MC Mining Limited Trading Halt on the ASX (7914Y)
September 08 2022 - 6:21AM
UK Regulatory
TIDMMCM
RNS Number : 7914Y
MC Mining Limited
08 September 2022
ANNOUNCEMENT 8 September 2022
TRADING HALT ON THE ASX
MC Mining Limited (MC Mining or the Company) issued a cautionary
announcement on 28 July 2022 noting the rise in its share price.
Following further share price movements, Company's ordinary shares
have been placed into a trading halt on the Australian Stock
Exchange (ASX) (ticker: MCM). The Company's ordinary shares will
continue to trade on the and Johannesburg Stock Exchange (ticker:
MCZ) and AIM market of the London Stock Exchange plc (ticker: MCM).
Save as set out in this announcement, the Company confirms that it
is not aware of any reason for the recent share price movement.
As previously reported, the Company continues to advance the
funding processes for the Makhado hard coking coal project. The
funding is expected to include a combination of debt and equity to
be issued by the Company. The equity portion of the potential
fundraise is likely to be undertaken at a discount to the Company's
current share price and subject to prevailing market conditions.
There can be no guarantee that a capital raising will be completed,
and further announcements will be made in due course, as
appropriate. MC Mining expects to make a further announcement by
Monday, 12 September 2022, whereupon it will apply for its shares
to recommence trading on the ASX.
Godfrey Gomwe
Managing Director and Chief Executive Officer
This announcement has been approved by the Company's Disclosure
Committee.
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014, as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 (as amended).
For more information contact:
Tony Bevan Company Secretary Endeavour Corporate Services +61 08 9316 9100
Company advisors:
James Harris / James
Dance Nominated Adviser Strand Hanson Limited +44 20 7409 3494
Rory Scott Broker (AIM) Tennyson Securities +44 20 7186 9031
James Duncan 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. 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).
All figures are denominated in United States dollars unless
otherwise stated. Safety metrics are compared to the preceding
quarter while financial and operational metrics are measured
against the comparable period in the previous financial year. A
copy of this report is available on the Company's website,
www.mcmining.co.za .
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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END
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September 08, 2022 06:21 ET (10:21 GMT)
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