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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Katanga Mining Ltd Ord > Yikes

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Comment by topdopon Jul 03, 2018 12:18pm

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RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Yikes

@Letch1988

I would go further and say "I dont think you can do business in the natural resources sector in Africa without GLENCORE..."

Like 'em or loathe 'em, they get sh*t done. So I want them on my team. Read these two quotes from today's news feed regarding this latest squabble:

“Given the flow of negative news we’ve had through the course of this year, the knee jerk reaction is worse than it otherwise might have been,” Hunter Hillcoat, an analyst at Investec Securities Ltd., said by phone. “The DOJ fines can be big, but to wipe out 10 percent of the market cap would be bigger than any fine I can recall.” Bloomberg.

"The company's stock dropped as much as 13% in London, wiping more than 5.5 billion pounds ($7.3 billion) off its market value, or about half the $14.8 billion profit Glencore made last year." Mining.com.

So market reaction is simply ridiculous. When all is said and done, GLEN may pay a couple $billion in fines and that will be that. End. Of. Story. And as you can see, they make lots and lots of money...

These are my views only. Thanks for reading.

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