Contango Share Discussion Threads

[jrlomax] 02/11/2023 11:47

If any offer is made they will have to put it to shareholders so we’ll have our say. We only own 70% so the other partner will have to agree as well if the buyer wants it all

[1waving] 02/11/2023 11:20

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Any company wanting to buy Muchesu needs to be very substantial and be able to have/raise a lot of cash. Resource companies are valued on their Reserves and Resources to a very large extent and a JORC of 1.3 Billion tonnes for Muchesu makes it a very massive resource asset, particularly when CGO reckon there is actually 2.6 Billion tonnes. With that being the case the JORC must be updated before any offer can become acceptable.

I suspect this is likely not the case with the potential buyer not being of any reasonable substance, but full of meaningless paper, brown envelopes, empty promises and jam tomorrow waffle. ----- but I do hope I'm wrong and it is a very substantial company with a credible genuine cash offer.

When a small company hits a massive resource there are many who would try to steal that resource by any means possible, criminal or otherwise. Gulf Keystone Petroleum is a great example of that --- but has managed to survive after major attacks and a financial restructuring which massacred shareholders.

The market's reaction to this latest RNS/potential offer has been negative, which is not encouraging. --- Time will tell.

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[montyhedge] 02/11/2023 10:46

How much money, time and effort put into this project, someone let us do all the work, swoop in and get us cheap

[jrlomax] 02/11/2023 08:23

Makes no difference as we are governed by the MMCZ coal price in Zimbabwe which is currently $120 per tonne

[bad gateway] 02/11/2023 08:12

Coking coals still doing rather well, India's still a strong customer though probably more relevant to BEN than CGO.

"Australian HCC metallurgical coal surged above 345 USD/t, after a recent correction, following stable demand from Indian consumers and limited supply on the spot market. Anglo American’s metallurgical coal production in Queensland, Australia fell 21% in July-September to 4.3 mio t (-1.2 mio t y-o-y), although production guidance for 2023 was maintained at 16-19 mio t. South32 also reported a drop in coal extraction."

Source: CAA

[montyhedge] 02/11/2023 07:53

That's the best time for a company to get Contango cheap, when Thermal coal was $440 not so long ago.Glencore managed to sell Thermal at $375 to Japan, I think it was a three year deal. Someone going to get Contango very cheap.

[goforgold1] 02/11/2023 04:35

https://x.com/borg74/status/1719753886788116599?s=46&t=wTu2t-d-X8xNB2EJiVNwEACoal falling very fast could be reason

[jrlomax] 01/11/2023 18:13

The share price drops by the dividend amount anyway so that’s not good for a one off payment. Share buy back is better.

[dragon35] 01/11/2023 16:14

What if the offer is legitimate but market doesn't trust how the board would use and distribute the funds? Would you trust this board to pay a special divvy or a share buyback instead of smashing the cash on a new shiny opportunity to get rich quickly? Do they have a substantial shareholding where a special divvy would be very beneficial to them?

[festario] 01/11/2023 15:04

Possibly, but wouldn't the market movements prove the veracity of that? It would be a very good thing for shareholders in the circumstances that you outline.

[apfindley] 01/11/2023 13:40

Not really.This isn't an offer approach, it's a potential asset level deal only, not a t/o.We've known for a year that a major has been looking at taking coal on a large scale, or wanting to join up to help fund coke batteries. So there is substance to the rns, just what will transpire, we don't yet know.Ideally, a sale of the asset (in ground) would give a special divi return to shareholders and then a few mill leftover for contango to pursue another project. Surely a good thing.

[festario] 01/11/2023 12:37

It's quite obvious really, it can't be genuine, like the charade at UPL last week. Another scam attempt I suspect, and the market seems to agree.

[montyhedge] 01/11/2023 11:58

Lol they make a statement when's the shares rise, now they should make a statement why they have fallen back to the level they started at.

[1waving] 01/11/2023 11:32

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Reserves and Resources

An update should be done on the JORC report.

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[dragon35] 01/11/2023 11:30

What impact does the share price have on an asset sale? The assets will be valued on a DCF type model I would assume but it depends which assets are being sold I guess?

[goforgold1] 01/11/2023 10:24

Got to re test 3.5p

[montyhedge] 01/11/2023 10:06

Yes perhaps someone knows deal may be off. Shareprices talk.

[jrlomax] 01/11/2023 09:13

Regardless of whether an offer appears or not we should still be ramping up coal and coke sales.i agree Esprey is a tool

[1waving] 01/11/2023 08:56

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I am now of the opinion that the share price has been held down very deliberately, since late July. ( By who and why ???? )

Esprey hasn't helped with his continuing failures and simply can't be trusted.

The last RNS shook things up a little but still being held down now, even though there is now a potential deal.

This " acquisition of assets which may results in the sale of its assets at the subsidiary level " by an unknown entity stinks to high heaven.

Is the share price being held down because of this potential asset sale ?? .... to keep any buying price down.


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[goforgold1] 01/11/2023 08:20

Someone getting out quickly. First thing !!

[goforgold1] 01/11/2023 08:03

Re trace to 3.50p here if no deal this will be in big trouble. Watching and waiting

[goforgold1] 01/11/2023 05:03

Paul . I only have one name why you think i have loads of names on ADVFN is strange . As for CGO i actually feel their might be a deal but we all know what happened at UPL total scam their. But here is different as they have the resources to sell mine set up to produce they would be better selling part of company get the money to continue as they have no money left they just keep borrowing of a shareholder who if the deal comes is going to make a good amount of money 25% interest for a start . They are not delivering 20T of coal lol just 1T delivered massive difference. I watch and wait for insider buying . Have a nice day . Have a look at PXEN looking great for a move to 8 to 9p cash rich and selling GAS.

[paulhopeful] 01/11/2023 00:23

Or should I say Glenn from telegram? Sunday roast points out a few things, last addition, not least Contango should be double digit.

[paulhopeful] 31/10/2023 23:35

Mix you’re many names up again gfg1 lol.

[goforgold1] 31/10/2023 16:48

Looking for an entry if i feel it's their it leaks so watching for buying volume