Shares of Katanga Mining (TSX: T.KAT, Stock Forum) continued their climb upwards Wednesday, jumping 7.5% to $1.15, after surging 75% on Tuesday.
The latest news release from the company came on May 8, with Katanga saying that it would file a preliminary short form prospectus in relation to its previously announced US$250 rights offering.
Katanga, which operates a mine complex in the Democratic Republic of Congo producing refined copper and cobalt, also announced on Friday that a subsidiary of the company has settled all existing liabilities and proceedings and obtained a release from potential claims arising out of the early termination of a construction and services contract.
In a post Wednesday on the company’s Bullboard, Stockhouse member Banffstocker said: “Decided to post before my shift starts, just to say that this is AMAZING!!!!! another story of a company meltdown and a great come back, just like URANIUM ONE, NOVAGOLD, MERCATOR MINERALS, TECK COMINKO and so many more!!! Don't know how long this rally is gonna last, but for those who bought at the 30 cents level, are laughing all the way to the Bank by know, i bought in yesterday at 70 cents in my launch break and still holding just for a little while[sic].”
In the same post, Banffstocker also posted information from a publication, which mentioned that the “Congolese government is expected to discuss the mining licenses that remain outstanding from its review of the sector” at its fortnightly meeting.
