IN BRIEF: Contango raises GBP940,000 to progress Muchesu contracts
8th Apr 2024 11:32
Contango Holdings PLC - metallurgical coal producer focused on its 70%-owned Muchesu coal project in Zimbabwe - Raises GBP940,000 through the placing of 94.0 million new shares at a price of 1 pence each, now representing around 17% of the company's total share capital. Says that the fundraise will strengthen its working capital position and allow ongoing contract discussions to materialise, but that the proceeds are insufficient to repay its outstanding shareholder loans of GBP2.7 million. Read More