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MC Mining Limited (ASX:MCM)

ALERT: Price-sensitive ASX Announcement for MCM
Current share price for MCM : $0.255 -0.015 (-5.56%)+
Announcement
Release
13 Aug 2026 5:23PM
Price at Release
$0.270
Full Release
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Summary
MC Mining Limited has announced securing a US$16 million capital support package through an unsecured bridge loan of US$8 million and an additional share subscription agreement with Kinetic Development Group Limited (KDG), which is the controlling shareholder holding 51% of MC Mining's shares. This financial arrangement is intended to provide immediate working capital to MC Mining in anticipation of a shareholder meeting required to approve the share subscription, which involves issuing new shares at US$0.2089 each. The capital raised will primarily be used to advance the Makhado Project and ensure the sustainability of MC Mining’s other operations.
Key Points
  • MC Mining Limited secured a US$8 million unsecured bridge loan from Kinetic Development Group Limited (KDG).
  • The loan provides immediate working capital before a shareholder meeting for share subscription approval.
  • KDG became the controlling shareholder of MC Mining, holding 51% of the shares.
  • The transaction includes a share subscription for US$16 million, to be subscribed in two tranches.
  • Shareholder approvals are necessary before KDG can be allotted any shares.
  • The proceeds will support the Makhado Project and other operations.
  • The issue price for the share subscription is US$0.2089 per share.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.