Share Name Share Symbol Market Type Share ISIN Share Description
Mc Mining Limited LSE:MCM London Ordinary Share AU000000MCM9 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 6.50 6.00 7.00 6.50 6.50 6.50 32,678 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 13.8 -10.4 -6.9 - 10

Mc Mining Share Discussion Threads

Showing 501 to 523 of 525 messages
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what a terrible share price to raise a measily sum. Dilution at its worst.
Well encarter, the following might answer your question, plus of course we should get a QUARTERLY update next week !! 21/07/2020 9:00am UK Regulatory (RNS & others) TIDMMCM RNS Number : 5402T MC Mining Limited 21 July 2020 ANNOUNCEMENT 21 July 2020 CONDITION SATISFIED FOR THE DRAW DOWN OF THE IDC LOAN Further to the announcement published on 6 July 2020, MC Mining Limited ("MC Mining" or the "Company") is pleased to confirm the satisfaction of the condition in the restructured loan agreement (the "Agreement") with the Industrial Development Corporation of South Africa Limited ("IDC"). This condition required the Company to secure commitments for the issue of new equity ("New Equity"), for a collective R15.0 million ($0.9 million*). In terms of the Agreement, the Company will now draw down R40 million ($2.4 million). These funds will be used to advance the Makhado hard coking coal project ("Makhado Project" or "Makhado") and for general working capital. The New Equity will be issued at an agreed price of 105.56 SA cents/ 6.27 pence (United Kingdom), a 9% discount to MC Mining's closing share price on Friday 17 July 2020. This will result in the issue of approximately 14.2 million new ordinary shares in the Company. The IDC will receive an estimated 1.1 million warrants, equating to 0.8% of MC Mining's issued shares, and its direct participation in the Makhado Project will increase from 5% to 6.7%. The New Equity will be issued following South African Reserve Bank approval, necessary for certain tranches of the new MC Mining shares. Reserve Bank approval is an administrative step and the approval is anticipated in early August 2020 and a further announcement confirming the exact number of shares and warrants and date of admission to trading on the ASX, AIM and the JSE will be made at that point. The Company previously secured a R245 million ($14.4 million) loan facility from the IDC. This is the initial step in the R535 million ($31.5 million) composite debt/equity funding package to develop Phase 1 of Makhado. MC Mining is in advanced discussions for the balance of the funding required and construction is anticipated to commence in Q4 CY2020/Q1 CY2021. Phase 1 has a nine-year life-of-mine and is forecast to produce 540,000 tonnes ("t") of hard coking coal annually as well as 570,000t of an export quality thermal coal by-product. Br enda Berlin, MC Mining's Acting CEO, commented: "The issue of the New Equity to existing and new shareholders underlines the robust fundamentals and compelling returns of the Makhado Project. This is a further significant step for MC Mining and we will now focus on securing the balance of the Phase 1 funding, delayed by the COVID-19 lockdown. The Company will also continue negotiations to defer the November 2020 repayment of existing debt owing to the IDC until the Makhado Project is generating positive cash flows. " Brenda Berlin Acting Chief Executive Officer
channel pirate
In what form do you expect the phase 1 funding to come if not a placing?
well in the RNS said there was a small equity raise. bought some today at 6.125 (reported as a sell) Uitkomst was due to be back at full production by the end of June. Arcelor Mittal have started up again and are calling for coal so demand for product IDC just a bridging loan so they have time to finalise the Phase 1 funding package. We know PIC would be slow looking at Europe, power, carbon and coal prices have also increased recently. crazy valuation given the sum of the parts but crazy times. good luck all, DYOR.
Nearly 1m traded on JSE today. Mostly sells. Someone departing.
The only reason for the glint in Mr Brown's eye at all those presentations was because he confidently knew he was going to jump ship !
