MC Mining Limited
(Incorporated and registered in Australia)
Registration number ABN 98 008 905 388
ISIN: AU000000MCM9
JSE share code: MCZ ASX/AIM code: MCM
(“MC Mining” or “the Company”)

INTERIM REVIEWED FINANCIAL RESULTS FOR THE HALF-YEAR ENDED 31 DECEMBER 2023

All amounts are in US Dollars unless otherwise stated.

Salient features

       Revenue increased by 80% to $25.2 million from $14.0 million in the prior corresponding
        period

       Operating loss before interest of $5.2 million compared to a profit of $0.7 million in the prior
        corresponding period

       Loss per share from continuing operations and discontinued operations increased by 190% to
        $1.45 cents per share, from $0.50 cents per share in the prior corresponding period

       Headline loss per share increased by 190% to $1.45 cents per share from $0.50 cents per
        share in the prior corresponding period

       Net asset value decreased by 4% to $83.8 million from $87.4 million in the June 2023 period

       No dividend was declared for the half-year ended 31 December 2023 (FY2023 H1: Nil)

       Attention is drawn to the disclosure in the interim financial results on the going concern
        assumptions

Regulatory requirements
This short form announcement, which is the responsibility of MC Mining's directors, is only a summary
of information in the full announcement and does not contain full or complete details. Any investment
decisions by shareholders and/or investors should be based on consideration of the full
announcement.

The full announcement can be found at:
https://senspdf.jse.co.za/documents/2024/jse/isse/mcze/HY2024.pdf.

The full announcement is also available for viewing on the company's website at
https://www.mcmining.co.za/all-categories?task=download.send&id=1811:interim-results-2023 or a
copy may be requested in person, at the company's registered office or the office of the sponsor, at
no charge, during office hours. Copies of the full announcement may also be requested from the
Company’s group investor relations at investor@mcmining.co.za.

The information in this announcement has been extracted from the interim reviewed group financial
results for the half-year ended 31 December 2023, but the short-form announcement itself has not
been reviewed by the Company's auditors.

Mazars Assurance Pty Limited, the group's independent auditor, has reviewed the consolidated interim
financial statements of the group from which the abridged consolidated results contained in this report
have been derived, and has expressed an unmodified review opinion on the consolidated interim
financial statements but have drawn attention to a material uncertainty around the Going Concern.

15 March 2024

Sponsor
BSM Sponsors Proprietary Limited