Member Info for AndyRMCZ

Renergen - Yip, not one for orphans and widows, but the risk is currently priced in so might be worth a punt, but don't put all your eggs into the Renergen basket.

Also look at Copper 360 and Renergen.

This is a long shot and maybe things don't work this way but if mine management can convert the IDC loan to equity then Goldway will no longer have the percentage needed for the takeover, unless the IDC favors the takeover.

....read SENS announcement from Feb 2021 below particularly the last paragraph...

IDC LOAN UPDATE

MC Mining Limited (“MC Mining” or the “Company”) is pleased to announce that the Industrial

Development Corporation of South Africa Limited (“IDC”) has extended the date for repayment of the

R160 million loan ($10.3 million) plus interest owing by a subsidiary of the Company, to 31 July 2021.

The Company is also pleased to announce that the IDC has agreed to extend the terminal draw down

date in respect of the conditional R245 million ($15.8 million) term loan facility agreed to partially

finance the development of Phase 1 of the Makhado hard coking coal project (“Makhado Project” or

“Makhado”), to 31 July 2021, subject to the IDC reaffirming its financial due diligence.

The IDC has provided longstanding support for the development of the Company’s flagship, fully

permitted Makhado Project. MC Mining initially utilised R120 million ($7.7 million) (“First

Drawdown”) of a R240 million ($15.5 million) IDC facility to progress the Makhado Project to fully

permitted status and complete the acquisition of the surface rights required for the mining area.

During August 2020, the Company and the IDC restructured that IDC Facility and MC Mining drew

down an additional R40 million ($2.6 million) (“Second Drawdown”) and the remaining R80 million

($5.2 million) undrawn balance was cancelled. The First and Second Drawdowns resulted in the IDC

becoming a 6.7% shareholder in MC Mining subsidiary, Baobab Mining & Exploration (Pty) Ltd, which

owns the Makhado Project.

The First and Second Drawdowns of R160 million ($10.3 million) plus accrued interest were originally

due for repayment by 30 November 2020. As previously announced, MC Mining submitted a formal

application to extend the repayment date and the IDC has now agreed to extend the repayment date

to 31 July 2021. The Company and IDC will however continue discussions with the objective of

scheduling the repayment of the First Drawdown to align with the positive cash flows generated by

the project, whilst repaying the Second Drawdown from the proceeds raised to construct Phase 1. In

the unlikely event that the parties cannot reach agreement on further deferment terms or the

Company does not repay the loan by the repayment date, the financing documentation allows for the

debt to be converted into equity.

There are some ANC heavyweights in the management and board (NENE ex finance minister) so I'm sure they've upset some of the ruling party "comrades."

Goldway must have approached shareholders with large amounts of shares to either join them or alternatively they offered them more money, enough to get to the required percentage of shares they needed.

Just say NO. They were happy to pay AU$0.20 1 year ago now they want to steal our shares for 20% less..... NO

Not a done deal at all, not even close.

As long as the money is going to the building of the infrastructure at Makhado.

I know I'm crying over spilt milk and it's not the easiest thing to sell a coal mine, but management missed a golden opportunity 2 years ago when thermal coal prices were at record highs to sell Vele. That money could have gone a long way to finance Makhado.

As of today, Senosi holds 23,4% and Dendocept holds 6,9% of total shares in issue.

Sasol is also looking for good quality coal

Sounds like take over talk.....

Https://www.marketwatch.com/press-release/metallurgical-coal-market-report-2023-2030-key-growth-insights-and-future-trends-analysis-2023-06-15

MC Mining also employed independent consultants to review the Makhado mine plan and this forms part of the detailed execution plan. MC Mining’s directors approved the start of early works at Makhado and the company allocated R71.3-million to this and expects to have this completed at the end of the first half of the calendar year.

The early works began in February and include, among others, a bridge and internal roads, initial bulk earthworks, site security and communication infrastructure.

The Makhado CPP optimisation study was completed by independent experts during the period and the results of this study are being used in Erudite’s detailed CPP and infrastructure design work. The planned Makhado CPP yearly RoM feed capacity is expected to result in an increase in RoM capacity from three-million to four-million tonnes a year in addition to further refinements of the plant design.

The funding initiatives for Makhado continued during the period and these are expected to be finalised in the first half of the year following completion of the detailed designs for the Makhado CPP and updated mine plan.

Arcelor Mittal strong today -no news on the SENS. Hopefully it has something to do with MCZ.

Sentiment in South Africa is currently very negative. We have got massive electricity supply problems and currently we are without power for 8 hours a day. The railways are also in a mess and that is vital for coal transport. Without any positive news from companies, the sentiment will be VERY risk off.

It's most probably because it's the end of the tax year in South Africa this month. In order not to have to pay tax (CGT) on profits from trading or lose the ability to balance loss making trades throughout the year one would sell shares to balance out the profit/losses of the year. Then you buy back the shares because you want to still be in that particular stock. Hope this explains what probably happened.

Sasol's CEO today stated that they are looking to purchase 'better quality coal" for their operations. Sasol buys in 4-5 mtpa whilst it also mines and uses about 35 mtpa for it's South African operations.

Some export prices to India - Mozambique-origin 6,000 kcal/kg NAR coal was priced around $167-$175/mt CFR West India. In comparison, the 6,000 kcal/kg NAR Richards Bay coal was at $205/mt and the 5,500 kcal/kg NAR Newcastle coal was at $140-$150/mt, according to data from S&P Global.

Volumes today were the highest I've seen in the 8-10 years I've been following this stock! 1876 859 shares traded today on the JSE.