- Resources group MC Mining said businessman Pitso Madibo had agreed to acquire a 4.5% stake in the company through a share subscription.

Madibo would be issued around 7.8m MC Mining shares at R1.27 each, raising around R10.0m ($0.6m).

The funds would be used for general working capital requirements as well as progressing the company's flagship Makhado hard coking coal project Limpopo province, South Africa.

At 9:05am: [LON:MCM] MC Mining share price was +0.25p at 6p

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