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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.

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Bullboard (OTCPK:KATFF)

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Comment by DasuDasu1on Nov 07, 2019 6:17pm

RE:RE:RE:wow dodged a bullet there....we just collappsed

The entire reason this stock is garbage is from the presence of Glencore. It's no small detail. You'd have to be pretty blind to not see that Glencore has been fleecing retail shareholders of ...more

210

Discussion

Comment by Sogosohubidu201on Nov 07, 2019 5:27pm

RE:RE:RE:RE:The new share offering price may be around 0.264 Cdn

I do not think that will change. It will be manipulation if doing so. Otherwises why not wait for the end of next year to do that when the debts are due? This is the worst possible ...more

265

Discussion

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Comment by Lech1988on Nov 07, 2019 5:12pm

RE:RE:RE:The new share offering price may be around 0.264 Cdn

Its VWAP of last five trading days from the date of filing the final prospectus. This hasn't been done yet, only the preliminary has been filed. so unless we have a miraculous recovery in the ...more

208

Discussion

Post by newdaydawningon Nov 07, 2019 5:11pm

Reverse split seems inevitable

Once the right's offering is completed.

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Comment by Sogosohubidu201on Nov 07, 2019 4:59pm

RE:RE:The new share offering price may be around 0.264 Cdn

Glencore will buy if minority shares do not buy. Total share count will be 30.56 billions. The market cap at the current share price is about $5.8 billions Canadian

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Discussion

Comment by Lech1988on Nov 07, 2019 4:51pm

RE:The new share offering price may be around 0.264 Cdn

Why would anyone buy at that price Sogo? The outstanding shares will be 15x and your have to buy above market? That makes zero sense.

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Discussion

Post by Sogosohubidu201on Nov 07, 2019 3:57pm

The new share offering price may be around 0.264 Cdn

15 x 1.91 = 28.65 billion of new shares to raise 28.65 x 0.264 (75% x 0.352 last 5 trading days prior today) = $7.6 billions Canadian cash.

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Discussion

Comment by Lech1988on Nov 07, 2019 3:43pm

RE:RE:RE:LOL, IT ALREADY HAS

Except it's no longer a 15:1 rights offer. they have to raise a certain amount of money...as the shares tank the ratio becomes insane. Instead of extending the loans Glencore are effectively ...more

204

Discussion

Comment by Brandonrron Nov 07, 2019 3:21pm

RE:RE:LOL, IT ALREADY HAS

it seems like glencore has found a way to bascially own all of the comapny and shareholders will be left with next to nothing

Discussion

Comment by Lech1988on Nov 07, 2019 3:13pm

RE:LOL, IT ALREADY HAS

Yeah this is exactly my point. We know how much they have to raise, if you don't take up the rights offer you will be diluted to zero.

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Discussion

Post by shenty46on Nov 07, 2019 2:29pm

LOL, IT ALREADY HAS

It already has 2 billion outstanding shares, at market capitalization of around 400 million now, so for around 6billion right issue, how many shares will be issued, may be 30 billion outstanding ...more

248

Discussion

Comment by Kidlaw1on Nov 07, 2019 2:24pm

RE:RE:RE:where is SOGO and TOPDOP????

I see your point... but they said that the price of the new shares would be the weighted average of the last 5 days right... so... it wont be dependent on today's price no?

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Discussion

Comment by Brandonrron Nov 07, 2019 2:20pm

RE:RE:RE:RE:where is SOGO and TOPDOP????

true enough...I'm interested to see where this goes and how it works as well...

Discussion

Comment by Lech1988on Nov 07, 2019 2:20pm

RE:RE:where is SOGO and TOPDOP????

By simply announcing this rights issue the shares have tanked. Even the 15:1 ratio that was mentioned in the filing at 25% discount is now no longer sufficient to raise the required funds due to ...more

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Discussion

Comment by Kidlaw1on Nov 07, 2019 2:16pm

RE:RE:RE:where is SOGO and TOPDOP????

Also topdop doesnt normally... respond right away to big news like this... he normally responds later than everyone else. His due diligence is way more complete then anyone else on the board.

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