RE:RE:RE:RE:RE:RE:Buy opportunity tomorrowIdleweiss,
Thanks for pointing that out. I've been looking through the KAT financial statements, and it could be they are not paying tax while paying off nearly $8 billion CAD in combined debt and liabilities to Glencore. If so, KAT is NOT facing a 60% plus effective tax rate. They would only need to pay the 10% royalty, which is revenue based, with minor deductions for select costs. That could still cut 30% plus of profits, but that is a lot better than 60% plus. Although it is expected cobalt will be declared a strategic metal, subject to a 10% royalty, this has not happened yet.
Albert Mulimbi, chair of Gecamines has made clear he expects miners to renegotiate their agreements this Spring, in the second quarter. I don't know why they would want to and have no idea how this would affect Glencore debt payments. This seems like an effort to ensure the government gets some revenue from Katanga, beyond a 3.5% royalty.