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The latest announcement is out from Contango Holdings Plc ( (GB:CGO) ).
Contango Holdings Plc announced that a strategic investor, linked to Huo Investments, has increased its stake in the Muchesu coal project by purchasing an additional 6.502% of shares in Monaf from a local minority shareholder. This move, alongside the investor’s existing agreements to acquire a 51% holding in Monaf, underscores a strong commitment to the project’s development and suggests a positive outlook for Contango’s operations and shareholder confidence.
More about Contango Holdings Plc
Contango Holdings Plc operates in the natural resources sector, focusing on the development of the Muchesu coal project in Zimbabwe. The company aims to unlock value from this significant +2 billion tonne coal reserve, which is owned by its subsidiary, Monaf Investments (Private) Limited.
YTD Price Performance: -18.00%
Average Trading Volume: 729,932
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: £7.77M
Learn more about CGO stock on TipRanks’ Stock Analysis page.