Katanga Mining Ltd Ord KATFF

RE:RE:RE:RE:RE:After completion of the rights offer,GLEN tobuy out shares?

[topdop]

@Cider6000 your math is fundamentally incorrect.

Again, for those that care to read the Preliminary Prospectus, the discount will be 25% to a five day vwap; those days being the 5 trading days immediately prior to publishing the FINAL prospectus.

Expect that FINAL to come in another 2 weeks or so.

Our SP has firmed in the last 2 days. By my calcs, an issue price might be:

18.5c 25% = Cad$0.1375

And that means 55.8BB new shares:

($7.672BB / 13.75c)

Which means the Rights Ratio goes to 29.3 to 1 from the 15 to 1 published in the Prelim Prospectus for illustrative purposes.

(55.8BB new shares divided by the current Treasury of 1.907380413BB shares = 29.3)

Thus the "dilution" you allude to is likely to be fully 100% less than you indicate. I suggest everyone reads the updated 43.101 from the Preliminary Prospectus.

After the RO, our KAT Mining Assets may have an EV of nearly $7BB and with very good gearing, very efficient C1 Total Op Costs, larger capacity production Cu & Co plus strengthened commodity prices, we will be in terrific shape.

Post RO, GLEN may very well go to 99.3% ownership, so that last 0.7% would be worth $50MM and shared between 404MM shares on an unconsolidated basis but measured before the much better results that are expected to come in the next 36 months. Aan before any takeover premium.

So I do agree it's a sh*tty picture, but I still believe we may get back to 70c a share on an unconsolidated basis AFTER 36 months AND if GLEN leaves us alone...

These are my views only. Thanks for reading.