25 Apr 2024 14:00
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 |
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Company advisers: |
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Richard Johnson / Rob Patrick | Nominated Adviser | Strand Hanson Limited
| +44 20 7409 3494 |
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Rory Scott | Broker (AIM) | Tennyson Securities | +44 20 7186 9031 |
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Marion Brower | Financial PR (South Africa) | R&A Strategic Communications | +27 11 880 3924 |
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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).