4 Sept 2026other● Neutral
S&P Dow Jones index notice: MC Mining is added to the All Ordinaries index effective 21 September 2026. This is an index provider announcement, not a company event, and carries no new company information.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
13 Aug 2026admin correction● Neutral
Corrects the signing date of the Kinetic bridge loan and share subscription agreements to 13 August 2026, not 12 August. The company states all other terms are unchanged.
13 Aug 2026capital raising announcement● NeutralMajor
Kinetic will provide up to US$16m: an US$8m unsecured bridge loan, then a share subscription of US$16m at US$0.2089 in two tranches (76.6m shares). The first tranche is settled by setting off the loan. Shareholder approval is required. Adds to the earlier convertible notes.
31 July 2026quarterly activities report● Neutral
June quarter 2026: Makhado plant reached C3 commissioning on 22 May, with full commissioning planned for August. Notes drawn: US$1.9m from Eagle Canyon and US$3.89m from Kinetic. Cash was US$2.9m. A binding offer for suspended Uitkomst has been received, with no decision yet.
28 July 2026director officer appointment● NeutralMajor
Christine He resigned as CEO and Managing Director from 29 July 2026 and stays as a non-executive director. Chairman Albert Deng becomes interim CEO without extra pay until a permanent CEO is found. The text says the Kinetic investment and Makhado commissioning made it the right time.
30 June 2026security holder rights change● Neutral
47,879,095 Kinetic-subscription shares will be released from voluntary escrow on 7 July 2026. They are already quoted, so issued capital is unchanged.
11 June 2026debt financing● NeutralMajor
MC Mining agreed US$9.94m of unsecured convertible notes with Kinetic (US$6.136m) and Eagle Canyon (US$3.8m) to fund Makhado and working capital. Notes convert at US$0.2089 a share and mature 12 months after funding. Shareholder approval is needed for conversion.
20 May 2026director officer appointment● NeutralMajor
Kinetic-linked director Albert Deng became Non-Executive Chairman from 19 May 2026, replacing interim chairman Mathews Senosi, who stays on the board. This ends the interim chair arrangement and consolidates Kinetic's board control after the 51% completion.
5 May 2026farm in farm out completion▲ GoodMajor
The final Kinetic instalment was issued on 22 April 2026 (28,868,277 shares), taking Kinetic to 51% and control. The full US$90m has been received. This completes the subscription agreed in August 2024, and MC Mining is now a Kinetic subsidiary.
30 Apr 2026quarterly activities report● Neutral
March quarter 2026: Kinetic paid US$19m and cash rose to US$5.4m. Makhado plant start-up slipped again to May 2026, blamed on weather and power line delays. Uitkomst is now suspended, with strategic options under review. A further US$6m in April took Kinetic to 51%.
24 Apr 2026security holder rights change● Neutral
23,939,547 shares from the Kinetic subscription will be released from voluntary escrow on 1 May 2026. They are already quoted, so issued capital does not change.
13 Mar 2026half year report▼ Bad
Half-year to 31 Dec 2025: loss US$8.1m (1.22 cents a share) and revenue down 22% to US$6.6m on lower Uitkomst sales. Cash was US$2.9m; IDC loan balance US$10.9m. Kinetic reached 47.42% after the 12 March 2026 share issue. Repeats the Uitkomst hibernation.
13 Mar 2026half year report▼ Bad
Half-year to 31 December 2025: Uitkomst ROM output fell 24% to 140,121t, with a US$3.9m gross loss, leading to the decision to hibernate it from 1 March 2026. Makhado hot commissioning is now targeted for April 2026. Vele remains suspended.
6 Mar 2026security holder rights change● Neutral
95,758,190 shares issued under the Kinetic subscription deal will be released from voluntary escrow on 13 March 2026. Issued capital does not change.
24 Feb 2026regulatory community update● Neutral
Kinetic now holds about 44.01% after the sixth second-closing tranche; further issues depend on conditions precedent. Makhado coal plant construction is targeted for end-March 2026 and hot commissioning for April 2026. Steady-state output is planned by end-2026.
