MC Mining Ltd (AU:MCM) has released an update.
MC Mining Limited is set for a significant expansion as Kinetic Development Group (KDG) commits to a $90 million investment, acquiring a 51% stake in the company. This influx of capital will propel MC Mining’s Makhado project and other initiatives in the Limpopo Province into production. The investment will take place in two phases, with the initial tranche of approximately $13 million securing a 13.04% stake, followed by the remainder pending shareholder and regulatory approvals.
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