MC Mining Limited is an Australia-based coal mining company. It is engaged in the acquisition, exploration, development and operation of metallurgical and thermal coal projects in South Africa. The Company operates through three segments: exploration, development and mining.
The met coal price has been very strong recently and I think the market is yet to pick up on this one…
They do carry a chunk of debt which doesn’t make them as appealing in my opinion, but given they have exposure to both thermal and met coal it’s no surprise there’s a lot of interest in them at the moment.
In all honesty, it doesn’t seem like adding new stocks to Freetrade has been a priority in the last few months (regardless of the amount of interest), just look at the interest in CTL since May - very disappointing.
Last i seen they have fallen behind a little in getting their mine up and running.
Be interesting to watch this one, there’s a new steel plant opening which folks seem to be pegging will be supplied by Contango, plant looks to be virtually right in the middle between Contango’s mine and MC’s mine.
Of course nothing saying they can’t offtake from both, and if it’s as big as it’s supposed to be it might have to but i think the plant opens next year and by then Contango should hopfully be running smoothly by then. Mc may have to do a bit of catching up.