Silver

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XAGUSD

Delayed 05:00:01 2024-04-26 pm EDT			5-day change	1st Jan Change
27.2 ^USD	-0.52%		-5.11%	+14.40%

Apr. 26	Alphabet, Microsoft Rallies Help Lift Equities Ahead of Next Week's Fed Decision	MT
Apr. 26	Alphabet, Microsoft Rallies Help Lift Equities Ahead of Next Week's Fed Decision	MT

MC Mining receives more enticing takeover offer from Vulcan

March 08, 2024 at 07:58 am EST

MC Mining Ltd - Canberra, Australia-based developer of coal mines across South Africa - Receives a takeover proposal from Vulcan Resources Ltd, owner and operator of the Moatize coal mine in Mozambique. Vulcan offers between AUD0.17 and AUD.20 per MC Mining share, valuing it at between AUD69.34 million and AUD81.58 million, around GBP35.9 million to GBP42.2 million. MC Mining says the Vulcan proposal does not constitute a formal offer, but it notes that the takeover price is higher than that proposed by Goldway Capital Investments Ltd last month.

On Monday, MC Mining urged its stakeholders to reject the February takeover bid from Goldway, which offered AUD0.16 for each MC Mining share, valuing the company at AUD65.3 million.

Current stock price: closed flat at 0.14 Australian cents in Sydney, up 10% at 7.99 pence in London, up 7.2% at ZAR1.94 in Johannesburg on Friday

12-month change: down 23% in London

By Hugh Cameron, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Stocks mentioned in the article

Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
GOLD	2,338 USD	+0.31%	-2.25%	-
DOW JONES SOUTH AFRICA(ZAR)	1,962 PTS	+1.81%	+2.47%	-
S&P GSCI GOLD INDEX	1,367 PTS	+0.20%	-2.12%	-
DOW JONES AFRICA TITANS 50 INDEX	462 PTS	+1.81%	+1.69%	-
S&P AFRICA 40 INDEX	157.6 PTS	+3.21%	+3.26%	-
SILVER	27.2 USD	-0.52%	-5.11%	-
MC MINING LIMITED	0.16 AUD	0.00%	0.00%	42.56M

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