Katanga Mining Ltd Ord KATFF

RE:RE:RE:RE:Glencore Onwership of KAT shares..Latest

[stockhunter20001]

Topdop,

I am not a mining expert like you, but I have been reading Glencore annual report yesterday, and this is what I found, please correct me if I am wrong.

-June 2018, KCC swaped the debt to Katanga to equity, and to make sure Gcamines/DRC not to get diluted (per contract), DRC recieved $1.4 billion as KCC equity as a "gift", so Gcamines/DRC equity in KCC stayed at 25%. Which means Katanga gave up on the KCC debt for free.

-Glencore was worried with the increasing interest payments on KAT, so  KAT will not be able to pay back the debt to Glencore in 2021, so they came up with this unknown proposal to KAT. Which makes me feel Glencore considers KAT as a cashcow for interest, nothing more.


-Do you really think Glencore will care of KAT is profitable, or they want to keep it cash negative to keep their Canadian Coropate tax =0 and continue to siphon profits from KAT through debt interests.

Is there any monitor by the OSC on the indepedent directors that KAT will choose to discuss Glencore proposal, or it is all just a game and it will always be baised to Glencore? do we have any rights to object the proposal if both parties bidder and the buyer is Glencore?