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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% | 0.95 | 08:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.95 | 0.95 | 0.95 | 0.95 |
| Industry Sector |
|---|
| MINING |
| Top Posts |
|---|
Posted at 02/3/2024 12:03 by bad gateway re the 30% their Annual Report and Financial Statements For the year ended 31 May 2022 tells investors on pg 41 that.."The acquisition of the Lubu coalfield project by the Parent Company took place on the 18th June 2020 and the Parent Company’s shares were readmitted for trading on the London Stock Exchange. The Parent Company acquired 70% of the shares of Monaf, which holds the Lubu Coalfield project, with the issue of 128,849,961 new shares in Contango Holdings and the payment of £392,331 in cash which had already been advanced to the vendor, Consolidated Growth Holdings. In the associated placing 28 million new ordinary shares were issued and a total of £1.4m (before costs) was raised at this date." They also mention a supportive local partner being the holder of the 30% (pg 9) would that be CGH still? |
Posted at 01/3/2024 12:08 by jailbird No wonder where UK market is dead now. If you allow companies like this to list here,Investors will disappear |
Posted at 27/2/2024 12:59 by 1waving Substantial ShareholdingsAs at 13 September 2023, the Parent Company had been informed of the following substantial interests over 3% of the issued share capital of the Parent Company. Holdings Percentage Pershing Nominees Ltd 74,314,459 15.72% Interactive Brokers LLC 60,818,190 12.87% Hargreaves Lansdown (Nominees) Limited 49,218,339 10.42% Luna Nominees Ltd 37,876,592 8.01% Interactive Investor Services Nominees Ltd 26,844,749 5.67% Lynchwood Nominees Ltd 19,856,469 4.21% HSDL Nominees Limited 17,942,538 3.80% Vidacos Nominees Limited 15,046,527 3.16% -------------------- Anyone got a more up to date substantial shareholdings ? . |
Posted at 27/2/2024 08:35 by fiddling12 Looks like the snouts in the know that the offtake agreement hasn't been successful. Come on Esprey time to front up and stop taking investors for granted. |
Posted at 20/12/2023 10:14 by unionhall Yes - Transore proven to have no substance as a simple Internet search identified months ago.If Investors could see that then the company knew it. Avoid this company at all costs ! |
Posted at 15/12/2023 10:20 by jailbird Fest If you read these ramping 10% penny trades , you would think with the losses they are making whether they really buy any stock at all Sad , lonely and bankrupt traders living on debt or Maybe just have a virtual portfolio and never buy any On the other hand, the market functions on 10-20% traders now , not investors , certainly not here |
Posted at 15/12/2023 09:34 by apfindley The rot continues.A massive coal resource....and yet no sales.The market is wondering if it was all lies about the potential offer. And the market is wondering if it was all lies about the talks with a 'major multinational' too.Board needs replacing. They are untrustworthy. Maybe they were hoping to do an Upland with their fake offer rns.Total shambles of management here now.All delays and missed targets, they've been given too much leniency with time by investors. |
Posted at 07/12/2023 17:09 by aimmafia Terrible share performance. The 7.5 million raise is looking expensive for the investors |
Posted at 07/10/2023 08:02 by russ505 CFAO Toyota MMContango eyes regional dominance 06 October 2023 Following the official launch of its flagship asset the Muchesu Coal Project – formerly known as the Lubu Coal Project – in Zimbabwe, coal junior, Contango Holdings, recently received its export permit from the Zimbabwean government, which allows the miner to sell its product regionally and internationally, CEO Carl Esprey tells Modern Mining. By Nelendhre Moodley. Contango eyes regional dominanceSince Contango’s acquisition of the Muchesu Coal Project three years ago, the company has delivered first production, a key milestone which underpins its strategy of expanding production by as much as 100 000 tpm within the next two years. The official launch of the Muchesu Coal Project took place on 31st July, at a ceremony well attended by the political elites in Zimbabwe, including President Emmerson Mnangagwa, mining ministries and the local community. “The project is a good story to tell, not only for Contango, but also for Zimbabwe and the local community in which we have invested heavily, in terms of community initiatives including the development of new houses” says Esprey. Contango holds a 70% interest in the Muchesu Coal Project, with the remaining 30% held by supportive local partners. The project covers 19 236 hectares of the highly prospective Karroo Mid Zambezi coal basin, located in the established Hwange mining district in north-western Zimbabwe. Advancing the Muchesu Coal Project While there is a great need for coking coal to fire up steel mills and the like, investors with deep pockets are reticent to invest in the development of coking coal projects. Metallurgical coal or coking coal is a grade of coal that can be used to produce good-quality coke. Coke is an essential fuel and reactant in the blast furnace process for primary steelmaking. The demand for metallurgical coal is highly coupled to the demand for steel. While some investors are reluctant to fund coal projects, given the negative associations with being a ‘dirty’ commodity, Esprey explains that there is “currently no scenario where the world doesn’t rely on coking coal for the production of steel, chrome or copper”. “So, until there’s a new technology, coking coal remains an imperative for the industrial sector and the global economy, which relies heavily on coal to drive it.” Contango was met with fund raising challenges ahead of developing the $10m Muchesu Coal Project. “Fortunately, we have a combination of supportive shareholders, high net worth individuals and smaller-scale investors who believed in the attractiveness of the Muchesu Coal Project and invested in its development.” He explains that aside from the $10m dollars spent on upgrading the resource, the previous owners also invested more than $20m developing the Muchesu Coal Project, with the result that the