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| 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 | 0.00% | 8.00 | 7.50 | 8.50 | 8.00 | 8.00 | 8.00 | 66,546 | 07:31:04 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Bitmns Coal Undergrnd Mining | 46.06M | -4.32M | -0.0106 | -15.09 | 65.26M |
From Apr 2019 to Apr 2024
TIDMMCM
RNS Number : 5120S
MC Mining Limited
26 June 2018
ANNOUNCEMENT 26 JUNE 2018
GENERAL BANKING FACILITY
MC Mining Limited (the "Company") is pleased to announce that it has procured a R20 million (twenty million rand) general banking facility (the "Facility") for its 70% held subsidiary - Uitkomst Colliery (Pty) Limited. The Facility is from Rand Merchant Bank ("RMB"), a division of FirstRand Bank Limited.
The Facility is subject to a floating coupon at the South African Prime rate (currently 10.0% per annum) less 0.5% and is a 12-month facility, which will be reviewed annually by RMB.
David Brown, MC Mining's Chief Executive Officer commented:
"The Company acquired its stake in Uitkomst on 30 June 2017 and it has proven to be a highly profitable operation, with strong underlying cash flows. Notwithstanding this, a general banking facility will provide Uitkomst with flexibility to temporarily finance sustaining capital to secure its production profile, should this be required.
"The facility is a further milestone on the strategic journey the Company has embarked on."
AUTHORISED BY:
David Brown
Chief Executive Officer
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For more information contact:
David Brown Chief Executive Officer MC Mining Limited +27 10 003 8000
Brenda Berlin Chief Financial Officer MC Mining Limited +27 10 003 8000
Tony Bevan Company Secretary Endeavour Corporate Services +61 08 9316 9100
Company advisors:
Financial PR
Jos Simson/ Gareth Tredway (United Kingdom) Tavistock +44 20 7920 3150
Ross Allister/Richard
Crichton/James Bavister Nominated Adviser and Broker Peel Hunt LLP +44 20 7418 8900
Charmane Russell/Olwen Auret Financial PR (South Africa) R&A Strategic Communications +27 11 880 3924
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. MCM's key projects include the Uitkomst Colliery (metallurgical coal), Makhado Project (coking and thermal coal). Vele Colliery (coking and thermal coal), and the Greater Soutpansberg Projects (MbeuYashu).
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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(END) Dow Jones Newswires
June 26, 2018 03:00 ET (07:00 GMT)
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