Goldway Capital launched an off-market takeover bid to acquire all ordinary shares in MC Mining, with the offer price set at 16 cents per MCM share.

The proposed acquisition aims to address ongoing financial challenges and provides MCM shareholders with a cash exit strategy.

The offer is open to shareholders in Australia, South Africa, and the UK. It is contingent on Goldway receiving acceptances for at least 50.1% of MCM shares not under their control.

MCM shareholders are advised to seek guidance from their financial, legal, or professional advisers regarding the bid.