RNS Number : 8804L MC Mining Limited 05 May 2020 ANNOUNCEMENT 5 May 2020 RECOMMENCEMENT OF COAL PRODUCTION AND LOCKDOWN UPDATE Further to the announcements on 26 March 2020 and 24 April 2020, MC Mining Limited ("MC Mining" or the "Company") provides a market update with regards to the impact on the Company of the global COVID-19 pandemic. MC Mining remains focused on taking the necessary precautions to prevent the spread COVID-19 and reducing the threat to our employees, contractors and stakeholders. Operations at the Uitkomst Colliery The South African Government issued a directive on 23 March 2020 (the "Directive") requiring a 21-day national lockdown (the "Lockdown"), effective midnight Thursday 26 March 2020 to midnight Thursday 16 April 2020. The Directive was as a result of a level 5 national coronavirus alert assessment and resulted in the high-grade Uitkomst metallurgical and thermal coal mine ("Uitkomst Colliery" or "Uitkomst") being placed on care and maintenance. The Lockdown was subsequently extended and on 23 April 2020 the Government announced a phased, risk-based approach to lifting restrictions and the alert level reduced to level 4 from 1 May 2020 (the Government address can be found at: hxxps:// ). Level 4 of the Lockdown authorises some business activity, subject to extreme precautions and under specific conditions. The underground Uitkomst Colliery is permitted to ramp up to 50% of labour capacity and must adhere to detailed health and safety protocols and introduce workplace plans to enable disease surveillance at site and prevent the spread of infection. The Department of Mineral Resources and Energy has also issued COVID-19 directives. These require mining companies to ensure screening of employees and where indicated, testing, and employees who have tested positive for the virus will need to be quarantined. All data collected during the screening and testing programme is to be submitted to the authorities. The Uitkomst Colliery has implemented standard operating procedures that comply with the required measures and limited activities at the mine recommenced on 4 May 2020. Uitkomst is a mechanised underground operation and it will be possible to ramp-up to 50% capacity within 7 to 10 days. During this period the colliery will assess the effects that the Lockdown has had on critical suppliers while the coal off-take market remains challenging due to the restrictions imposed on businesses. Uitkomst is in constant communication with its customers to ensure their requirements are met and the colliery is only expected to return to full operating capacity following further reductions in the national coronavirus alert assessments and once coal off-takes have normalised. Effects of the Lockdown on MC Mining's other sites The Lockdown also impacted activities at the Makhado, Vele and Greater Soutpansberg Projects as well as the Company's corporate office and led to the implementation of business continuity measures as well as stringent health and safety procedures. This also resulted in the Company having to implement a 'no work, no pay' policy for non-essential staff and a portion of wages were paid by the Government's Temporary Employee/Employer Relief Scheme, reducing the adverse financial impacts that the Lockdown is having on staff. The Company has also adopted a work-from-home strategy and where possible, staff will continue to work remotely. Available cash & facilities T he Company has an available cash balance of US$1.1 million as well as the US$6.5 million (R120 million) second tranche of the existing Industrial Development Corporation of South Africa Limited loan available for drawdown. MC Mining is engaged in discussions with its lender group regarding drawdown from existing and potential new finance facilities . As previously communicated, the Company is also in the process of securing the balance of the funding required to commence construction of Phase 1 of the fully permitted Makhado hard coking coal project and this is expected to be completed in Q2/Q3 CY2020. Br enda Berlin, the Company's CEO, commented: "The move to Lockdown level 4 facilitates Uitkomst resuming production of its high-grade coal, albeit at 50% of normal production. Safety of our people is critical and normalised operating activities at the Uitkomst Colliery and MC Mining's other sites will only resume when it is safe to do so and in line with Government regulations. Where possible, key activities for rest of the Group will continue remotely in isolated, safe environments and we remain very mindful of the economic toll that the pandemic has on our employees and their families. The Company continues to interact with potential domestic and international capital-providers to secure the balance of funding required to commence development of Makhado Phase 1 and anticipates that the process will be completed in Q2/Q3 CY2020 ." Brenda Berlin Chief Executive Officer
channel pirate
They must have done a good job as don't forget - they awarded themselves "performance bonus shares" (cough, cough, splutter, splutter) By the way, my £30,000 investment here is -----
channel pirate
These guys really have done a great job of promoting shareholder value..... My holding which was worth about £4000 is worth just a few hundred..... Thanks for that!
No idea. Met up with Brenda Berlin a couple of weeks ago, have some offers on table but waiting on PIC, who are considered the best option. I know others who have spoken with company this week and are very bullish on getting this done. Shocked we're down here to be honest but what do I know....
Why the drop?!!
If he was pushed then it might be good. Perhaps the potential lenders saw him as a problem.
RNS...!!! David Brown stepping down as CEO with immediate effect! That's not good..... :-( Mind you, masterminded the complete collapse of the shareprice during his tenure - so perhaps a good thing!
Tue, 3rd Dec 2019 12:00 > RNS Number : 5110V MC Mining Limited 03 December 2019 MC MINING - ANNOUNCEMENT 3 December 2019 DIRECTOR RETIREMENT Peter Cordin, a long-standing non-executive director of MC Mining Limited ("MC Mining" or "the Company"), decided not avail himself for re-election at the Company's recent Annual General Meeting. As a result, Mr Cordin retired as a director of the Company, effective 22 November 2019. Mr Cordin has been a member of MC Mining's board of directors since 1997 (22 years) and contributed to the Company being positioned to become South Africa's pre-eminent hard coking coal producer once the necessary funding is secured, anticipated in H1 CY2020. Mr Cordin also provided invaluable input as Chairman of MC Mining's Safety, Health and Environment Committee. Commenting today David Brown, CEO, said: "On behalf of the Board and shareholders, I would like to thank Peter for his enduring commitment and contribution to MC Mining over the many years. Peter provided wise counsel as the Company transformed from an exploration entity to a mining business with significant hard coking coal resources and we wish him well in his retirement." Authorised by David Brown Chief Executive Officer
channel pirate
Word seems to be company to issue more debt rather than issue equity at these levels. Good thing as company cash generative very quickly. Interesting times ahead
Fingers crossed for a premium!
Quarterly update next weekEquity funding ~6 weeks or so
Mirabeaud is their in-house broker so "meh". Any idea on when the next bit of news may drop?
Mirabaud Securitues have started overage, BUY with 90p price target
HCC off-take completed. ArcelorMittal. On time.
#MC #Mining #Limited (LON:#MCM) climbed 6.6% to 48.5p over the week after clinching a sale and purchase agreement for its Makhado hard coking and thermal coal project in South Africa.
Not sure why unclear? API4 published daily. Unclear who buying. Vitol?Project financing is regular project finance. Very vanilla. Project going ahead.Currently HCC $202 against $165 in assumptions for project
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