019 10:29am

I said f%ck it im done with this one....Im out... luckly my SCR and MAXR have more than doubled this year so I can afford to take a loss on this one and still have a decent year....If this settles someone where and things turnaround on the cobalt price I may jump back in this space

105

Comment

Comment by Lech1988 on Nov 07, 2019 10:40am

You can clearly tell Glencore is fed up with with his company. The Special Committee believes that the recapitalization of the Company is in the best interest of the Company and its minority shareholders because it: (i) provides the minority shareholders with the right, but not the obligation, to participate pro-rata in the recapitalization, (ii) is merely an acceleration of what would ...more

135

Comment

Comment by stockhunter20001 on Nov 07, 2019 11:07am

check who is buying at those low prices? The volume is close to 1M. Topdop, any input?

Comment

Comment by InternalAudit68 on Nov 07, 2019 11:11am

This post has been removed in accordance with Community Policy

Comment by Lech1988 on Nov 07, 2019 11:21am

Personally I am not exactly sure how this is going to work, The share price is tanking so much I don't really see how a rights issue is even viable....

Comment