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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Mc Mining Limited | MCM | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 8.125 | 08:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 8.125 | 8.125 | 8.125 | 8.125 | 8.125 |
| Industry Sector |
|---|
| MINING |
| Top Posts |
|---|
Posted at 08/3/2024 10:13 by briggs1209 I've picked up a few more. Feels like someone is going to buy MCM and either the cheap bid or the non-bindiing bid will get me a profit. |
Posted at 18/2/2024 20:02 by gorblimey MC Mining Limited Off-Market Takeover Bid - Do NOT Accept the OfferRNS Number : 2628D MC Mining Limited 15 February 2024 ANNOUNCEMENT 15 February 2024 OFF-MARKET TAKEOVER BID - PRELIMINARY VIEW - DO NOT ACCEPT THE OFFER MC Mining Limited (MC Mining or the Company) provides the following update in relation to the off-market takeover bid by Goldway Capital Investment Limited (Goldway) for all of the fully paid ordinary shares on issue in the Company that the consortium of joint-bidders currently do not own for a cash price of A$0.16 cash per share (Takeover Offer). Executive Summary · DO NOT ACCEPT: The preliminary recommendation of MC Mining's Independent Board Committee (IBC) is that shareholders DO NOT ACCEPT the Takeover Offer from Goldway. · OPPORTUNISTIC: The IBC is of the view that the Takeover Offer is opportunistic, does not provide an appropriate premium for control and does not appear to attribute adequate value to MC Mining's assets and projects. · MINIMUM ACCEPTANCE CONDITION: The Takeover Offer is subject to a minimum acceptance condition (which cannot be waived) that Goldway receives acceptances in respect of at least 50.1% of the shares not held by Goldway and the joint bidders (Bidder Parties). In practical terms, this means that the Bidder Parties must be interested in or acquire relevant interests in at least 82.19% of the total shares on issue (not 75%) before (i) any offer consideration will be paid to any MC Mining Shareholders who have accepted the Takeover Offer and (ii) before Goldway can act upon any intention to delist MC Mining from trading on any and all of the Company's public market exchanges. Refer to the below Schedule for further details in relation to the above summary. Full details of the IBC's formal recommendation and reasons will be included in MC Mining's Target Statement, which will include the independent expert's report as to whether in the expert's opinion, the Takeover Offer is fair and reasonable and the expert's reasons for forming that opinion. The IBC look forward to your continuing support as we respond to the Takeover Offer. Khomotso Mosehla Chairman of the IBC This announcement has been approved for release by the Company's Disclosure Committee. |
Posted at 24/11/2023 06:08 by badger60 There's too many ifs, buts, currency, delisting questions liquidity uncertainties etc..here. I sold MCM and bought JSE.I feel more comfortable having just one listing a visible liquid market, good information flow and chat board. The company is very undervalued and has much to offer going forward. Dyor. |
Posted at 05/11/2023 14:10 by badger60 MCM MiningMkt Cap circa GBP 37 Mio quidTakeover target ???????Proved and Probable Coal Reserves estimates, reported in accordance to JORC Code guidelines, have substantially increasedcompared to the estimates reported previously9, to result in: oa 53% increase in total Coal Reserves from 69 to 106 Mt due to the revision in the East Pit optimisation and mine design; oa 64% increase in salable steelmaking HCC from 13.7 to 22.5 Mt achieved at an overall yield of 21.2%; andoa 57% increase in salable TC from 11.9 to 18.7 Mt achieved at an overall yield of 17.6%.The Coal Resource estimate on which this Coal Reserve estimate is based remains unchanged at 296 Mt of mineable tonnes in situ (MTIS) in the Measured and Indicated categories as previously announced by the Company10. The reported Coal Resource is inclusive of the Coal Reserve.Steady progress has been made with critical early works activities in line with the |
Posted at 05/11/2023 13:17 by badger60 As it stands the consortium need a 90% shareholding to force a takeover.....and they have yet to make a formal offer.While they collectively own a considerable 64.5% of MCM shares, the consortium does not own the other 35.5%.Interesting times ahead........ |
Posted at 05/11/2023 13:01 by badger60 In the meantime the share prices on all 3 exchanges have risen sharply since the Senosi letter......on AIM 50%....likewise on ASX, which is now virtually at the Senosi low ball offer.....and with volumes picking up very well. In many respects MCM is/ has turned the corner, in production efficiency, a huge increase in resources and the ongoing wip gearing up the flagship Makhado mine.I'm not so sure that the consortium, in a takeover situation like this, and writing their intentions in a formal letter to the company itself, could get MCM to issue additional shares to them in order to qualify to delist the company. I should imagine that would be considered somewhat fraudulent.Given the propensity of Australia , China, India etc. to produce and especially consume coal, MCM at such a low valuation and with huge resources could well become a target. |
Posted at 05/11/2023 12:10 by docc796794 The truth is: if Dendocept/Senoshi wanted more shares then they could buy it or be awarded it by MCM. By going the takeover route...they promise a binary choice (1) sell your shares or (2) do nothing. If investors choose two...then they run the risk of being left in no man's land. Therefore the takeover has to NOT happen for their to be light at the end of the tunnel for any of us.The ultimate result post the final takeover decision is likely to be a full delisting because they cannot go back to the market. That will be there cue to run the business on their own in private the way they want to. The government layers may also relegate downwards to non-IDC but rather BEE tender operators on contractual terms. I have seen this before...in another industry (non mining) and it can result in a big fail - latter stages. The ultimate message is "thanks for coming." Cheerio and toodles. Furthermore, because of the scope of the development and its commodity-type nature...they may also have a bit of angst about servicing the whole world with a full fledged entity...they may see it better off as an offline entity that is off the grid. In other words, servicing without a "name in the game." It's a stretch but does mitigate risk. |
Posted at 26/10/2023 23:32 by jailbird Our forecasts show a negative corporate cash position (peaking at US$56.7m at the end ofFY2025), coinciding with the Makhado project’s peak funding requirement (estimated by MCM at US$96m – details p10). Thus additional funding is required to add to the group’s existing cash (US$7.5m at 30 June 2023). In the ‘going concern’ assessment in MCM latest annual report (year to 30 June 2023), the group included a series of funding assumptions that indicate the various options under negotiation and/or consideration. • Deferring the existing R160m IDC loan until Makhado is in steady state production (as we assume above); • the securing of convertible debt funding (we would assume convertible into equity) of US$25m; • production-based funding (we would assume off-take related) of US$25m; • a prepayment of US$15.9m on the sale of hard coking coal; • construction-based funding including a BOOT (build-own-operate-t arrangement with a contractor of R155m (US$8.2m); • other debt/equity. As noted above, we have not included any of these funding assumptions in our forecasts or model. Clearly, the securing of additional debt with respect to Makhado would be valueenhancing to equity returns at the project level, and would reduce any future dilution at the corporate level stemming from the need for additional equity. |
Posted at 25/9/2023 13:09 by badger60 Imo there is justifiable reason to be optimistic about MCM future. The latest figures were a vast improvement on production, efficiency and reserves. One doubt was concerning the future solvency, which the company went at lengths to outline. This I believe is partly due to having to comply with certain reporting regulation requirements.Given that MCM is 71% owned by iis, I would imagine that collectively they would be supportive of any fundraising, and also the management have strongly intimated that there are other initiatives being explored and taken to enhance the business. Time will tell but at these levels, imo, the potential going forward is outstanding. |
Posted at 21/9/2023 08:22 by mint1111 Go into Advfn stockfinder and type mcm..... you'll get 3 ....mcm, mcm.gb and mcm asx.Have you bought any yet...or do you just talk about it? |
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