2 Feb 2026asset acquisition disposition▼ BadMajor
The board approved in principle putting Uitkomst Colliery into temporary suspension (hibernation) from 1 March 2026, citing continued underperformance and cash losses despite the 2025 turnaround plan. It is not closure or liquidation. This ends the turnaround effort and leaves Makhado as the focus.
30 Jan 2026quarterly activities report▼ Bad
December quarter: Kinetic paid US$7m (sixth second-closing instalment), but cash and facilities fell to US$2.9m. Makhado hot commissioning slipped to March 2026. Uitkomst output fell 40% year on year to 57,606t; the turnaround plan did not lift production.
31 Oct 2025quarterly activities report● Neutral
September quarter: Kinetic paid US$15m toward the second closing, and cash and facilities rose to US$13.1m. Makhado coal plant commissioning is expected from December 2025 despite some construction delays. Uitkomst output fell 8% year on year to 82,588t.
22 Oct 2025price query● Neutral
ASX queried a rise from A$0.13 to an intraday high of A$0.255. The company said it knew of no undisclosed information and suggested thin liquidity, with market buy orders moving the price, as a possible explanation.
13 Oct 2025director officer appointment● Neutral
Brian He resigned as a director from 15 October 2025, after joining in April 2018. Jianheng (Albert) Deng, a Kinetic-linked executive, was appointed in his place. The board continues to shift towards Kinetic.
30 Sept 2025annual report▼ BadMajor
FY2025 loss rose 147% to US$36m, including US$24.3m net impairments (Uitkomst US$12.3m, GSP US$12m). Revenue fell 52% to US$17.5m; year-end cash was US$7.4m. The text draws attention to going-concern disclosures. Makhado targets first coal in Q1 2026.
29 Sept 2025annual report● Neutral
Annual financial statements for the year to 30 June 2025, with the directors' report, auditor's report and resource and reserve statement. Only the opening pages were readable here; the results are covered in the separate results announcement.
29 Sept 2025other● Neutral
Appendix 4G and corporate governance statement for FY2025, confirming the governance statement is current at 29 September 2025 and available on the website. Administrative filing with no new substance.
25 Sept 2025director officer appointment▲ GoodMajor
Christine He becomes permanent Managing Director and CEO from 1 October 2025, after serving as interim since 1 July 2024. Starting pay is ZAR3.5m a year plus a bonus of up to 200%. This resolves the open question of a permanent CEO.
25 Aug 2025security holder rights change● Neutral
62,102,002 shares held by Kinetic's designee, issued under the August 2024 subscription deal, were released from voluntary escrow from 1 September 2025. Issued capital is unchanged.
15 Aug 2025production update▲ GoodMajor
Open pit mining has begun at Makhado, with contractor JCI Mining established and the coal plant under construction for commissioning by end-2025. Steady-state plan is 4Mtpa run-of-mine for 880,000t a year of hard coking coal over a 14-year pit life. This is the first mining at the flagship project.
31 July 2025quarterly activities report● Neutral
June quarter: Kinetic paid US$10m, and cash and facilities were US$7.4m. Uitkomst output was 104,129t, 9% lower than a year earlier. Makhado is on schedule for coal plant commissioning by December 2025, with the main mining contractor on site.
15 July 2025other● NeutralMajor
Uitkomst began a turnaround plan with consultancy MTE: reconfigured mining layouts, plant changes to lift yields, workforce cut from 430 to 366, and longer-term offtake deals. It follows the 2024 fatality and production falls, and aims to focus resources on Makhado.
30 Apr 2025quarterly activities report▲ Good
March quarter: Kinetic paid US$20m toward the second closing, and cash and facilities rose to US$9m. The company repaid ZAR110m to the IDC in total, including the ZAR10m extension payment. Makhado's coal plant construction started, with commissioning targeted for December 2025. Uitkomst had four lost-time injuries.
14 Apr 2025director officer appointment● Neutral
Kinetic-linked Lanlan Wang (Kinetic's CFO) and Dr Huoxin Wang (Eagle Canyon) joined the board from 15 April 2025, while An Chee Sin resigned. Board composition shifts further towards Kinetic as its investment proceeds.