REG - MC Mining Limited - Directorate Change

MC MiningAnnouncement

25/04/2024 14:00

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RNS Number : 0814M  MC Mining Limited  25 April 2024

ANNOUNCEMENT
                               25 April 2024

 

RESIGNATION OF INDEPENDENT NON-EXECUTIVE CHAIRMAN

 

MC Mining Limited (MC Mining or the Company) announces that Mr Nhlanhla Nene
will step down as Director and Chairman of the Board, effective today, 25
April 2024. Mr Nene joined the Company on 11 April 2022, initially serving as
a Non-Executive Director and then as Chairman from 28 April 2022.

 

At the time of his appointment, MC Mining was facing challenging operating and
funding conditions following the COVID-19 pandemic. The Company subsequently
completed a fully underwritten rights issue in November 2022, facilitating the
revitalization of the Makhado steelmaking hard coking coal project and a
revision of its development strategy, significantly enhancing the value of the
project for all stakeholders.

 

Managing Director and Chief Executive Officer, Godfrey Gomwe,  said: "MC
Mining and the board express their sincere appreciation to Mr Nene for his
role in advancing the Company and its steelmaking coal assets. MC Mining is
now on a more stable footing with clear development plans for its large coal
resource base and we wish him every success in his future endeavors."

 

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

 

 For more information contact:
 Tony Bevan                     Company Secretary                   Endeavour Corporate Services          +61 42 1072 165
 Company advisers:
 Richard Johnson / Rob Patrick  Nominated Adviser                   Strand Hanson Limited                 +44 20 7409 3494

 Rory Scott                     Broker (AIM)                        Tennyson Securities                   +44 20 7186 9031
 Marion Brower                  Financial PR (South Africa)         R&A Strategic Communications          +27 11 880 3924
 BSM Sponsors Proprietary 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).

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