Past year: ▲ 19%(20.0c – 32.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
17 Apr 2019regulatory community update▲ GoodMajor
Appeals against the Makhado environmental authorisation amendment, suspended since October 2018, were dismissed, so the amendment allowing road transport of coal to Musina to Musina is now effective. This resolves an open permitting thread for Phase 1.
16 Apr 2019material agreement▲ GoodMajor
MC Mining signed a sale agreement with one of the world's largest bulk commodity producers and marketers (unnamed) for Makhado Phase 1 export thermal coal, up to 0.57Mtpa. This meets the thermal offtake condition set in March. Prices are API4-linked; the agreement has standard conditions precedent.
29 Mar 2019director officer appointment● Neutral
Sam Randazzo, a chartered accountant with over 25 years in mining, joined the board as an independent non-executive director from 29 March 2019. The chairman says this gives the board a majority of independent directors.
27 Mar 2019resource reserve update● Neutral
Clarifies the Phase 1 plan: Phase 2 follows the 2017 Makhado Lite plan (4Mtpa) around 2022. Reserves are unchanged at 172.757Mt ROM, with the west pit's 23.1Mt supporting nine years of Phase 1. Measured resources total 344.8Mt mineable.
14 Mar 2019half year report● Neutral
Half-year to December 2018: loss $3.6m versus $97.3m a year earlier. Cash fell to $5.5m from $10.9m, mostly from $3.2m paid for Lukin and Salaita. Uitkomst sold 163,487t at an average $88.91/t, up 61%.
14 Mar 2019half year report● Neutral
Full half-year financial report to 31 December 2018. Uitkomst revenue was $15.2m with gross profit $2.9m, and it became owner-operated with about 340 staff transferred. Repeats the results announcement of the same day.
14 Mar 2019other▲ GoodMajor
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14 Mar 2019investor presentation● Neutral
Half-year results presentation. Only the disclaimer is readable; no results figures could be extracted.
25 Jan 2019quarterly activities report● Neutral
Text not readable.
14 Jan 2019asset acquisition disposition▲ GoodMajor
Announcement titled as completion of the purchase of the key Makhado surface rights. Body text is empty. The half-year report later confirms the Lukin and Salaita properties transferred to Baobab in January 2019, as the November agreement anticipated.
14 Dec 2018other● Neutral
The company updated its share dealing code for key management to incorporate the European Market Abuse Regulation. Policy housekeeping with no effect on operations or finances.
11 Dec 2018regulatory community update▲ GoodMajor
The DMR granted a mining right for the 74%-owned Chapudi project, the first of three Greater Soutpansberg applications lodged in 2013. Chapudi holds over 6.3 billion gross tonnes of inferred coal resource. Mopane and Generaal rights are expected soon.
15 Nov 2018asset acquisition disposition▲ GoodMajor
Baobab agreed to buy the Lukin and Salaita properties for R70m (US$4.8m), in two R35m tranches, with completion expected early January 2019. This resolves the land access blocker holding up Makhado; the first tranche will be paid from internal cash flows.
8 Nov 2018debt financing▲ Good
Uitkomst, now 70% owned, secured a R20m (about $1.4m) ABSA working capital facility at prime plus 1%, on top of the R20m Rand Merchant Bank facility from June. It also moved to owner-operated mining in August 2018, taking on about 340 contractor staff.
31 Oct 2018quarterly activities report● Neutral
Text not readable.
30 Oct 2018contract award▲ GoodMajor
Announcement titled as the first Makhado off-take agreement secured. The body text is empty, so no terms or volumes can be given here. Later announcements describe it as a hard coking coal deal with Huadong Coal Trading Center for up to 450,000t a year.
24 Oct 2018annual report● Neutral
2018 Integrated Report. Highlights include Uitkomst acquired for $6.4m, Uitkomst revenue $32.7m, and Mooiplaats sold for $12.9m. Resource figures: Makhado 344.8Mt, Vele 25.4Mt mineable in situ. Vision: premier South African hard coking coal producer.
24 Oct 2018agm notice● Neutral
The 2018 annual report and notice of meeting have been posted. The AGM is on 23 November 2018 at 10am London time.
24 Oct 2018admin correction● Neutral
Appendix 4G confirming the corporate governance statement sits on pages 37 to 46 of the annual report, approved by the board as at 24 October 2018. Administrative filing with no new business information.
1 Oct 2018regulatory community update▼ Bad
The same interest group that lost its earlier appeal has appealed the 3 September amendment allowing Makhado coal to go by road to the Musina rail siding. The appeal suspends that amendment while the company seeks dismissal.
27 Sept 2018investor presentation● Neutral
FY18 results presentation. Only the disclaimer is readable; no results figures could be extracted.
27 Sept 2018annual report● Neutral
Text not readable.
27 Sept 2018annual report● Neutral
Audited accounts for the year to 30 June 2018. Visible text covers only the directors' report and board biographies, including Brenda Berlin as CFO from 24 April 2018. Financial figures were truncated and not readable.
2 Aug 2018other● Neutral
Text not readable. The title indicates Uitkomst is moving to an owner-operated colliery, but no details are available.
26 July 2018quarterly activities report● Neutral
June 2018 quarter cash flow: receipts $6.7m, operating outflow $0.5m, cash down to $10.9m from $11.7m. About $8.7m of the IDC facility remains available. Estimated outflows next quarter $10.5m.
26 July 2018quarterly activities report● Neutral
Text not readable.
18 June 2018regulatory community update▲ GoodMajor
The High Court discharged the December 2014 interim interdict against Makhado's environmental authorisation and refused to extend it to the subsidiary Baobab, with costs against the applicants. Makhado still needs access to two properties under land claims before construction; financing talks are said to be progressing.
26 Apr 2018director officer appointment● Neutral
Non-executive director Rudolph Torlage, ArcelorMittal SA's nominee, resigned immediately after leaving AMSA. This is a board departure only; no replacement is named.
26 Apr 2018quarterly activities report● Neutral
March quarter: Uitkomst's BEE deal terms were finalised, with documentation done in early April, making it Mining Charter compliant. Uitkomst output fell 18% to 115,750t and sales halved to 70,627t. Cash $11.7m. Brenda Berlin and two new non-executives joined the board.
26 Apr 2018quarterly activities report● Neutral
March 2018 quarter cash flow: receipts $10.7m, operating inflow $2.1m, cash up to $11.7m from $9.7m. IDC facility still has about $10.1m available to draw. Estimated outflows next quarter $9.7m.
