Contango Share Discussion Threads

[gopher1981] 10/12/2024 13:32

Below a penny is quite possible in the next 2 weeks. No trust in the board. Far too many lies been told over last 2 years

[apfindley] 09/12/2024 22:41

Intelligent posts always stand out from the crowds.You're clearly clever enough to realise if you talk this down then you can load up cheaper and enjoy more shares to reap the royalties from.Marvellous.

[gopher1981] 09/12/2024 21:29

Not long until this is back to below a penny

[1waving] 06/12/2024 12:29

.
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.

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You can now add to that $8 per ton which is now being produced, paid monthly in arrears.

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[danmart2] 04/12/2024 17:05

Chinese will want to pay dividends?

I don’t know where to start.
If you really believe CGO is going to play by the rules, by any rules other than the boards self interest, you deserve everything you get.
Which won’t be anything from this lot.

Recent uptake in CGO comms and promotion suggests a share raise is on the cards.

[swanvesta] 04/12/2024 16:25

Well, you can think that if you like. My view is that the chinese holding is an after thought. And it's not as if CGO add anything to the operation - just an extra layer of overhead and associated costs. It will be interesting to see what happens once they reach the $20m promised funding and perhaps seek to expand further. That's a classic tactic the majors use to dilute a relatively cash-poor junior partner.

But I hope it all works out. It will be quite a change given the history of broken promises and poor choices of partnership .

[avobull] 04/12/2024 13:05

The Chinese will still own 20% of CGO itself and therefore will benefit from any dividends paid out from CGO. That gives them a good incentive to make sure the CGO Board pay out dividends with the proceeds from royalties, Monaf dividends and the repayment of the $20m loans!

[swanvesta] 04/12/2024 12:28

avobull, the chinese own 51% of Monaf directly and just 4.75% (20% * 23.75%) indirectly via CGO. Furthermore, it seems likely they also have a significant interest in the other side of the offtake ie in the buyers of the coal. Where do you think their incentives lie? Hence, for CGO shareholders at least, there is much still to be proven.

[dan de lion] 04/12/2024 11:53

Figures for Zimbabwe coal production indicate that 5 million tons were produced in 2023, 6,000 tons a day adds approx 2.2 million tons!

[dan de lion] 04/12/2024 11:18

3,000 tons of coal a day will take some shifting, really needs a spur off of the railways at Dete, I would have thought, perhaps could happen with the Chinese $535 million mooted upgrade of the rail network, especially if another 3,000 tons are added.

[avobull] 04/12/2024 11:04

As the Chinese will own 20% of CGO, they will want the dividend policy to be implemented

[swanvesta] 04/12/2024 10:48

I suspect people may be waiting to see if promises are kept ie that the board walks the talk on returning cash, and that the chinese play fair.

[apfindley] 04/12/2024 10:01

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?

[swanvesta] 04/12/2024 09:03

Monaf is already private. The chinese have 20% of CGO.

[farrugia] 04/12/2024 08:07

This company is now much better positioned than years ago - show us some love baby!

[swanvesta] 22/11/2024 18:04

Results out:

[danmart2] 19/11/2024 10:57

It’s more than rubbish, its blatant rubbish

[festario] 19/11/2024 00:01

It's rubbish, just like GWMO, and all junior miners, and almost everything on AIM. Be honest man.

[apfindley] 18/11/2024 22:33

From 31 October "approximately 2 weeks"So yes even allowing a few extra days, it needs to appear this week.

[dan de lion] 18/11/2024 09:05

Looks like the late report is late!

[danmart2] 31/10/2024 05:46

Fair enough, your pumping this hard but most people have realised it’s a lifestyle company and moved on hence the shareprice

[dan de lion] 30/10/2024 09:15

One day left for publishing in October!

As per RNS 1st Oct.

[apfindley] 27/9/2024 11:47

Until the prospectus is completed and released, which as mentioned is a requirement for the new auditor who will be signing off the accounts.