29th Dec 2020 17:56
Contango Holdings PLC - natural resource development company focused on Zimbabwe and Mali - Executive Director Carl Esprey says "delighted" with progress made this year. "We now have two projects that are expected to provide production and healthy margins within a year. Both have significant scalability and longevity offering further upside," Esprey adds. At Lubu coking coal project, Zimbabwe the Binga Camp, base of operations for first phase of development, has been "successfully rehabilitated". Contango notes upgrades to access have been made at asset. "The company can advise it consequently expects to be able to open the pit next month. This will be a material event for Contango, helping finalise ongoing offtake discussions for coking coal," Contango says. At Garalo, gold project, Mali company says geologists further assessing deposit following independent technical report.
Current stock price: 8.48 pence; up 6.1% on Tuesday
Year-to-date change: up 89% since mid-June
By Eric Cunha; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
Contango Hdg