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Bullboard - Stock Discussion Forum Katanga Mining Ltd Ord KATFF

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 Discussion

Katanga Mining Ltd Ord > Dissappointing Results, Technical Breakdown, Bears Out
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Post by mgentili on Apr 03, 2018 8:55am

Dissappointing Results, Technical Breakdown, Bears Out

230.7million net loss in Q4 - very dossappointing. After yesterdays huge dump it makes you wonder if insiders knew about the bad news coming out before hand. This news will only provide more fuel for the bears. Yesterday it broke a bunch of key support levels on the chart at 1.70, 1.68 and 1.61. Also closed below the lower bollinger band which is a sign of a breakdown (opposite to a breakout when closing above upper bollinger) and we closed at the low of the day. All of these signs point to more furthered downside today coming. This reminds me of so many other small cap mining plays that go on a big run, trap alot of investors near the peak and then slowly fade into oblivion over time.
Comment by Shaolong78 on Apr 03, 2018 11:54am
It is currently up 7% to 1.67 after the release of this "terrible result". Perhaps you are missing the positives in the report? If there was fuel for the bears here, they aren't doing a very good job of lighting the fire.