MC Mining Limited Director Resignation (7996H)

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RNS Number : 7996H

MC Mining Limited

07 December 2020

ANNOUNCEMENT

7 December 2020

RESIGNATION OF ACTING CHIEF EXECUTIVE OFFICER AND EXECUTIVE DIRECTOR

MC Mining Limited ("MC Mining" or the "Company") announces that Brenda Berlin will step down as acting Chief Executive Officer ("CEO") and Executive Director effective 15 February 2021. An executive search is in progress and the Company expects to appoint a permanent CEO within sufficient time to allow for an orderly handover.

Ms Berlin joined MC Mining in April 2018 serving as Executive Director and Chief Financial Officer and was subsequently appointed acting CEO in February 2020. She has played a leading role in securing the majority of the funds required to develop the Company's flagship, fully permitted Makhado hard coking coal project ("Makhado Project"). She has also successfully steered the Company through the turbulent period following the spread of the COVID-19 virus and subsequent lockdown. Brenda worked closely with both MC Mining's chairman of the board and chairman of its audit committee on the Makhado Project development financing and her departure in February is not expected to impact on finalising the Phase 1 funding package.

Commenting today Bernard Pryor, MC Mining's Chairman said: " On behalf of the Board I would like to thank Ms Berlin for her commitment and extensive contribution to the Company, particularly during her tenure as acting CEO. The COVID-19 pandemic has made the past year incredibly challenging and Ms Berlin has been instrumental in navigating the Company through these turbulent times and in securing the majority of the funds required for Phase 1 of the Makhado Project. I wish her well in her future endeavours ."

Authorised by

Bernard Pryor

Chairman

This announcement has been approved by the Company's Disclosure Committee.

This announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

 
 For more information contact: 
 Tony Bevan                    Company Secretary              Endeavour Corporate Services    [phone] 
 
   Company advisors: 
 James Harris / James Dance    Nominated Adviser              Strand Hanson Limited           [phone] 
 Rory Scott                    Broker (AIM)                   Mirabaud Securities Limited     [phone] 
 James Duncan                  Financial PR (South Africa)    R&A Strategic Communications    [phone] 
 Investec Bank Limited is the nominated JSE Sponsor 
 
 

About MC Mining Limited:

MC Mining is an AIM/ASX/JSE-listed coal exploration, development and mining company operating in South Africa. MC Mining's key projects include the Uitkomst Colliery (metallurgical and thermal coal), Makhado Project (hard coking coal). Vele Colliery (semi-soft coking and thermal coal), and the Greater Soutpansberg Projects (coking and thermal coal).

Forward-looking statements

This Announcement, including information included or incorporated by reference in this Announcement, may contain "forward-looking statements" concerning MC Mining that are subject to risks and uncertainties. Generally, the words "will", "may", "should", "continue", "believes", "expects", "intends", "anticipates" or similar expressions identify forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond MC Mining's ability to control or estimate precisely, such as future market conditions, changes in regulatory environment and the behaviour of other market participants. MC Mining cannot give any assurance that such forward-looking statements will prove to have been correct. The reader is cautioned not to place undue reliance on these forward-looking statements. MC Mining assumes no obligation and does not undertake any obligation to update or revise publicly any of the forward-looking statements set out herein, whether as a result of new information, future events or otherwise, except to the extent legally required.

Statements of intention

Statements of intention are statements of current intentions only, which may change as new information becomes available or circumstances change.

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December 07, 2020 10:50 ET (15:50 GMT)