company has a sizeable resource of more than 1.3 billion tonnes. Currently, Contango is focused on mining from Block B2, where extensive work has been undertaken to define the specific properties of the coal. The coal seams within Block B2 are from surface down to a maximum depth of 47 m, thus ensuring operating costs are kept competitive. The miner has an off-take agreement with TransOre International for the sale of up to 20 000 tonnes per month of washed coking coal. The TransOre contract is priced at the prevailing Minerals Marketing Corporation of Zimbabwe (MMCZ) coking coal price, currently at $120/tonne. “TransOre takes the coal currently being produced from the upper seams at Muchesu at the MMCZ price and handles all logistics and transport costs through its affiliate African Rail International, which has in place rail access, locomotives and port access for export. TransOre currently holds an allocation for exporting coal through the Dry Bulk Terminal at the Maputo Port, Mozambique. The company has also expressed its interest in taking any additional coal that becomes available, either in the event of mine expansion or if expected contracts with other offtake partners do not materialise,” says Esprey. He adds that once steady state production is achieved in Q3 2023, its operating costs will be lower, around $45 per tonne of washed coal. Aside from exploring options to further reduce its operating costs, the company expects larger volumes to deliver economies of scale. Displacing Australian coking coal exports The United Kingdom-based natural resource development company is looking to displace a large chunk of coking coal supplied by Australian miners to regional mills with its own high-quality product as it targets industrial sectors in South Africa, Zambia, and the Democratic Republic of Congo. The LSE-listed coal miner is targeting key destinations mining chrome, copper and iron. “We have a range of high phosphorus and low phosphorus coking coal – low phosphorus is suitable for the steel industry while high phosphorus product is suitable for copper and chrome smelters. Moreover, we wash our coal to meet the coal quality that customers require. But, with the washing and removal of impurities, much of the product is lost in the process – we are currently achieving roughly 50%- 60% yield, which is the norm for the Southern African region.” Given that there is a market for the run-off or fines (DRC and Zambia), the company is currently in talks with potential off-takers for its fines. According to Esprey, South Africa currently imports vast quantities of coking coal at huge cost, from Australia. “Essentially a customer looks at two important inputs when considering product sales – product quality and cost. If the customer can buy the same quality of product at a cheaper price, the customer will readily move to a new supplier. As a result, we will be looking to supply coking coal to the South African market at half the cost of that supplied by Australian coal producers.” Given this aspiration Contango, which is currently mining at a depth of 47 m, says as demand for its product grows, the company will look to mine across the “whole footprint of the deposit” and at depth. “Should demand rise to 100 000 tpm, we will transition to underground mining. In fact, if a large steel producer inks an agreement for 100 000 tpm of coking coal, we are happy to mine underground on a dedicated contract for that client.” Moreover, given the closeness of Zimbabwe to South Africa, transport costs will be significantly lower when compared to shipping coal from Australia, which Esprey believes will be a game-changer for local mills. Aside from its existing offtake agreement, Contango is keen to ink longer term agreements directly with big steel mills in the region. “In order to have control of the product pipeline, big mills generally prefer to have a direct supply route from the mine. Following the award of the export permit, we have been engaging with a variety of large mills in South Africa and have already sent product for testing at their mills. Once potential customers are satisfied with the quality of the product, we will negotiate long term agreements with them.” But as a junior coal producer, does Contango have the capacity to deliver the requisite tonnages? Esprey believes that the Muchesu Coal Project’s 2 billion tonne resource is certainly up to the task. “Our strategy is first to become cash flow positive and then we will use the cash generated to expand the mine, the capacity of the wash plant and our logistics fleet, amongst others. Given our massive resource, the plan is to increase our capacity by at least ten times that of our current production and become a regional player supplying product into the export market.” In line with its lofty aspirations, the miner, which currently owns two front end loaders, a tipper truck and a surface miner to produce 20 000 t of product, will certainly need to significantly increase its fleet. “As we start expanding our rate of production, we will increase our fleet, especially our road maintenance fleet as we use a dirt road before we get to the National Road. With our plans to significantly grow our capacity, we will need to increase the number of graders, etc., to ensure road maintenance and plant capacity, amongst others,” he concludes. |
Posted at 03/10/2023 12:03 by unionhall "The current year investor loans total £860,861. Combined with facility fees of 25% they amount to £1,052,206 owed to investors. They will be repaid in cash on or before the 30th November 2023."So £1,052,206 to be found by 30th November. Also "Subsequent to the year end a further £1,475,000 has been loaned to the Company by investors." But this will be mostly already applied to the Trade Payables £1,142,510 outstanding at year end - leaving at 14 September, cash and cash equivalents of £200,000. Those sales need to start ratcheting up extremely quickly or further funding will be required....... What puzzles me is how they got unsecured, non-convertible loans of £1,475,000. Does this indicate extreme confidence in the company or have the donors some sort of back door recovery clause? Time will tell. |
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