---
title: "Kinetic Development to Subscribe US$6.1 Million in Convertible Notes of MC Mining"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/289459060.md"
description: "Kinetic Development Group Limited agreed to subscribe US$6.136 million in unsecured convertible promissory notes for its indirect subsidiary MC Mining. Issued under a June 2026 agreement, these notes convert into MC Mining shares at US$0.2089 per share. Funds are accessible via capital calls until September 2026, providing staged capital for MC Mining's operations while potentially increasing Kinetic's equity stake upon conversion."
datetime: "2026-06-11T11:43:03.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/289459060.md)
  - [en](https://longbridge.com/en/news/289459060.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/289459060.md)
generator: "portal-rs"
---

# Kinetic Development to Subscribe US$6.1 Million in Convertible Notes of MC Mining

Kinetic Mines & Energy Ltd. ( (HK:1277) ) has issued an announcement.

Kinetic Development Group Limited has agreed to provide funding to its indirect non-wholly owned subsidiary MC Mining through a subscription of unsecured convertible promissory notes totaling US$6.136 million. The notes, issued under a Note Purchase Agreement dated 11 June 2026, can be converted at the company’s option into fully paid ordinary shares of MC Mining at a fixed price of US$0.2089 per share, subject to standard anti-dilution adjustments.

MC Mining may draw down the committed funds via capital calls made between 11 June 2026 and 30 September 2026, with each utilization request specifying the intended use of proceeds and referencing a cash flow forecast. Once conditions are met, Kinetic Development is obligated to fund each approved request, providing MC Mining with flexible, staged access to capital that can support its operational and financial needs while potentially increasing Kinetic Development’s equity exposure to the mining business upon conversion.

**More about Kinetic Mines & Energy Ltd.**

Kinetic Development Group Limited, incorporated in the Cayman Islands and listed in Hong Kong, operates through subsidiaries in the resources sector. Its portfolio includes an indirect, non-wholly owned interest in MC Mining, an Australia-incorporated company whose securities trade on the Johannesburg Stock Exchange and the Australian Securities Exchange.

**Average Trading Volume:** 28,783,470

**Technical Sentiment Signal:** Buy

**Current Market Cap:** HK$15.39B

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**