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MC Mining Ltd - coal miner focused on South Africa - Announces that subsidiary Baobab Mining & Exploration Pty Ltd has paid final instalment of R 35 million for the the Lukin and Salaita properties, which make up the Makhado hard coking coal project in South Africa.
‘Payment of the final instalment of R 35 million and the release of security over key surface rights for the Makhado Project is a significant breakthrough for MC Mining,’ company says.
Company adds it is well placed and in the ‘best position it has been for several years’ to finalise the funding package required to develop the Makhado project.
Current Johannesburg stock price: R 1.04
12-month change: down 33%
Current London stock price: 4.46 pence
12-month change: down 41%
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