InvestSMART

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 6:47PM
Price at Release
$0.270
Full Release
download
Summary
MC Mining Limited announced corrections to a previous announcement regarding a Loan Agreement and Share Subscription Agreement with Kinetic Development Group Limited (KDG). The agreements, initially dated incorrectly, were entered into on 13 August 2026. The transaction involves a US$8 million unsecured bridge loan and a US$16 million share subscription in two tranches. The bridge loan provides immediate capital for working capital needs and project development, particularly for the Makhado Project. The share issue requires approval from shareholders and regulatory bodies. The agreements maintain the same key financial terms, and shareholder meetings will be convened to discuss the necessary approvals.
Key Points
  • Correction to the announcement date of agreements.
  • US$8 million bridge loan from Kinetic Development Group.
  • US$16 million share subscription agreement in two tranches.
  • Immediate working capital for MC Mining.
  • Key projects include the Makhado Project.
  • Shareholder and regulatory approvals required.
  • No change in key financial terms.
  • Inconvenience for incorrect date acknowledged.
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.