MC MINING LIMITED - R20 million loan facility agreed

R20 million loan facility agreed

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                                                                       

28 June 2024

R20 MILLION LOAN FACILITY AGREED


MC Mining Limited (MC Mining or the Company) is pleased to announce that it has entered into a R20
million (US$1.1 million) Loan Facility (the Facility) with Dendocept (Proprietary) Limited (Dendocept),
an approximately 6.8% shareholder in the Company. Proceeds from the Facility will be utilised to fund
group working capital.


The salient features of the Facility are:
•   Dendocept will advance up to R20 million to MC Mining's wholly owned subsidiary, GVM Metals
    Administration (South Africa) (Proprietary) Limited (GVM Admin), the group administration
    company in South Africa;
•   The Facility is available for a period of 12 months from first drawdown and must be repaid on or
    before the end of this period (Final Maturity Date);
•   Interest will be paid monthly calculated using the prevailing Investec (South Africa) Prime interest
    rate (currently 11.75%) plus a margin of 3%, similar to that levied on the current bank financing in
    the group;
•   the Facility is unsecured and is guaranteed by MC Mining.

The Facility does not incur any utilisation charges and can be cancelled prior to the Final Maturity Date
without penalty while the terms do not preclude potential equity financing arrangements, including
the issue of new equity for cash in the Company or its subsidiaries. Additional debt financing will
require the settlement of the Facility or the prior written approval of Dendocept.


Mathews Senosi, MC Mining's Interim Chairman commented:
"The Facility reflects the continued shareholder commitment to support MC Mining following the
recent takeover corporate action. The Facility will contribute towards general working capital as well
as group overheads. The Company is assessing its corporate and Limpopo project operational and
overhead costs and the resources needed to advance the Company's collieries, development and
exploration projects, including the shovel ready, flagship Makhado steelmaking hard coking coal
project."


Mathews Senosi
Interim Chairman
This announcement has been approved by the Company's Disclosure Committee.

 For more information contact:
 Bill Pavlovski         Company                Vision Corporate (Pty)         bill.pavlovski@mcmining.co.za
                        Secretary              Ltd
 Company advisers:
 Marion Brower          Financial PR           R&A Strategic                  +27 11 880 3924
                        (South Africa)         Communications

 BSM Sponsors Proprietary Limited is the nominated JSE Sponsor

About MC Mining Limited:
MC Mining is an 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
(steelmaking hard coking coal), Vele Colliery (steelmaking semi-soft coking and thermal coal), and the Greater
Soutpansberg Projects (steelmaking coking and thermal coal).

Date: 28-06-2024 03:15:00
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