Mc Mining Share Discussion Threads

[mjcferguson] 23/3/2022 15:13

I also recall that Rio Tinto paid around 75 million dollars quite a few years ago for the rights over the coking coal and we have moved well on from then regarding permits,plans etc.!

[mjcferguson] 23/3/2022 15:11

The real value here is in the coking coal reserves which will be unlocked once finance is put in place.Recent investment by South African mining house is very positive in my opinion,they would not have put their cash up if there were not confident that finance was near.Their investment will also help bringing finance,especially against a background of very high coal prices and Russian folly.

[aimmafia] 23/3/2022 13:03

We just need a bit of sentiment and a bit of buying and this does 10-15p straight off the bat. I've taken a position that I am comfortable with and happy to see some positive news take this up. They must be making good profit on current margin and production levels. Current market cap is only 8 million. If they have a good 6 month financial / production update then this will surely fly north.

[2bozmo] 23/3/2022 09:06

There will be dilution, but covid took this to where we are now from March 2020. Coal prices over $200 now versus $45. Uitkomst in profit. MM SEZ green light. Forced seller out. This will happen.

[ianio5691] 23/3/2022 08:51

Not one for widows or orphans.
Think there will be a continued drag on the share price until the uncertainty over further funding is resolved.

Their is still a real risk of existing holders being diluted to oblivion.....




"The IDC Facility (capital amount $15.3 million (ZAR160,000,000)) is now repayable on 30 November 2022 and the Company's cash flow forecasts include the assumption that it can negotiate a deferred settlement over time of the Facility to when Makhado Phase 1 is at steady state production, as opposed to being payable in November 2022, with the balance being rolled into a New Facility with the IDC. This is conditional on the Company raising further funding for the development of Phase 1 of the Makhado project (the "Additional Funding"). The Company is exploring and progressing a number of alternatives to raise the Additional Funding including, but not limited to, the issue of new equity for cash in both the Company and its subsidiary companies which own the Makhado project, the sale of minority stakes in the corporate entities holding the Makhado project, further debt funding and contractor funding, such as build, own, operate, transfer ("BOOT") arrangements.

The conclusion of the debt and equity raise is by its nature an involved process and is subject to successful negotiations with the external funders and shareholders, as well as the potential funder's due diligence process. As such, whilst the directors are confident, there can be no guarantee that the required funds will be raised. In the event that the parties cannot reach agreement on further deferment terms or the Company does not repay the loan by the repayment date, the financing documentation allows for the IDC Facility to be converted into equity."

[aimmafia] 23/3/2022 08:18

So much coal being shifted and seller out. This will re rate

[aimmafia] 17/3/2022 23:57

Great post. Most people dont actually realise just how much coal these guys have been shifting. There should be a healthy amount of profit being made now. They also have a lot of great assets. I have made my first batch of purchases today now the over hang could be cleared. Could easily do 15p in no time.

[2bozmo] 17/3/2022 23:09

Yeah yeah. We all know that, you're missing the point here captain. The fact is that since q3 2020, MG have been a forced seller of all the coal stocks and holdings as following new guidelines regarding ESG. Remember this was when covid had taken hold and driven coal prices down to almost $40. They've sold over 23m shares, not really caring what the price was as they've had to get out. Now the overhang has gone, coal prices have rocketed, Uitkomst is in profit, we own the farms, Musina-Makhado SEZ has the green light. Everyone knew the supply overhang was there but now who's left to sell? Yes, there will be some dilution but no reason why we shouldn't see x4 or x5 pretty quickly from here

[rogerc1985] 17/3/2022 15:36

Sounds like a placing is coming -- The Company continues to progress a number of debt/equity funding initiatives to raise the additional funding required to develop the Makhado hard coking coal project (Makhado Project or Makhado) ;

[aimmafia] 17/3/2022 15:00

I've been buying today

[2bozmo] 17/3/2022 11:09

Remember these guys have been selling every f'ing day, taking their holding from 18% to zero now. All because they are no longer allowed to hold coal. We have an opportunity now

[2bozmo] 17/3/2022 10:53

That's M&G out. Overhang gone. Can we rally?

[danmart2] 01/2/2022 19:12

will result in SGIH holding an aggregate interest in the Company's enlarged share capital of approximately 31.71%


That’s a huge dilution

[bengal1] 01/2/2022 12:18

Terrible dilution at pitiful level.

[danmart2] 01/2/2022 10:28

Not impressed with the financial agreements discussed, big share dilution on the way to raise the necessary funds unless they can do a take off agreement

[ianio5691] 01/2/2022 09:02

RNS finance agreed.

Needs to be signed off, which will take some time.

Death Spiral agreement though...
Never seen one of those work out well for existing shareholders.

[aimmafia] 31/1/2022 08:41

If you have not checked out #cgo then you are missing a massive opportunity - I called #ben at 13p and its now 40p - CGO is just 6p now and will be multiples higher in a matter of weeks / months.Contango holdings will be producing met coal in just 60 days!! - up to 800% upside in just 2 months - production starts in less than 60 days. CEO said last year in March earnings would be $12m PA on our met coal asset and that was before coal TREBLED in price. When we start production in 60 days Cgo will have earnings of up to £30m PA with just our coal assets which will take us up to £200m Market cap. So around 50p share price on coal alone without coke batteries!!! We have enough coal to run for centuries!! Around 1.6 billion tonnes of coking coal!!This is not including income from our Coking batteries which are starting to be installed in April this year! We also have our gold assets which are not even factored in!!Incredible value here! You have seen what Ben's creek did, now it's time for #cgo to do the same. Now is the time to buy. Buy at the bottom and watch this rise.

[aimmafia] 26/1/2022 23:04

https://t.me/+q3g5WKG6H-MyMjBkTelegram link for mc mining

[dave4545] 16/11/2021 12:54

mm's do not want to nudge this do they.

You would think with a 50k buy at full 6p one would go 5.5p bid and try and generate interest to clear the overhang

[dave4545] 29/10/2021 10:29

86% increase in the prices received for coal more than offsets any coal lost.

When this massive seller ever clears then it will be a good day to be holding these

[2bozmo] 20/10/2021 22:29

Interesting RNS today and subsequent >3m shares traded with majority through Winterfloods, who are being used for M&G unwind.Once this supply overhang goes then I think we will see a decent re-rating here, maybe 30-40p in near term.I would be also interested to know who is buying the M&G stake as these are pre-arranged trades.False dawns before, but maybe high coal prices can see a chance of fortunes for us long suffering holders.Just throwing something out there, been quiet in here for too longG

[channel pirate] 31/7/2021 07:05

One option not available to me yesterday (Friday 30th July) was to top-up with another 20,000 shares. On trying to buy I got the message "no live price available". I then tried a "fill or kill" trade to buy 20,000 shares at the full ASK of 6p. Email from Broker came back "your request to buy 20,000 MCM @ 6p has been rejected due to the BUY price being 6.5p. When did we ever get an ASK price of 6.5p yesterday ??

Wasn't overactive with trades either yesterday as NONE were recorded between the open and close market hours of 8am and 4-30pm. Couldn't get through to Broker on the phone to find out what was going on.

[danmart2] 11/7/2021 13:02

What are the credible funding options open to the company at this stage?

[2bozmo] 09/6/2021 15:41

Richards Bay coal at $115. Must be in profit? Surely must raise money with these economics?