Contango Holdings Plc ( (GB:CGO) ) has provided an update.
Contango Holdings Plc has announced its unaudited interim results for the six-month period ending November 2024, highlighting its strategic shift towards becoming a royalty-focused company. A key development is the partnership with Huo Investments Ltd, which has led to significant investment in the Muchesu Mine, including the installation of a dense media separation plant and plans for a second one. This partnership has not only increased production capacity but also secured a sustainable supply of coking coal. The company has received its first royalty payment and anticipates further financial improvement in 2025, driven by these royalties and the operational productivity at Muchesu.
More about Contango Holdings Plc
Contango Holdings Plc is a London-listed natural resource development company focusing on transitioning to a cash-generative royalty business. The company is primarily involved in the mining sector, with a significant focus on coking coal production at its Muchesu Mine in Zimbabwe.
YTD Price Performance: -14.00%
Average Trading Volume: 908,950
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: £8.15M
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