Katanga Mining Ltd Ord KATFF

Production report out not great

[bigguy56]

the production report is out for w2. Nothing to give any lift to the stock. in fact expect a drop tomorrow. Also talk if equipment problems... that is somewhat amateurish in my view. The cobalt dryer.. does not work.

[MalayalamFTW]

The only good thing about this report was the percentage increase of exportable cobalt. Now the whole cobalt processing is paralyzed by cobalt dryer. Nothing has tested my patience more than KAT. 

[Lech1988]

Also ion exchange circuit hasn’t even started construction yet...that won’t be steady for a year.  As expected in this oversupplied market Glencore in zero rush to get this done. 

[Kidlaw1]

1.  Glencore is no longer in a hurry to start cobalt production.  Why sell your finite product at a lower price now, when you can sell it at a higher price later?  Investors will hate that now, but down the road hopefully it should reflect in the income sheet closer to the supply crunch.     2.  The technical issues where the cobalt dryers malfunctioned in my

[bigguy56]

Blaming equipment failure for production problems is something that scam companies do to keep unwitting investors interested and hopeful. I am not saying that KAT is a scam, but this is amateurish.

[Lech1988]

I think shareholders and analysts are just about fed up with this now  Glencore is largely in charge of the day to day running of KAT and Ivan absolutely has to turn their Africa operations around.  Given the amount of outsized scrutiny their Africa operation gets (from everyone) they need some good headlines.  Right now the 26kt Cobalt production target (not all of which is

[topdop]

@bigguy56 yes I agree; it's completely amateurish. And I didn't expect anything more. But if this company truly had any independent Exec Management, you would not see this nonsense. They don't. So they can. We got a new CEO in May and there's not even a mention of him and/or a comment by him. Looks like a hokee appointment to me; same as the South African "coal" Chairman

[Zamboni99]

You know what they say... when it seems hopeless, can’t get much worse, it’s gonna take forever, I should dump this garbage.... that’s usually a good time to get in. I’m loading up. I can wait for years. The electric car-ification of the world is coming to an earth near you, and it ain’t happening overnight.

[stockhunter20001]

You made me laugh! You have said it all right.

[Lech1988]

All of Glencore's African assets are giving them a massive headache and the collapse in Cobalt price resulted in a $350m loss for Glencore.  We will have the "operational review" next week which will likely result in scaled back production guidance for KAT.  Also as expected they haven't even begun building the Ion exchange circuit which is now guided for operation in