Contango Share Discussion Threads

[sirmark] 01/7/2023 20:10

Grabbed some more on Friday 3.8 p loads to go and I expect new of new off takes very soon and hopefully I can get a lot more before that announcement!Have a good weekend all

[jailbird] 29/6/2023 14:02

Amazing how many buys have gone thru after listing that :-)

[1waving] 29/6/2023 11:40

The full speculative article from Dec 5th 2022

A coal deal in the works for Tsingshan, Contango
By
newZWire - December 5, 2022


UK-listed Contango, which is developing a new coal mine in Zimbabwe, says it is in talks with a “multinational company” for a possible coking coal mining deal.

Contango says it has signed an MoU for “collaboration” on coking coal and the manufacture of coke at its Muchesu coal project, in Hwange’s Lubu area. The site is said to contain a resource of two billion tonnes of coal. The talks are focussed on a long-term offtake and a joint venture to construct coke batteries and develop an underground mine.

Contango does not say which company it is talking to, with CEO Carl Espray only saying that the MoU is “hugely material for Contango” and that the multination concerned “is active in Zimbabwe and is a world leader in its field”. But it is most likely that the potential partner is Tsingshan, the arm of the world’s biggest stainless-steel company, which is building a steel plant near Mvuma and is hungry for coking coal, a key ingredient in steel production.

Last year, Contango said it was in preliminary talks with a potential partner with “a sizeable footprint in Zimbabwe and is planning to construct a US$1 billion carbon steel plant in the country”.
Contango timelines

In its latest statement, Contango says the potential partner has already made several site visits and analysed a 50kg sample of the Muchesu washed coking coal, Contango said Monday. This may lead to the buyer taking up the coking coal that Contango will produce, or the building of a coking plant near the mine.

“Based on current timelines, the company would aim to conclude the first phase (concept/pre-feasibility) of the due diligence exercise in Q1 2023 after which a decision will be made if, and how best, to proceed to the subsequent phases,” the company said.

Said Espray: “I believe their interest in the Muchesu Coal Project is testament to its highly attractive characteristics, both in terms of scale and coal quality.”

As part of the due diligence, Contango is delivering a 1-tonne coking-coal sample to the multinational company for further testing.

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[jailbird] 29/6/2023 11:23

You are right it could will be Chinese Tsingshan is a major player usually in Nickel Space https://newzwire.live/a-coal-deal-in-the-works-for-tsingshan-contango/However it depends whether Tsingham follows through on the MOU If it doesn't, then turn the lights out

[festario] 29/6/2023 10:32

Gaffer, I wouldnt dream of buying back here. Its as dodgy as hell, possibly for some of the reasons 1waving says.But I think its much simpler than that.

[gaffer73] 29/6/2023 10:12

Good time to buy back??

[festario] 29/6/2023 09:47

It's halved since I sold the shares that I was given by CGH, the old Sable Mining. Yet this is meant to be THE month of commercialisation!

[linz22] 28/6/2023 08:56

An even bigger bargain today..!

[mayroad2] 27/6/2023 15:13

Didn't hear him say that - he said it's going in now and will be in before the presidential visit on 21st July

[bad gateway] 27/6/2023 14:11

One wonders how they were going to achieve that without the weighbridge that carl now tells us won't be installed til at least end july?

[1waving] 27/6/2023 12:28

.
" The Company expects to announce the first sales of washed coking coal in June 2023. "

-- Just 3 days away. June 30th on Friday.
CGO has a strong track record of failing to meet deadlines, this time ????


.

"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."

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[negan] 23/6/2023 12:03

All of these beauties are held in my tax free ISA account 😊

[negan] 23/6/2023 12:00

Read a company tweet earlier saying we could be mining and selling coking coal up to 50 years from now. I have no intention of selling any of my shares and will be passing them onto my children to reap the rewards when I finally meet my maker.

[marvelman] 23/6/2023 08:38

AIM...any thoughts?

[marvelman] 23/6/2023 08:34

Very tempting to take a chance here. I am still leaning towards a placing but nevertheless IF that RNS has some truth in it this is now a compelling punt.

[aimmafia] 23/6/2023 08:24

You'll be waiting some time for that

[danmart2] 23/6/2023 07:58

I’m more interested in the Mali gold mine

[burtond1] 23/6/2023 06:22

A world class resource with options for Contango say @TMSreach "...there are a number of groups that wish to purchase coking coal product from Lubu. We can sell to anyone and everyone..."https://total-market-solutions.com/2023/06/contango-holdings-plc-june-2023/

[blades38] 22/6/2023 23:38

Common sense , perfectly put

[negan] 22/6/2023 23:04

Happy to be holding a few of these beauties. Looking forward to the sales profits RNS. I like these companies that slowly generate income and profits for lth shareholders. Sit back and ignore the noise. 200 billion tonnes of coking coal is going to generate profit for many years to come. Our government is a disgrace with this net zero madness. Thankfully our buyers need our coal and are not buying this net zero nonsense. China are not decreasing burning fossil fuels but are laughing at us and increasing burning fossil fuels and their economy is booming. Also, the new Zimbabwe government are pushing hard to bury the ex mugabe regime and going all out to encourage new investment. We are in a perfect win,win for all. Enjoy the ride. Night, night..

[danmart2] 22/6/2023 19:42

Festario

I agree, I hope this company is a success

[festario] 22/6/2023 17:04

I'm amazed to see the price turn blue, and genuinely pleased for all holders. I don't want every single AIM mining stock to be a scam, it gets depressing.

[marvelman] 22/6/2023 16:14

Just as certain people went quiet when the price was falling AP. If there is nothing to say that has substance then its not worth saying anything. I personally don't know what on earth is going on here and I suspect neither does anyone else.