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MC Mining Ltd - Western Australia-based coal miner with projects in South Africa - Trading in shares has been halted on the Australian Stock Exchange following a sharp rise in stock that was first noted late in July. But the share will continue to trade on the Johannesburg Stock Exchange and AIM's London Stock Exchange. MC Mining says it is not aware of any reason for the recent share price movement.
The company says it 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. 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. It expects to make a further announcement by Monday, when it will apply for its shares to resume trading on the ASX.
Current London stock price: 24.45 pence, up 1.8% on Thursday
12-month change: multiplied from 6.00p on September 10, 2021
Current Johannesburg stock price: ZAR5.49, up 3%
12-month change: multiplied from ZAR1.24 on September 9, 2021
Current Sydney stock price: AUD0.50, up 25%
12-month change: multiplied from AUD0.13 on September 9, 2021
By Artwell Dlamini; artwelldlamini@alliancenews.com
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