RE:Rusty....Actually ,quite amazing you mentioned it.
I did in fact work for Katanga.
We were in care&maintanance at the time. We were in the process of dewatering the bottom of the pit by pumping in stages.
Unfortunately one night the North Wall collapsed burying 7 local workers. We never even found 4 of the bodies, but Glencore just wrote it off and carried on, so yeah, I know all about Glencore.
They shut down when prices were low, spent money to refurbished the mill, when I left we had enough ore stockpiled for 6 months processing and a brand new mill. You really think that they do not know what they are doing or are not ruthless in business dealings including shady accounting practises.
Did well, but sold too early.
Lico is hopelessly out matched here, not even close.
They will do financing and it will be at lower prices. Whatever they can get, they have no options including any fanciful blue sky scenarios. It's that or suspend all operations which means dead money.
Forget about Glencore, management in Switzeland prabably does not even know what a Lico is.
Meanwhile Lico SP is staring down new 52 week lows.