Contango Share Discussion Threads

[negan] 17/6/2024 12:03

China are eating coal like theres no tomorrow. They could eat up Contango's 2 billion tonnes without blinking. No wonder there is a Chinese backer willing to show the money. I really think people are missing the mark here. Low shares, low MCAP. DYOR

[negan] 17/6/2024 11:57

What interests me is that as we all know climate change and net zero is a load of old tosh. China are not reducing coal emmisions but are increasing coal emmisions

[negan] 17/6/2024 11:43

Surprised this has not multi bagged on this mornings RNS. I've skipped straight the post I am writing as to busy to trawl through. My first thoughts are great news. Obviously need pen to paper, signed sealed delivered.

Forgive me if I have not got my facts right as I read the RNS really quickly in my way to the airport.

Correct me if I am wrong. They have 2 billion tonnes of different grade coals.

I read that the CGO will get a minimum of £2 a tonne of low grade coal

£2 a tonne x 2 billion tonnes = £4 Billion

Then next grade coal £4 a tonne = £8 Billion

And then the coaking coal the company will receive back is £8 a tonne = £16 Billion

So even if you go buy the lowest estimates of £2 a tonne = £4 Billion with an MCAP of below £10 million please make it make sense?

[meanreverter] 17/6/2024 11:05

swanvesta: To answer your final question, this map



shows coal deposits strewn across southeastern Africa, including Zimbabwe. So the 10% figure looks plausible. Of course, many of the deposits may not be thick enough, or of sufficiently high quality, or near enough to the surface to be economically mineable.

[swanvesta] 17/6/2024 09:55

A couple of news pieces on the cement plant:



He's there as chairman of Labenmon. But it seems he's signing up here in his own capacity.

Please post any more background you can find.

[swanvesta] 17/6/2024 09:34

Well, the firearm offences came in near the top of the list. I thought it best to be charitable and assume that was someone else. Other than that, mostly references to today's news. And a news article (with his name scrambled) complaining about a company called Labenmon which has allegedly been trying to turf some locals off their land. I found little on Labenmon except that it had been struck off for non-filing at some point in its history.

If your google can find some good links, it would be great if you could share them.

I have since found one quite promising link, referring to a multi billion $ proposed energy industrial park in a place called Mapinga (Mpinga?) The fellow sitting on the right of the picture seems to be the man:


Following this up reveals that the project includes plans for coal, as described here:


"Mapinga is also planned to have a coking plant, that is converting coal to coke, and a pair of 300MW coal thermal power stations.

Building these at Mapinga rather than Hwange, where all our coal is presently mined, suggests that far closer coal fields will be exploited.

These exist, since almost 10 percent of Zimbabwe lies on top of a coal field. So somewhere a new coal mine is required before Mapinga becomes a major energy producer."

However, I don't think Muchesu will satisfy the desire for closer coal fields. And is it really true that 10% of Zimbabwe is on top of coal?

[blakesmith] 17/6/2024 09:30

Back to 1 soon

[apfindley] 17/6/2024 09:03

There's plenty of info out there about him.This year signing a deal for a cement plant in Zimbabwe, and also a lithium plant. He has a long history also in the gas industry for chinese companies.And if you go back further to 2014 he was arrested for firearms offences (posession only).You need a new Google, I think yours is broken.

[swanvesta] 17/6/2024 08:37

So who is Wencai Huo? Described as "a prominent Zimbabwe-based Chinese national with extensive mining and business investments in Zimbabwe and the Southern African region."

But Google is not exactly forthcoming. As was the case with CGO's previous business associations.

The pessimist in me expects delays in closing this deal. And a fundraise to keep the lights on in the meantime.

[apfindley] 17/6/2024 08:25

You missed the word "WITHOUT"Go get your glasses.

[genierub] 17/6/2024 08:07

Blake your a fool. This will go to 5p

[apfindley] 17/6/2024 08:02

One month on advfn and 700+ nonsense posts already.An alternative account for a manipulative gameplayer. Jog on. Blocked.

[blakesmith] 17/6/2024 07:54

Will be back to 1p as the traders start dumping at a loss

[blakesmith] 17/6/2024 07:54

Pumping donkey

[apfindley] 17/6/2024 07:47

"This transaction will position us to subsequently benefit from this, without requiring the shareholders of Contango to be diluted by further capital raises or to reinvest cashflow to fund expansion." 

[genierub] 17/6/2024 07:47

This will be todays multibagger

[bad gateway] 17/6/2024 07:43

Yes I misread the $2M/yr as being part the share subscription agreement. Need to see sales agreements come through imo but an improvement on standard rns's all the same.

[genierub] 17/6/2024 07:31

2M per year. This is going to 300% today

[burtond1] 17/6/2024 06:33

RNS of the day this for #CGO Have that :?Disposal of 51% Interest in Monaf?Cash investment into @ContangoPlc ?Royalty Agreement?Further Investment into Muchesu?Offtake Discussions Update?Board ChangesOnwards and upwards for #CGO ?

[bad gateway] 17/6/2024 06:09

VWAP? Sounds like a placing not an investment and its $2M/yr at VWAP?
Confused.com.

[jp2011] 22/5/2024 14:03

Always possible but they have a 2bn tonne resource

[dragon35] 22/5/2024 12:19

Bens creek showing the path forward for CGO.