Member Info for Sandhopper

"We are extremely pleased with the support shown by both new and existing investors as part of this fundraise. We continue to experience strong demand for our products. This injection of additional capital will allow for the commencement of the planned manufacturing capacity expansion in the US enabling us to increase the output of our San Antonio facility, unlock additional revenues and realise new partnership opportunities we foresee potentially emerging," said Interim Chief Executive Gareth Jones.

By Lucy Heming;Â lucyheming@alliancenews.com

If Woodford was still trading and held his 26%, would he have allowed this !! Don't forget he held shares bought at much higher prices

Looking at the trades this morning then had a bit of a scare when I seen the "sell" of 119,226 gone through as this was the exact number of shares I was trying to sell and buy back just before the close last night (bed & ISA), but HL yet again were unable to provide a "live price" last night so I aborted the idea. It's not as 119,226 shares was a round figure.

Have had to log into my account this morning a couple of times to make sure "all is still in place", and yes they are still there - Uncanny

Morning chester,

re.."Glenmorangie 18 ordered from Masters of Malt."

Just took delivery this morning of my Glenmorangie "the Tarlogan", so looks all set now for the share price to start rising, then we will join it by 'raising' our glasses - sounds like a plan.

Sandhopper

Thought I would sell a few and buy them back in the ISA this morning, but H.L. would not give me a price to sell (09-45am) so looks as though I will have to leave this idea "parked up" for another day. Didn't want to reduce my holding, just transfer some from one fund to the other.

continued …...
Comment

Company CEO, Brenda Berlin: "I am very pleased with the smooth ramp-up to the 50% labour capacity level at the Uitkomst colliery and the continuing strong demand for its products from existing customers. I also acknowledge the continued support of our existing financiers and am looking forward to finalising negotiations in the short term"

Brenda Berlin
Chief Executive Officer

Mon, 18th May 2020 10:33
RNS Number : 2021N
MC Mining Limited

18 May 2020

ANNOUNCEMENT 18 May 2020

MARKET UPDATE

MC Mining Limited ("MC Mining" or the "Company") is pleased to provide an update with regards to the impact on the Company of the global COVID-19 pandemic. MC Mining remains focused on taking the necessary precautions to prevent the spread COVID-19 and reducing the threat to our employees, contractors and stakeholders.

Operations at the Uitkomst Colliery

The South African Government directive dated 23 April 2020 provided for a phased, risk-based approach to reducing restrictions from level 5 to level 4 from 1 May 2020 (refer Company announcement dated 5 May 2020).

The Level 4 restrictions allowed the Company to restart operations at its high-grade Uitkomst metallurgical and thermal coal mine ("Uitkomst Colliery" or "Uitkomst") on 4 May 2020, subject to the following limitations:

1. Utilisation of 50% of that mine's labour capacity;

2. Adherence to detailed health and safety protocols; and

3. Introduction of workplace plans to enable disease surveillance at site and prevent the spread of infection.

The Company is pleased to report the Uitkomst Colliery has successfully ramped-up production to the stipulated 50% labour capacity level since recommencing operations.

The Company is also pleased to report strong customer demand for its products.

Effects of the Level 4 restrictions on MC Mining's other sites

Activities at the Company's Makhado, Vele and Greater Soutpansberg Projects will remain closed until the South African government eases restrictions further. The 'no work, no pay' policy for non-essential staff remains in place, although a portion of wages continues to be paid to affected staff by the Government's Temporary Employee/Employer Relief Scheme. Where practical, the work-from-home policy will remain in place for essential staff until there is a further easing of lockdown restrictions.

Loan facilities

The Company is in continuing negotiations with MC Mining Group financiers, including the Industrial Development Corporation of South Africa Limited, regarding drawdown from existing facilities, potential new finance facilities (refer Company announcement dated 5 May 2020) and deferment of repayment dates. The Company's request for deferment of principal repayments is to bring such repayments in line with the revised cash flow forecasts brought about by the Covid-19 restrictions. Discussions to date have been positive and while still not finalised, the Company expects a favourable outcome and will provide a further update once negotiations have been concluded.

