Katanga Mining Ltd Ord KATFF

RE:Waiting for another slash

[springinhetveld]

renoldman wrote: Watching for $0.60s and $0.70s

Not enough big buyers to keep this in the $0.90s and higher.

Lots of selling yesterday and the buyers couldn't push it back over $1.00

Retailers are buying and hoping as institutions reduce exposure.

Might be a decent opportunity for a quick trade. But holding through the court date is kind of risky.

I don't see this bouncing over $1.20 until a decision is rendered.

Good Luck to those who decide holding is worth the risk. Might be worth holding if it's favourable .... but not worth the risk. It's almost never worth holding through events. Maybe 10% of the good outcomes .... will reward you right away. Most of the time, no, it would be better to take action afterwards.

I am not saying this is worth $0.00 today.

I am just saying the risk taken will not be compensated for. Better to take action once things are known. That's what the institutions will do.

In the last 3 days about 30m shares were traded with a VWAP of around $0.95. That is clearly well beyond retail funds.. 

Of course this stock is now a "traders paradise" but even they do not seem to know which way it will go. Got the impression that there is at least one big seller (was dumping 200-300k shares every 20 minutes the first couple of hours yesterday) but all these shares were bought as well. So there should be a SEDAR filing out soon of a major shareholder selling some stock. And that can only be Blackrock (or Glencore itself?). Or someone shorting like crazy, but where did he get the stocks from in that case? 

Anyway there is just way too much value in the Katanga cobalt and copper mine for Glencore to give this away to DRC. Will be good for DRC and KCC. What it will do to KAT is less clear but on the LT this is gonna be one hell of the stock!