Katanga Mining Ltd Ord KATFF

$5.6 billion debt wipeout

[largeinvest]

At the end of the NR you see the equity ratios will remain the same for all the parties.  So its all debt forgiveness.  "  Book value about $2 now

The proportionate equity positions of Katanga, Gcamines and SIMCO in KCC will therefore remain unchanged by the Settlement Agreement."

"The shareholdings of other 'Category B' shareholders of KCC within the Katanga group will be diluted to nil "

[Joeabe]

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[internalaudit]

yup.  other KCC common shareholders were wiped out, but likely, they aren't many of them anyway, maybe contractors owed that were given equity stake in lieu of what are owing production will be ramping up, KCC is expected to produce 34 000 t of cobalt and 300 000 t of copper in 2019 https://www.miningweekly.com/article/glencores-katanga-resolves-debt-dispute-with-gcamines-2018-06-13

[Joeabe]

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[Joeabe]

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[Millsy11]

"The market should be pleased that the future of one of the company's key growth assets has been secured."