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Non-binding and indicative proposal from Vulcan Resources will not proceed

Published: 2024-03-12 10:00:21 ET

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                                                                       12 March 2024


     NON-BINDING AND INDICATIVE PROPOSAL FROM VULCAN RESOURCES WILL NOT
                                   PROCEED
MC Mining Limited (MCM or the Company) refers to its announcement dated 8 March 2024 regarding
a non-binding indicative proposal from Vulcan Resources, a private Indian company and subsidiary of
Vulcan International (Vulcan).

The Company advises that on Tuesday, 12 March 2024, the Company received correspondence from
Vulcan advising that Vulcan has concluded that it would not be proceeding with a formal offer.

Vulcan's intention not to proceed does not alter the Independent Board Committee's current
recommendation to Shareholders NOT TO ACCEPT the Goldway Capital Investment Limited Offer.

As announced on 4 March 2024, the Independent Board Committee reminds Shareholders that a
Supplementary Target's Statement accompanied by an independent expert report will be lodged by
the Company on 18 March 2024.

Khomotso Mosehla
Chairman of the IBC

The information contained within this announcement is deemed by the Company to constitute inside
information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United
Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended.

This announcement has been approved for release by the Company’s Disclosure Committee.


For more information contact:
      Tony Bevan                    Company                  Endeavour                   +61 42 1072
                                    Secretary                Corporate Services          165
      Company advisers:
      Richard Johnson / Rob         Nominated                Strand Hanson               +44 20 7409
      Patrick                       Adviser                  Limited                     3494
       Rory Scott                      Broker (AIM)            Tennyson                        +44 20 7186
                                                               Securities                      9031
       Marion Brower                 Financial PR              R&A Strategic                   +27 11 880
                                     (South Africa)            Communications                  3924
       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).




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329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

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All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.