MC MINING LIMITED - Reviewed Financial Results for the half-year ended 31 December 2020

Reviewed Financial Results for the half-year ended 31 December 2020

MC Mining Limited
(Incorporated and registered in Australia)
Registration number ABN 98 008 905 388
ISIN: AU000000MCM9
JSE share code: MCZ ASX/AIM code: MCM
(“MC Mining” or “the Company”)


REVIEWED FINANCIAL RESULTS FOR THE HALF-YEAR ENDED 31 DECEMBER 2020

All amounts are in US Dollars unless otherwise stated

Salient features

Revenue decreased by 23% to $8.8 million from $11.4 million in the prior corresponding period.

Operating loss before interest decreased by 61% to $2.3 million from the $5.9 million in the prior
corresponding period.

Loss per share from continuing operations decreased by 64% to 1.80 cents per share, from 4.95
cents per share in the prior corresponding period.

Headline loss per share decreased by 55% to 1.91 cents per share from 4.25 cents per share in the
prior corresponding period.

Net asset value increased by 15% to $114.3 million from $98.9 million in the prior corresponding
period.

No dividend was declared by MC Mining for the half-year ended 31 December 2020 (half-year 2019:
Nil)

Attention is drawn to the disclosure in the annual financial statements on the going concern
assumptions.

The attached interim financial statements for the half-year ended 31 December 2020 contains an
independent auditor’s review report which includes an emphasis of matter paragraph with regards
to the existence of a material uncertainty that may cast significant doubt about the Group’s ability to
continue as a going concern.

The directors have prepared a cash flow forecast for the twelve-month period ended 31 March
2022, taking into account available facilities, additional funding that is expected to be raised and
expected cash flows to be generated by Uitkomst, which indicates that the Group will have sufficient
cash to fund their operations for at least the twelve-month period from the date of signing this
report.

Regulatory requirements

This short form announcement, which is the responsibility of MC Mining's directors, is only a
summary of information in the full announcement and does not contain full or complete details. Any
investment decisions by shareholders and/or investors should be based on consideration of the full
announcement.
The full announcement can be found at:
https://senspdf.jse.co.za/documents/2021/JSE/ISSE/MCZE/HY2021.pdf.

The full announcement is also available for viewing on the company's website at
https://www.mcmining.co.za/component/jdownloads/send/99-2021/1634-fy20h1results or a copy
may be requested in person, at the company's registered office or the office of the sponsor, at no
charge, during office hours. Copies of the full announcement may also be requested from the
Company’s group investor relations at investor@mcmining.co.za.

The information in this announcement has been extracted from the reviewed Interim Group
financial results for the half-year ended 31 December 2020, but the short-form announcement itself
has not been reviewed by the Company's auditors.

15 March 2021

Sponsor
Investec Bank Limited

Date: 15-03-2021 11:06:00
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