MC Mining, formerly known as "Coal of Africa," is a modestly sized company focused on metallurgical coal mining, with Uitkomst as its only producing mine. Besides Uitkomst, the company is actively developing several projects, including the Makhado project, the Vele colliery, and MbeuYashu, showcasing its commitment to growth within the sector.
The Makhado...
MC Mining (previously "Coal of Africa") (MCZ) operates as a small metallurgical coal-mining company primarily focused on its single producing mine, Uitkomst. In addition to Uitkomst, the company is actively developing several projects including the Makhado project, the Vele colliery, and MbeuYashu. Among these, the Makhado project stands out as the flagship...
MC Mining, previously known as "Coal of Africa" (MCZ), is a relatively small metallurgical coal-mining company with a single active mine, Uitkomst. In addition to Uitkomst, the company is actively engaged in the development of several projects, including the Makhado project, the Vele colliery, and MbeuYashu. The Makhado project holds a significant position as the...
MC Mining (previously "Coal of Africa") (MCZ) is a small metallurgical coal-mining company with a single producing mine (Uitkomst). Aside from Uitkomst, the company is developing the Makhado project, the Vele colliery and MbeuYashu. The Makhado project is the company's flagship operation in the Limpopo province. It is an opencast mine with a life of 16 years and...
MC Mining (previously "Coal of Africa") (MCZ) is a small metallurgical coal-mining company with a single producing mine (Uitkomst). Aside from Uitkomst, the company is developing the Makhado project, the Vele colliery and MbeuYashu. The Makhado project is the company's flagship operation in the Limpopo province. It is an opencast mine with a life of 16 years and...
Potential for a retest of ~650-700c.
After a month and 0.5 retracement in Nov-22, has shown a strong and relatively quick recovery, gaining back ~90% since Nov-22.
Trade volumes in Jan are on the rise, as of today 24-Jan, consecutive monthly higher high / lows Since Nov-22.
To monitor monthly close preferably keeping on / above ~390 levels
Keep watch on macro...
MC Mining tested the highs > R7.40 and selling pressure and supply kicked in strongly.
It looks like the price is heading back to R1.25.
Sorry for the investors who are long, I'm just basing it on Technical analysis...
And I hope I'm wrong.
MCZ has been oscillating between low and high resistances of 109 and 204 since local lockdown sell-offs.
Its about to make a move to possibly test 109 level again. If breakout occurs then next resistance is at 169, after that 204
