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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Contango Holdings Plc | CGO | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 1.35 | 08:00:16 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 1.35 | 1.35 | 1.35 | 1.35 | 1.35 |
| Industry Sector |
|---|
| MINING |
| Top Posts |
|---|
Posted at 06/12/2024 12:29 by 1waving .Financial Update 29/11/24 The Company's working capital position will be improved following the receipt of funds from the Subscription ( $1,000,000, which is subject to the SFP), which the Company expects to close imminently and the receipt of an additional $1,000,000 in December 2024 under the terms of the minimum annual royalty payment in the MRA. The Company is proposing to use these funds to fund the Company's general working capital and repay loans outstanding. Under the MRA, the Company will be paid a minimum of US$2,000,000 per annum, with additional amounts to be paid based on the amount of coal produced at Muchesu. The Investor has confirmed an inaugural royalty payment of US$1,000,000 will be made in December 2024, with a second minimum US$1,000,000 expected around the end of Q1 2025. Thereafter the additional royalty payments to the Company will be in line with operational productivity at Muchesu. Contango previously funded the development of Muchesu through loans to Monaf. These loans equate to approximately US$20,000,000. It has been agreed with the investor and enshrined in the RFA that these loans from Contango will be repaid by Monaf on a 50-50 basis with the US$20,000,000 currently being leant to Monaf by the Investor for the development of Muchesu. For the avoidance of doubt, this debt repayment to Contango from Monaf is in addition to the royalty payments owed to Contango under the MRA. ------------ You can now add to that $8 per ton which is now being produced, paid monthly in arrears. . |
Posted at 04/12/2024 10:01 by apfindley Washed coking coal capacity of 3000 t/dValue to CGO $8 /t$24,000 per productive day which is around $7.5mill per annum, cash.There will be a 2nd plant coming early 2025.So what do you value Contango at once the 4mill of investor loans are paid back, and then Cgo will be a dividend payer? |
Posted at 24/9/2024 10:31 by apfindley Time to buy at these prices is running out.Likely be a temporary suspension after this week, as mentioned already, regarding the audit being done and the prospectus to be released.Investors will wake up and realise Contango is receiving payments from Huo, royalties of 8 dollars a tonne at 3000 tonnes a day for each DMS plant. The penny will drop. |
Posted at 20/8/2024 08:36 by danmart2 Keep pumping ladsIt’s been a disaster for investors, the future is far from rosey with the Chinese now effectively running the mine and paying what they wish, no one else is going to buy the coal as it’s too far for delivery to the port or the South African border, but keep pumping |
Posted at 18/7/2024 08:16 by swanvesta I agree with apf, this is all finally starting to make sense. Which doesn't make it a recommendation. Plenty of opportunity still for the money to disappear or for the chinese to stiff minority investors. |
Posted at 18/7/2024 08:12 by swanvesta The chinese "sales route" is to the power plants they are currently building. The company will not have had access to that as the chinese would have been putting their plans together independently. Carl did flag up a while ago they had a big investor looking to take over the operation. Of course, it seemed just another of his fantasies. |
Posted at 18/7/2024 06:47 by burtond1 Great update from #CGO https://www.londonst |
Posted at 03/7/2024 10:31 by apfindley The Chinese do this with EVERY resource company they target. Quietly play games to cause delays, erode the shareprice so the market caps become small, the companies become desperate for cash, THEN the Chinese emerge from the shadows to provide funding, taking controlling stakes at reduced prices for peanuts, then with control lthey can do what they want....and all the resources steadily be owing owned by the Chinese..This is not just about contango, but ALL resource companies the Chinese get their claws into.The west is falling behind rapidly, and sadly part of the problem is the personal greed and games of investors and shorters who manipulate stock prices and weaken the ability of small Aim/lse companies to raise capital at sensible prices, creating a constant downward spiral for good companies with good resource assets....which are then bought cheaply by the Chinese. |
Posted at 02/7/2024 16:59 by 1waving swanvesta.Not clear when the 51% is transferred. Wencai will become operator after 51% transferred. " The Definitive Agreements are subject to completion of any outstanding due diligence by the Investor, as well as legal, regulatory and shareholder approvals, which the Company expects to co-ordinate in Q3 2024. The Investor has substantial business operations and investments in Zimbabwe, therefore, is well regarded in the country. Further details are provided below with respect to the Term Sheet. Once the Definitive Agreements have been entered into a General Meeting will be called for Company shareholders to approve the proposed transaction." The next RNS should be more specific. . |
Posted at 02/7/2024 09:51 by swanvesta Has anyone figured out what this is worth? Assuming the deal completes of course.The guaranteed $2m pa will keep the lights on. Anything above that has to come either from royalties on sales (eg thermal sales above 1m tpa), or from the retained 23.75% of Monaf. So what might production numbers look like? Short term, probably nothing too significant. Medium term, I understand Mr Wencai is building or planning to build a couple of 300MW power plants. These will consume about 3m tpa of thermal coal, and sales could start in a couple of years. I suspect this will be his focus for the foreseeable, but longer term there could be other developments with the more lucrative met coal and coke products. That means that royalty revenue could rise to $6m in 2-3 years. And there is also the potential for profit related income from CGO's retained 23.75%. Can we assume good governance here? This is Zimbabwe after all and I'm not sure what rules operate. Mr Wencai will be pricing the coal to his own power plants. If he and his associates own > 51% of them there is an incentive to favour them with low prices and stiff the foreign investors at CGO. Anyway, if/when Monaf does become profitable, CGO should start to get repaid their $20m loan, at the same rate as Mr Wencai on his own $20m planned investment. Thereafter they should get 23.75% of profits. What is the likely profitability of Muchesu at 3m tpa? I have no idea to be honest. I don't want to rely on any numbers Esprey has put out in the past, and I'm cautious of governance issues as mentioned above. I bought a tiny starter position at 1.3p and await further news. |
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