MC Mining Limited Appointment of Interim CEO (8680O)
February 12 2021 - 1:00AM
UK Regulatory
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RNS Number : 8680O
MC Mining Limited
12 February 2021
ANNOUNCEMENT 12 February 2021
APPOINTMENT OF INTERIM CHIEF EXECUTIVE OFFICER
MC Mining Limited ("MC Mining" or the "Company") confirms that,
further to its announcement of 7 December 2020, the recruitment
process for a replacement permanent Chief Executive Officer ("CEO")
is at an advanced stage and the Company anticipates making a
further announcement in due course. The outgoing acting CEO, Ms
Brenda Berlin, will step down on 15 February 2021 and Mr Sam
Randazzo, a non-executive director of MC Mining will serve as
interim CEO while the recruitment process is finalised. Ms Berlin
has worked closely with Mr Randazzo, facilitating an orderly
handover and her departure is not expected to impact the
finalisation of the funding for the Company's flagship, fully
permitted Makhado hard coking coal project ("Makhado") nor the day
to day running of the Group's operating mine, the Uitkomst
Colliery.
Mr Randazzo is chairman of the Company's Audit & Risk
Committee and a member of the Nomination & Remuneration
Committee and is a member of Chartered Accountants Australia and
New Zealand. He has over 25 years' experience in the mining
industry and has completed numerous capital-raisings. Mr Randazzo
has extensive public company exposure as well as operational
management experience across a variety of projects in Africa and
the rest of the globe. This includes roles as chief executive
officer, chief financial officer, chairman and directorship
positions of ASX-, TSX- and AIM-listed mineral resource
companies.
Commenting today, MC Mining Chairman Bernard Pryor said: "O n
behalf of the Board I would like to thank Mr Randazzo for agreeing
to serve as interim CEO. Sam brings a wealth of mining, commercial
and financing expertise that will be valuable to the Company as we
complete the Makhado Phase 1 funding. The process to recruit a
permanent CEO is at an advanced stage and the board anticipates
that this will be completed in the near future."
Authorised by
Bernard Pryor
Chairman
This announcement has been approved by the Company's Disclosure
Committee.
This announcement is inside information for the purposes of
Article 7 of Regulation 596/2014.
For more information contact:
Tony Bevan Company Secretary Endeavour Corporate Services +61 08 9316 9100
Company advisors:
James Harris / James Dance Nominated Adviser Strand Hanson Limited +44 20 7409 3494
Rory Scott Broker (AIM) Tennyson Securities +44 20 7186 9031
James Duncan Financial PR (South Africa) R&A Strategic Communications +27 11 880 3924
Investec Bank Limited is the nominated JSE Sponsor
About MC Mining Limited:
MC Mining is an AIM/ASX/JSE-listed coal exploration, development
and mining company operating in South Africa. MC Mining's key
projects include the Uitkomst Colliery (metallurgical and thermal
coal), Makhado Project (hard coking coal). Vele Colliery (semi-soft
coking and thermal coal), and the Greater Soutpansberg Projects
(coking and thermal coal).
Forward-looking statements
This Announcement, including information included or
incorporated by reference in this Announcement, may contain
"forward-looking statements" concerning MC Mining that are subject
to risks and uncertainties. Generally, the words "will", "may",
"should", "continue", "believes", "expects", "intends",
"anticipates" or similar expressions identify forward-looking
statements. These forward-looking statements involve risks and
uncertainties that could cause actual results to differ materially
from those expressed in the forward-looking statements. Many of
these risks and uncertainties relate to factors that are beyond MC
Mining's ability to control or estimate precisely, such as future
market conditions, changes in regulatory environment and the
behaviour of other market participants. MC Mining cannot give any
assurance that such forward-looking statements will prove to have
been correct. The reader is cautioned not to place undue reliance
on these forward-looking statements. MC Mining assumes no
obligation and does not undertake any obligation to update or
revise publicly any of the forward-looking statements set out
herein, whether as a result of new information, future events or
otherwise, except to the extent legally required.
Statements of intention
Statements of intention are statements of current intentions
only, which may change as new information becomes available or
circumstances change.
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