ASX halts trading in MC Mining ordinary shares
Emerging coal miner MC Mining on September 8 announced that, following recent share price movements, its ordinary shares have been placed in a trading halt on the ASX.
The company said it was not aware of any reason for the recent share price movement and that its shares would continue to trade on JSE and the Aim market of the LSE.
As previously reported, MC Mining continued to advance the funding processes for its Makhado hard coking coal project, in Limpopo. The funding is expected to include a combination of debt and equity to be issued by the company.
The equity portion of the potential fundraise is likely to be undertaken at a discount to the company’s current share price and subject to prevailing market conditions. MC Mining said that there could be no guarantee that a capital raising would be completed.
The company said it would apply for its shares to continue trading on the ASX on September 12.
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