22nd Oct 2021 17:57
Contango Holdings PLC - natural resource development company - Receives results from samples collected from the Lubu Coal project in Zimbabwe, which reveals high swelling indices, low ash content and high yields to produce the coal product, as well as the high strength of coal, and low sulphur values.
"We are delighted with the results from this study, which have demonstrated the commercial characteristics of the metallurgical coal at Lubu, as well as its viability in the manufacture of coke. This positive news has come at a time when demand for all forms of coal has risen significantly and has led to an increase in the metallurgical coal price from USD161/tonne to USD451/tonne over the last year," says Chief Executive Officer Carl Esprey.
Current stock price: 7.80 pence, up 7.6% on Friday
Year-to-date change: down 2.5%
By Dayo Laniyan; [email protected]
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