Comment
Company CEO, Brenda Berlin: "I am very pleased with the smooth ramp-up to the 50% labour capacity level at the Uitkomst colliery and the continuing strong demand for its prod

Even more in common with you chester - we've lived in our house for over 41 years and because we have a double plot then we've had the space to have always grown vegetables. This year all seeds are now through and growing well - Runner Beans, Cabbage, Leeks, Beetroot, Carrots, Parsnips, and Potatoes. All the neighbours appreciate some of our fresh veg in season, and in return we get given home cooked cake, sponge, and scones etc. Talk about "the good life".

Hi chester,

I'm with you now as just ordered from same Masters of Malt also.
However, due to a bit of a sugar intolerance / syrupy doesn't always agree with me / so I have just had the last bottle (so it said) of "The Tarlogan"

We will be able to confirm day and time when that RNS 'lands' ……. to raise our glasses at the same time.

Shrews - Friday 15:26 - "There is something not quite right here but I cannot put my finger on it."

What hasn't helped, was that the companies own in-house Joint Broker, Berenberg, on the 1st May lowered their target price for the sp from 500p to 400p.

One reassuring factor is that both Phil Higgins and David Williams both dipped their hands in their pockets to the tune of £125,000 each participating in the placing - usually a good sign.

Well I think all those "new faces" that were allowed to participate in the recent placing at 240p will not be so pleased now. Maybe us small pi's should be happy we were not invited to participate !!

and the trade just in front of you of 122234 shares was mine at the same price 1.0949p

Now your talking chester, might just treat myself to a bottle of the same

Managed to Sell in ordinary a/c and Buy back in ISA a/c around 80K shares this afternoon. Bid / Ask spread + buy and sell fees cost me just under £23 in total so was relatively pleased with that. Tried to do the same again around 4-15pm with around 120K shares but HL. would not give me a l ive price to sell so had to abort that. Maybe too late in the day !!

Well done to all who had done their research, had belief, and bought when the share price was lower. Price just needs to double from here, and after waiting nearly 5 years, I will be back to somewhere about break even !!

Let's hope so Jantand - so many disappointments in the past with the share price only going in one direction, the wrong direction. We all had so much faith in David Brown thinking he was going to be our saviour, he worked hard to stop the rot and turn us around, but earlier this year it looked as though there was disagreement at Board level so he jumped ship when he couldn't get his own way by the sounds of things. At least yesterdays RNS has given us renewed hope.

I see the 'Ask' popped up to 11p straight after I added another 12500 shares this morning - not showing here as from the Contact Note, I see it went through on the NEX platform. Thought I would add after seeing the RNS where Brenda looks to be keeping to her word as best she can with 'Lockdown' affecting most companies at the moment. Dare I say it - is this the start of the share price recovery !! Let's hope so guys.

MC Mining Ltd said Tuesday its Uitkomst metallurgical and thermal coal mine in South Africa will see its production ramped up to 50% within the next 7 to 10 days.
Uitkomst was placed into care and maintenance due to the national lockdown in South Africa, but this has now been eased.
"During this period the colliery will assess the effects that the lockdown has had on critical suppliers while the coal off take market remains challenging due to the restrictions imposed on businesses. Uitkomst is in constant communication with its customers to ensure their requirements are met and the colliery is only expected to return to full operating capacity following further reductions in the national coronavirus alert assessments and once coal off-takes have normalised," MC Mining said.
The lockdown has also stopped production at the Makhado, Vele and Greater Soutpansberg projects, MC Mining noted.

Chief Executive Brenda Berlin said: "The move to lockdown level 4 facilitates Uitkomst resuming production of its high-grade coal, albeit at 50% of normal production. Safety of our people is critical and normalised operating activities at the Uitkomst Colliery and MC Mining's other sites will only resume when it is safe to do so and in line with Government regulations.
"Where possible, key activities for rest of the group will continue remotely in isolated, safe environments and we remain very mindful of the economic toll that the pandemic has on our employees and their families."
MC Mining said its available cash balance is USD1.1 million, but also has the USD6.5 million second tranche of the existing Industrial Development Corporation of South Africa Limited loan available for drawdown.
The company is also engaged in discussions with its lender group regarding drawdown from existing and potential new finance facilities. It also noted it continues to discuss with potential domestic and international capital-providers to secure the balance of funding required to commence development of Makhado Phase 1.

JHolder, I kept saying the same "just one more last top-up". Then had to have another "just one more last top-up". Now I find myself with 2.5 million more shares than I said I would hold !!