MC Mining Limited General Banking Facility (5120S)

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

 
 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.

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