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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.


OTCPK:KATFF - Post by User

Katanga Mining Ltd Ord
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Post by Sogosohubidu201on Jun 21, 2018 11:31am
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Post# 28205733

No dilution for KAT Shareholders from Gecamines Settlement

No dilution for KAT Shareholders from Gecamines Settlement

 

ca.finance.yahoo.com/...
21 Jun 2018, 02:57 AMReply1Like
 
Nelson Tang
Comments (59) |+ Follow
No, there is not any dilution for Katanga Mining shareholders from the settlement deal with Gecamines.

 

The article is completely incorrect. Katanga Mining is not swimming with $9.2 billion debt. The $9.2 billion debt is the total debt KCC owed to Katanga Mining before the settlement with Gecamines. $5.6 billions out of total $9.2 billions were forgiven by Katanga/Glencore per the settlement deal between Katanga/Glencore and Gecamines. After the settlement, KCC now owes about $3.6 billions to Katanga Mining.

 

Katanga Mining owes $6.07 billions total debt to Glencore, of which $3.77 billions are loan debt now carrying 7% interest after settlement and $2.3 billions customer prepayments carrying much lower interest.

 

The author of the article is confused and does not know the difference between KCC and KAT.

 

ca.finance.yahoo.com/...
 
 
No, there is not any dilution for Katanga Mining shareholders from the settlement deal with Gecamines.

 

The article above is completely incorrect. Katanga Mining is not swimming with $9.2 billion debt. The $9.2 billion debt is the total debt KCC owed to Katanga Mining before the settlement with Gecamines. $5.6 billions out of total $9.2 billions were forgiven by Katanga/Glencore per the settlement deal between Katanga/Glencore and Gecamines. After the settlement, KCC now owes about $3.6 billions to Katanga Mining.

 

Katanga Mining owes $6.07 billions total debt to Glencore, of which $3.77 billions are loan debt now carrying 7% interest after settlement and $2.3 billions customer prepayments carrying much lower interest.

 

The author of the article is confused and does not know the difference between KCC and KAT.

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