Katanga Mining Ltd Ord KATFF

RE:Any updates from the meeting?

[bigguy56]

I can only give my impressions, and please understand that I don't have a lot of experience in Mining, although I have a couple of years worth. There was only maybe 20 people there, which was surprising to me, and the meeting was quite subdued and cordial, generally positive. Very well-dressed mature business types. I was quite casually dressed, even wearing running shoes. That is because I am traveling right now.. The only bit of information I picked up that was something I did not know was that the reason why they are able to sell Cobalt now is that they introduced a chemical into the process that allowed them to somewhat solve the problem. I did not pick up any conspiracy theories or conspiracy at all and I think that on this board we do tend to overinflate these thoughts. I don't think at all that they are trying to delay the sale of Cobalt for pricing reasons or that there is any "ruse" at all. They said that Mining is a complex business and that the ore body is complex pretty much, that they will go ahead with the Ion Exchange plant, and that it is at the environmental study/ Permitting stage. The meeting consisted of 3 segments; the formal meeting where they voted in the Directors, an Operations presentation slide show, and Q&A. The whole thing took no more than half an hour. Maybe more.. In the formal meeting the Majority shareholder was there to vote in the Directors recommended. He was obviously from Glencore(I think). The operations slides did not give any financial data and everything was rosy. The Q&A consisted of some questions asked by another gentleman and 1 by me. I asked about the outcome of the audit conducted by the Congolese on the Supply Chain and the source of the uranium., The response was no acknowledgement of the audit and that mining was a complex business and that the uranium was indeed coming from the ore body and that that was common. The other gentleman asked some very good questions about the Ion Exchange Plant and lead times. The suits were quiet. So... I think we just have to wait. No smoking gun here... not much excitement.. some good questions..