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SP taken down to share subscription price, 1.1p, then buying comes in.
Typical after a fund raising share issue.
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1.6m tonnes of coal for Huo's power stations will yield a good dividend for investors longer term and pay their salaries!
DYOR
hxxps://www.pressreader.com/zimbabwe/the-herald-zimbabwe/20220917/281496460137503?srsltid=AfmBOop50AIXwoitDpjno72bkKu_YLH2EBa4hrQW0-_WiQ-W3DQrlVhi |
No, they'll get it when the need to pay themselves again IMO. |
Another $500,000 payment this month might move the share price upwards. |
The two 300MW coal fired power stations will consume about 800,000 tonnes of coal each. This is why Huo is buying the mine (or most of it) and taking a shareholding in Contango. Once the regulatory approvals have gone through, I would expect an offtake should be put in place which will support the long term operation of the mine and its profitability. |
You can't just look at the chart, there have been multiple factors at play here |
So, looking at the chart, since 2020, you don't think you've been scammed then? |
Its just regulatory hurdles being cleared before the shareholding in the mine can be transferred over to the Chinese. The fact that they are investing in the mine before the shareholding is transferred shows how much confidence the Chinese have. If you look at what Huo is already involved in, he has been part of the $13bn investment in Mapinga, which involves building two 300MW coal plants. So he will presumably will need an large offtake from Monaf for some coal...
hxxps://www.pressreader.com/zimbabwe/the-herald-zimbabwe/20220917/281496460137503?srsltid=AfmBOop50AIXwoitDpjno72bkKu_YLH2EBa4hrQW0-_WiQ-W3DQrlVhi |
Time to face facts APF, this one has been a scam since day one. |
I imagine the monies received will be used to pay salaries. |
They probably have. But not necessarily as the agreement is payment of 2mill of royalty per annum regardless of any revenues. |
As payments under the MRA have been made one can assume that coal is actually being shipped. |
I believe the lack of news is to drive the price down for a cheap buy out. And I do not think I will be far wrong. A penny will be breached by next week in my opinion |
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$1 Million was due by end of Dec...... Got $200,000 but told the other $800,000 would not be paid until the end of January.
End of January received nothing. No news, no notification.
Share subscription to Huo has been completed towards the end of January but no RNS to say CGO has received the $1,000,000 proceeds from the subscription.
That makes circa $1,800,000 from Huo overdue and is highly material to CGO's financial position, so shareholders must be informed of where that money is by a Regulatory required RNS.
Shareholders are also being starved of news on Operational matters which is also key for shareholders to know.
Coal production was said to have started months ago and new equipment was due to arrive in January.
Not a peep from CGO.
Is the mine producing, if so how much is being produced and how much is due to CGO ? Where is the new equipment supposedly to be delivered in January ?
As there is a CCP interest in this company and their abysmal record is well known, it would be better to get on to the Regulatory body sooner than later to investigate what is really happening, if we do not get informed by RNS sharpish.
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Sub 1p almost here |
It was always the Chinese. Rinsing investors for money to set everything up and then taking private to reap the rewards.It has been a total scam, with a CEO historically ripping people off with a fraudulent back ground. This will be sub 1p soon. Investors are just cannon fodder here. |
The price was decimated for the Chinese to buy in. They'll own it all soon for a knock down price. The BOD will walk off with a nice bonus in to the sunset. |
Some scam this is! |
$800,000 payment been moved to next month then? |
And he increased holdings by a further 12 million shares, so where is he heading next?Is a sneaky takeover coming, or just more control? |
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Now that Huo has bought just over 20% of the issued shares, CGO should now have a further million dollars in the bank.
Definitely due an RNS.
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Three days left for the 800,000 to be payed this month. |
For peanuts |
Probably trying to buy it out of peanuts |
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