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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 tumbles as Vulcan Resources backs off from offer

March 12, 2024 at 06:08 am EDT

MC Mining Ltd - Canberra, Australia-based developer of coal mines across South Africa - Vulcan Resources Ltd will not proceed with making a formal offer for MC Mining. On Friday last week, the owner and operator of the Moatize coal mine in Mozambique proposed offering 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. The Vulcan proposal was higher than what was proposed by Goldway Capital Investments Ltd last month.

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

Current stock price in Sydney: AUD0.15, closed down 6.3% on Tuesday

12-month change: down 21%

Current stock price in London: 7.00 pence, down 15%

12-month change: down 30%

Current stock price in Johannesburg: ZAR1.80, down 14%

12-month change: down 8.2%

By Artwell Dlamini, 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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