Mc Mining Share Discussion Threads

[bad gateway] 29/7/2022 14:57

Wasn't the only offer they had for access to the export market either so would expect this to become longer term.



"Overlooked charges a competitive marketing fee of 5% of the sales price which is reasonable considering competing proposals received by Uitkomst, for providing access to the international market."

[2bozmo] 29/7/2022 13:56

Yes, $35m over next 5 months compared with $30.5m over past 12 months is very significant

[bad gateway] 29/7/2022 13:01

Agreed and with the minimum 20kt/month at $313 they're looking at nigh on $7m/month as a new income stream.
Can see it becoming a longer term agreement whilst the international markets strong (there's a lot of shared interest between the 2 co's and their directors) which would give them a single revenue stream higher than their present market cap.
See the markets not excited today but will hold/add and see what develops.


"Related Party Transaction

The Company entering into the Marketing Agreement, as set out above, is deemed a related party transaction under the AIM Rules for Companies due to Mr Matthews Senosi (a Non-Executive Director and Substantial Shareholder (as defined by the AIM Rules) of the Company) being the Chief Executive Officer and majority shareholder of Overlooked. The independent directors of the Board of MC Mining, being those directors other than Mr Senosi, having consulted with Strand Hanson Limited, the Company's Nominated Adviser, consider the Marketing Agreement to be fair and reasonable insofar as the Company's shareholders are concerned."

[2bozmo] 29/7/2022 11:35

Last quarter they were getting $110/tonne. Think this quarter they didn't get any sales to main customer due to maintenance so lower revenue middling sales made up greater proportion of sales, hence lowering the average.But as you say 22,169 tonnes at Durban and stockpiles of 15,534 tonnesLet's say, we sell at API4 prices of $330 so get $313.50 after 5% marketing fee. So that's $11.8m in revenue if don't sell to domestic. Significant sum for us

[bad gateway] 29/7/2022 10:44

Reading todays report they needed the export deal. Only getting $80/tonne in the domestic market but they have 22,000 tonnes sat at the port already and another 15,534t at the colliery.
"The average API4 prices for the three months to 30 June 2022 were $315/t compared to $105/t in Q4 FY2021." so quite a dramatic change in revenue for them. They could do with RNSing its become a permanent arrangement imo.

[bad gateway] 28/7/2022 14:05

Not listed in the RNS. End date of Dec's given for the agreement but would expect it to be extended if prices stay high.
Its with a co. run by one of their non execs who's also a substantial shareholder so shared interests and quotes at least 20ktonnes/month so cashflow would seem significant over the near term at least.
Still got financing to finalize but looks to be coming together at last.

[aimmafia] 28/7/2022 13:26

I haven't read it yet. When does first payment come In For this?

[bad gateway] 28/7/2022 12:38

Understand the sell on the news reaction but not a bad contract imo.
20k guaranteed tonnes/month at the av of $276 gives them over $5m/month after the marketing fee if my maths is correct.

[aimmafia] 28/7/2022 08:13

Absolutely no stock available. Looking good

[aimmafia] 28/7/2022 08:09

Indeed. Any volume takes us above 20p pretty much instantly

[glennborthwick] 27/7/2022 17:36

Well this was worth holding.

[aimmafia] 27/7/2022 17:12

JSE closed at 380 around 19-20p? We could keep heading north for a few more days yet.

[aimmafia] 27/7/2022 16:16

CAn easily sell 60,000 shares In 1 go so fully expect this to keep going. Good luck all

[aimmafia] 27/7/2022 16:12

I think 25p to 30p should be pretty much. Nailed on over coming days / weeks

[aimmafia] 27/7/2022 16:09

Something big is going on

[2bozmo] 27/7/2022 13:33

Recent developments:

- coal prices up again, Russia reduces European gas supply and market rejects Russian coal;
- company had some interest from buyers out of Europe who will pay top buck compared to the domestic SA market. I asked about this at EGM a couple of weeks ago and will be some next in quarters update due this week, and something they said was one of their objectives;
- Japan coal deal: Nippon Steel will buy coal at $375/tonne through March 2023, one of the most expensive coal deals ever.

- new Chairman and CEO are big-hitters;
- resolution 2 didn’t get approved so less liquidation and stops Senosi owning over 30%;
- MG have confirmed they are out as per of their zero coal policy. No supply overhang;

- United Nations Development Plan South Africa has endorsed the MMSEZ;
- environmental protests thrown out, green light given for MMSEZ to go ahead;

- financing expected to be completed this quarter. Heard it before but new management might pull a few strings.

Assume someone in SA knows something and buying ahead of update. Massive premium of JSE over London, JSE last 339, equivalent to 16.65p, London 9.75p.

[aimmafia] 26/7/2022 15:56

Shareprice is flying

[nestoframpers] 09/6/2022 18:33

571 Lol , thanks for reminding me held £1000 worth for 13 years now worth about £20 .

[bad gateway] 06/6/2022 13:30

On the plus side good to see no charges, equity or otherwise for setting up the facility, thats normally the first killer for the share price and no warrants either.

[ianio5691] 06/6/2022 13:18

RNS.
More questionable emergency funding.


Brace for another massive conversion when they cannot find the cash to repay this one!

" The outstanding balance on the Final Maturity Date is payable in cash or convertible to MC Mining equity at a price per share calculated as the prevailing 30-day Volume Weighted Average Price minus 15% on the date of conversion . Payment in MC Mining equity is at the sole discretion of GVM Admin and the Company and is subject to all required shareholder and regulatory approvals, including South African exchange control approval."

[aimmafia] 29/4/2022 16:48

Good day here today. Push back over 10p soon

[stockhunters] 29/4/2022 15:54

GCM worth a look if you like bombed out coal stocks

[2bozmo] 29/4/2022 14:12

Senosi now on the board and his companies produce over 7.5 million tonnes of thermal coal for domestic and export markets. Hopefully we can take advantage of these higher overseas prices if not reflected in domestic markets