MC Mining Limited (ASX:MCM) (MC Mining or the Company) referred to the Company's previous announcements regarding the receipt of a revised non-binding and indicative takeover offer (Takeover Offer) from Senosi Group Investment Holdings Proprietary Limited and Dendocept Proprietary Limited on behalf of shareholders who represent, in aggregate, 64.3%1 of the issued capital in the Company (together, the Consortium). As referred to in the Company's announcement made on 22 December 2023, the Consortium indicated that a Bidder's Statement was expected to be lodged in the first week of January 2024 and mailed to MC Mining shareholders in the last week of January 2024. On 23 January 2024 the Company received correspondence from the Consortium advising that the Consortium's previous indicative timetable for lodgement of a Bidder's Statement had been delayed.

The Consortium did not provide a revised timetable but did reconfirm its intention to make a takeover offer. At this stage, neither the Company nor the Independent Board Committee (IBC) are able to provide any further guidance on the expected timing of the receipt of the Bidders Statement. The IBC reiterates its recommendation that MC Mining shareholders TAKE NO ACTION in relation to the Takeover Offer (which, at this stage, remains non-binding and indicative only) pending a full review of the Bidder's Statement (when received) and a recommendation from the IBC which will be contained in the Company's Target Statement.