Contango Share Discussion Threads

[1waving] 21/6/2023 10:11

Just over a week to go for news according to the last RNS :--

24 May 2023

Contango Holdings PLC

('Contango' or the 'Company')

Washed Coal Production Commences at Lubu

Contango Holdings Plc, the London listed natural resource development company, is pleased to advise that the production of washed coking coal commenced on Tuesday 23 May 2023 at its flagship Lubu Coking Coal Project in Zimbabwe. This followed dry and wet runs of the wash plant over the preceding days and the integration of the screen with the broader processing facilities.

Stockpiles of coking coal have already been established by the Wirtgen Surface Miner, which, as previously reported, can mine at a rate of up to 1,000 tonnes per hour of coking coal. The Surface Miner continues to extract coking coal and is increasing the wash plant stockpiles further.

The Company will continue to undertake studies on washed coal production to ensure optimisation. Samples will also be sent to several parties who have indicated they would look to enter into long-term offtake contracts. This includes the Company's potential Strategic Partner under a Memorandum of Understanding and complements Contango's existing offtake for 10,000t a month of washed coal. All coking coal produced, including coal dispatched as samples, will be sold at factory gate, with the current MMCZ price still set at US$120 per tonne. The Company expects to announce the first sales of washed coking coal in June 2023.

Photos and videos of the Wirtgen Surface Miner in operation and the commissioned wash plant will be uploaded to the Company's website ( www.contango-holdings-plc.co.uk ) and its official Twitter account (@ContangoPLC) later today.

Carl Esprey, CEO of Contango, commented: "This is a landmark moment for Contango. It is no small feat to bring a mine into production and something most junior mining companies never achieve. I appreciate this process has taken longer than expected, but we are now producing a high-quality coking coal product and very soon will be a revenue generating company. We have achieved this during turbulent markets and without significant dilution at the plc level, which is testament to the team assembled in country and the attractiveness of the Lubu Project.

"The focus for the Company is now how to best expand operations at Lubu, leveraging off our producer status. We have advised previously we intend on manufacturing coke at Lubu, which is expected to increase our margins from US$80/tonne to over US$300/tonne at current pricing. We have continued to pursue this avenue in discussions with potential strategic partners.

"The sheer scale of Lubu opens up significant potential across a variety of revenue streams and we intend to focus on unlocking the potential of Lubu from this very solid foundation."

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Market Cap just under £20 million ---- Topped up at these prices.

What Market Cap in 6 months... or a year .... and so on ???

.

[bsg] 21/6/2023 09:52

Be lucky if placing is as high as 4p.

[apfindley] 21/6/2023 09:26

So should we guess that the influx of usernames on a downwards price, are participants of a 4p placing. Surely not, insider trading, forward selling, that never happens.

[wooster4] 20/6/2023 20:54

That’s rich coming from you apfindley!

[jailbird] 20/6/2023 19:28

Marcel manGood post , totally agree with that

[marvelman] 20/6/2023 19:00

You sound like someone with their head firmly in the sand....and of course losing money as a result. Do you really believe a few lowly PI's with an alternative view posting on a BB have brought the share price to where it is? You need to open your mind and more importantly not continue to convince others of your narrow perspective regarding this share.

[apfindley] 20/6/2023 16:26

You sound like someone who wants to buy cheaper.Another account in the same circle as the others already blocked on here.

[purple11] 20/6/2023 15:53

WILL WE SEE THE 3S HERE

OR THE 2S?

[jailbird] 19/6/2023 23:03

Nah Keep averaging down Listen to the bulls , they are well informed and know better .Oops you were a bull before Bit if does happen , how many times will I read , how wonderful this news is now it is out of the way It will just sold into good news

[aimmafia] 19/6/2023 12:12

It smells of a placing but wtfdik

[festario] 19/6/2023 11:37

.... and now a new 3 year low. Is it only me that smells a rat here?

[somersetinvestor] 16/6/2023 12:41

Do many people actually listen to the Sunday pumpcast?

[purchaseatthetop] 16/6/2023 11:42

festario:

No...it is a completely legal pump of PIs. The almost certain proof?
That Sunday Roast and Zak Mir are being paid to pump it:


BEN, CGO, CHLL, MOS, SYME etc etc.

[festario] 16/6/2023 11:08

A new one year low, in the run up to being supposedly cash flow positive? This has all the hallmarks of a scam.

[danmart2] 16/6/2023 11:08

Today,
20k sales Vs 1k buys?

Interesting ratio

[markliddiard] 15/6/2023 23:02

JessieDuke - hopefully we'll see an RNS with a positive update very soon!!btw - how is the 'General Lee' did it pass its MOT!? Lol

[jessieduke2] 15/6/2023 13:27

Market waits for proof of revenue.

[21ant] 13/6/2023 11:35

Bought some at 4.43p this morning. Looking like good timing at the moment. Just need some news now to kickstart this properly. Good luck all

[bad gateway] 12/6/2023 11:17

Share price says panic, newsflow from the area doesn't its actually fairly positive.

From LSE. Glowing reports from yokels..

[danmart2] 06/6/2023 12:28

I would assume a company CEO would want to celebrate delivery of product and any new off take deals via RNS to share with the markets

[bad gateway] 06/6/2023 01:19

Not actually overdue. last update stated they'd be selling washed coal in June. Would hope its soon though as the market obviously doesn't believe.
Looks to be fairly low volume selling no buyers til the first "sales" RNS lands (presuming it does)



free stock charts from uk.advfn.com

[danmart2] 05/6/2023 18:30

Update over due