Junior coal miner MC Mining, which holds coal mining assets in SA, has doubled down on its call to shareholders to reject a proposed buyout offer by a consortium of investors, saying it was “opportunistically timed to deprive [shareholders] of future potential value” of the group’s assets.

In a target’s statement published by MC Mining on Monday, which followed a preliminary view published in mid-February advising shareholders to not accept the offer, the independent board committee provided further arguments outlining why they believed the offer undervalued the potential of the group’s assets...

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