(Alliance News) - MC Mining Ltd on Thursday announced the resignation of Non-Executive Director Thabo Mosololi.
Mosololi, the company said, is leaving to focus on an executive role in the hospitality sector. His resignation was effective from December 31, having served on the board since 2014.
"On behalf of the board and shareholders, I would like to thank Thabo for his contribution to MC Mining as we transformed to a mining company while also developing our flagship Makhado hard coking coal project," said David Brown, MC Mining's chief executive.
"Consistent with our November and December 2019 announcements, we continue to progress the composite debt/equity funding initiatives for phase one of Makhado. This includes due diligence investigations by potential debt providers and investors at both group and project level and we anticipate completion of the funding processes during the first half of 2020, with construction commencing soon thereafter," Brown added.
Shares in London were 5.2% lower on Thursday morning at 27.03 pence each, but shares in Johannesburg were 9.2% higher at ZAR7.00 each.
By George Collard; georgecollard@alliancenews.com
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Mc Mining (MCM)