MC Mining Limited
       Previously Coal of Africa Limited
       (Incorporated and registered in Australia)
       Registration number ABN 008 905 388
       ISIN AU000000MCM9
       JSE share code: MCZ
       ASX/AIM code: MCM

       ANNOUNCEMENT                                                             24 January 2024

               UPDATE ON TIMING OF REVISED NON-BINDING AND INDICATIVE PROPOSAL –
                                  REITERATE: TAKE NO ACTION

MC Mining Limited (MC Mining or the Company) refers to the Company's previous announcements
regarding the receipt of a revised non-binding and indicative takeover offer (Takeover Offer) from
Senosi Group Investment Holdings Proprietary Limited and Dendocept Proprietary Limited on behalf
of shareholders who represent, in aggregate, 64.3%1 of the issued capital in the Company (together,
the Consortium).

As referred to in the Company's announcement made on 22 December 2023, the Consortium
indicated that a Bidder's Statement was expected to be lodged in the first week of January 2024 and
mailed to MC Mining shareholders in the last week of January 2024.

On 23 January 2024 the Company received correspondence from the Consortium advising that the
Consortium's previous indicative timetable for lodgement of a Bidder's Statement had been delayed.
The Consortium did not provide a revised timetable but did reconfirm its intention to make a takeover
offer.
At this stage, neither the Company nor the Independent Board Committee (IBC) are able to provide
any further guidance on the expected timing of the receipt of the Bidders Statement.

The IBC reiterates its recommendation that MC Mining shareholders TAKE NO ACTION in relation to
the Takeover Offer (which, at this stage, remains non-binding and indicative only) pending a full review
of the Bidder's Statement (when received) and a recommendation from the IBC which will be
contained in the Company's Target Statement.



Khomotso Mosehla
Chairman of the IBC

This announcement has been approved for release by the Company’s Disclosure Committee.
1 As at the date of this announcement, Senosi Group Investment Holdings Proprietary Limited holds 23.4% and Dendocept Proprietary
Limited holds 6.9% of the current issued capital of the Company.




    For more information contact:
    Tony Bevan                           Company Secretary             Endeavour Corporate                +61 8 9316 9100
                                                                       Services
    Company advisors:
    Richard Johnson / Rob                Nominated Adviser             Strand Hanson Limited              +44 20 7409 3494
    Patrick
    Rory Scott                           Broker (AIM)                  Tennyson Securities                +44 20 7186 9031

    Marion Brower                     Financial PR (South         R&A Strategic                           +27 11 880 3924
                                      Africa)                     Communications
    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 (steelmaking and thermal coal), Makhado Project (steelmaking hard
    coking coal), Vele Colliery (steelmaking semi-soft coking and thermal coal), and the Greater Soutpansberg Projects
    (steelmaking coking and thermal coal).