Contango Holdings PLC - natural resource development company operating the Muchesu coal mine in Zimbabwe - On Friday, says the financial year ended May 31 has been "significant" as it has seen Contango transition from an exploration and development company to a production and revenue-generating company. Activities during the year ended May 31 were focussed on achieving first stable production of coking coal at the Muchesu coal project.
"We are now focussed on revenue growth and the optimisation and expansion of mining operations and given the size of our resource and the clear demand for our product, I am optimistic of the outlook for the remainder of our financial year," says Chief Executive Carl Esprey.
Current stock price: 3.80 pence
12-month change: down 44%
By Heather Rydings, Alliance News senior economics reporter
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Contango Hdg (CGO)