Mc Mining Takeover Rumours (MCM)

MCM MiningMkt Cap circa GBP 37 Mio quidTakeover target ???????Proved and Probable Coal Reserves estimates, reported in accordance to JORC Code guidelines, have substantially increasedcompared to the estimates reported previously9, to result in: oa 53% increase in total Coal Reserves from 69 to 106 Mt due to the revision in the East Pit optimisation and mine design; oa 64% increase in salable steelmaking HCC from 13.7 to 22.5 Mt achieved at an overall yield of 21.2%; andoa 57% increase in salable TC from 11.9 to 18.7 Mt achieved at an overall yield of 17.6%.The Coal Resource estimate on which this Coal Reserve estimate is based remains unchanged at 296 Mt of mineable tonnes in situ (MTIS) in the Measured and Indicated categories as previously announced by the Company10. The reported Coal Resource is inclusive of the Coal Reserve.•Steady progress has been made with critical early works activities in line with the

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As it stands the consortium need a 90% shareholding to force a takeover.....and they have yet to make a formal offer.While they collectively own a considerable 64.5% of MCM shares, the consortium does not own the other 35.5%.Interesting times ahead........

In the meantime the share prices on all 3 exchanges have risen sharply since the Senosi letter......on AIM 50%....likewise on ASX, which is now virtually at the Senosi low ball offer.....and with volumes picking up very well. In many respects MCM is/ has turned the corner, in production efficiency, a huge increase in resources and the ongoing wip gearing up the flagship Makhado mine.I'm not so sure that the consortium, in a takeover situation like this, and writing their intentions in a formal letter to the company itself, could get MCM to issue additional shares to them in order to qualify to delist the company. I should imagine that would be considered somewhat fraudulent.Given the propensity of Australia , China, India etc. to produce and especially consume coal, MCM at such a low valuation and with huge resources could well become a target.

If the takeover is approved- it could be announced by early December post the AGM. But that would have to be a clear message of intent from the new owners

Well, let's just hope that the IDC and government also have the minority shareholders interest in mind when considering the terms of a take over/or a possible delisting.....which imo is not preferable. I'm sure that a reasonable share price valuation can be arrived at, without screwing the minority shareholder yet appeasing the consortium. Rules like these were created to protect the pi from being savaged by consortium greed. I notice that you have only just started posting, and seemingly in favour of the takeover route thus hoping that you are in favour of seeing all minority shareholders getting a fair deal based on reliable 3rd party MCM valuation. As you say a Delisting would be "a bummer". Time to wait and do nothing (as advised) until things unfold. I refer you to 2bozmo#1020 bullet point post which contains some useful info.

If a takeover did ensue...the likelihood of those conditions being met is extremely good. The company is well geared AND with changes in ownership composition swinging the votes is not a problem. The government / IDC will also be on hand to facilitate with leniency etc. I just find it unnecessary - only "good" reason to delist is if the company decides to go a bit dark / grey for bulk commoditized throughput.

Hi there, how do you see this as Free Money? If the takeover offer progresses - they will have to delist from the JSE... They cannot expand the share subscription months later through a fund raise and cut out the existing base of shareholders today... The Financials will also move out of public scrutiny so the profits fall in the hands of a few as opposed to long term individual investors. DELISTING is a very real possibility for a highly visible asset and a truly South African initiative. I doubt people will have short memories if this goes through...and the offer price is well short of a real valuation. What is you view on a near certain Delisting? It's a real bummer if you ask me. Alot of us had faith ðŸ™￾.

1) consortium need 90% to force takeover;2) company regard this as a low ball offer;3) consortium haven’t made a formal offer;4) from the early days of David Brown, the fear was someone would take them out on the cheap once realise the size of the asset;5) potential for another interested party to bid;6) company still working on debt financing. Consortium don’t want dilution. Take and run themselves Get your popcorn for the AGM

hxxps://www.sharesmagazine.co.uk/news/market/1698934041205621500/mc-mining-advises-no-action-on-intended-takeover-offer-by-shareholders

More relevant type news. MCM is a sitting duck for takeover bid with their assets, current market cap and strong balance sheet. Won't be long. Whitehaven Coal’s purchase of two coking coal mines from BHP and its partner, Japan’s Mitsubishi, for $US3.2 billion ($5 billion) will push earnings per share up 93 per cent by 2025, according to brokers at Citi.