Enhanced Investments - Financial Portal

Resignation of Independent Non-Executive Chairman

Published: 2024-04-25 16:25:31 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                                                                        25 April 2024

                    RESIGNATION OF INDEPENDENT NON-EXECUTIVE CHAIRMAN

MC Mining Limited (MC Mining or the Company) announces that Mr Nhlanhla Nene will step down as
Director and Chairman of the Board, effective today, 25 April 2024. Mr Nene joined the Company on
11 April 2022, initially serving as a Non-Executive Director and then as Chairman from 28 April 2022.


At the time of his appointment, MC Mining was facing challenging operating and funding conditions
following the COVID-19 pandemic. The Company subsequently completed a fully underwritten rights
issue in November 2022, facilitating the revitalization of the Makhado steelmaking hard coking coal
project and a revision of its development strategy, significantly enhancing the value of the project for
all stakeholders.


Managing Director and Chief Executive Officer, Godfrey Gomwe, said: “MC Mining and the board
express their sincere appreciation to Mr Nene for his role in advancing the Company and its
steelmaking coal assets. MC Mining is now on a more stable footing with clear development plans for
its large coal resource base and we wish him every success in his future endeavors.”


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

       For more information contact:
       Tony Bevan                 Company                   Endeavour Corporate            +61 42
                                  Secretary                 Services                       1072 165
       Company advisers:
       Richard Johnson /          Nominated                 Strand Hanson Limited          +44 20
       Rob Patrick                Adviser                                                  7409 3494
        Rory Scott                   Broker (AIM)                Tennyson Securities              +44 20
                                                                                                  7186 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).




                                                                                                               2

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

Important disclosures

Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
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.

Nothing on this website should be considered an offer, solicitation of an offer, or advice to buy or sell securities.
Past performance is no guarantee of future results. Any historical returns, expected returns [or probability projections] are hypothetical in nature and may not reflect actual future performance.
All the strategies assume investments in equity invstrumenta only and are more relevant for "agressive investment profile". Eastern European flagship strategy assumes using up to 20% leverage of total portfolio. GlobalCommodities and US Growth strategy currently assume no leverage.
Results for the Enhanced Investments strategies as compared to the performance of Illustrative Benchmarks is for informational purposes only. Our investment program does not mirror that of the Illustrative Benchmarks and the volatility may be materially different from the volatility of Illustrative Benchmarks. Reference or comparison to an Illustrative Benchmark does not imply that strategies of Enhanced Investments will be constructed in the same way as the Illustrative Benchmark or achieve returns, volatility, or other results similar to those of the Illustrative Benchmark. The S&P 500 is an unmanaged market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance.
Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
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.