Member Info for pawnsacrifice

re placing. I was re reading their Presentation just and they see quite clear on their funding plans.

"Large gold resource upgrade potential - 1.8Moz according to recent Independent Study
Low capex ($4m-$6m) to production which will be funded through debt and royalty prepayments
Initial targeted rate of 30kozpa with expected margins of c.$1,000/oz
Subsequent expansion potential will be funded through cash flow
First production expected from Lubu coking coal deposit in Q1 2021
2 existing LOIs in place for conversion into formal offtakes, expected in H1 2021
Projects have the capacity to generate EBIT of c.US$1m each per month, with additional upside
Total Board remuneration is sub £100K per annum, ensuring Board aligned with shareholders
and share performance"

Presentation reads quite well imho. Gives some confidence even with recent sp action.
https://contango-holdings-plc.co.uk/wp-content/uploads/2021/02/CONTANGO-_-121-Mining-Investment.pdf

Mr Larkin now owns over 16 million shares
Mr Leather now owns over 8 million shares

How many of these did they buy with real money? Any or were they all free carry via trading warrants/ yearly freebies etc etc.
Trying to get a handle on how much they've actually invested rather than taken from the trough?

Funny its exactly because of CGH's chequered past I don't believe they'll be sellers here.
Reversing their coalmine assets into CGO was their way back into the city where (I believe) they want to be.
If others want to sell on the past accusations completely understand but still buying in myself and took a few more today.

Same here Olderandwiser.
Would note I've seen nothing elsewhere that confirms the claims on the thread here that they're thinking of selling. Searched CGH as best I can but just a few posts on here so far so not exactly set in stone its true ( no offence intended).

Thanks AllanC, appreciated. If we have to be patient I don't mind on the presumption that so long as the operational side goes as planned the sp should eventually follow.
Does sound like they see value in the co. going forward though, this from Timelards link talks of profiting from CGO throughout 2021. Can't they do that if they sell all in May or June

"Andrew Groves, CEO of CGH, commented: "At the time of the purchase of the Lubu Project by Contango, key staff at CGH did not get the opportunity to receive any options nor equity linked incentives. We at CGH feel that now is an appropriate time to reward the team particularly ahead of developments throughout 2021. CGH now holds 41.04% and remains the largest shareholder of the Company."

Allan not knocking your post but you didn't answer where you're hearing this? All you've said is twitter?

They didn't have a £1.1m cashburn as they had slightly over £500k listing fees in that £1.1m so coupled with the fact that mining shut to conserve cash til the coal deal is struck they may well be ok for a while longer at least(by my calcs).
and then of course there was this in the last RNS...
" Moreover, this targeted underground approach is expected to be funded from existing cash resources, having minimised the upfront capital expenditure by Contango prior to finalising an offtake agreement, with the Potential Offtake Partner also bearing some of the testwork costs."

Apparently not.. from the previous RNS at least..

"Given the work already undertaken by Contango and the Potential Offtake Partner, the Company believes there will be a good level of confidence in the positive results of this testwork, which will enable the two parties to finalise the long-term formal offtake agreement. Moreover, this targeted underground approach is expected to be funded from existing cash resources, having minimised the upfront capital expenditure by Contango prior to finalising an offtake agreement, with the Potential Offtake Partner also bearing some of the testwork costs."

I've put the lack of movement down to plain old market indifference so far. Had the same last year with PRD at 4p. You just have to wait it out til the right RNS is released to interest the herd.

Thinking myself once they confirm this deal has the t,s crossed and the i's dotted we'll see some movement.
Gold project update end of month may help too if PoG's performance remains strong.

If we don't get a big rise I'll be topping up again.
Gold news to look forward to end of month too.
Happy days.

I emailed their PR co. start of this month and had a reply on the 5th to say they'd get in touch with the co. and see if they could get an update on the coal situation but obviously nowt came of it.

Yes beginning to wonder if we've been contangoed!
Shame as a simple update on the coal developments would likely settle investors nerves and help prop the price.

We were in the EU when they banned syms products though weren't we and where were syms "mates" then?
Your argument holds no water and it appears you're only making it because you need somewhere to preach.

Graduates? You means those that get themselves into horrendous debt whilst having their minds and thoughts institutionalised by our educational "system" before coming out to work at McDonalds would choose to stay in the confines of the eu whereas those living in the real world would choose independence?

If you really have intelligence I'm sure it wouldn't take too much effort to move yourself to the eu, might I suggest the real issue is you don't want to.

LOL Us highly skilled remainers,
Remoaners more like and if you want to be part of the eu, no problem. Move there.

Problem is we should never have joined the EU. The politicians lied to us and said it was only for the common market knowing all along it was for political unity.
They scammed the nation and eventually it came back and bit them on the butt.

We were in the EU when the problem began T o Doom and that didn't stop the europeans stuffing SYM for their own gains.
EU loves our money thats all they hate us and have done since we won the last war for them.

Not that surprising imo, they're tardy on reporting on the Chinese site visit last month. Punters likely waiting on confirmation before committing which isn't totally non understandable.

Gather its the top nappe may surprise with SDX Nico otherwise would generally agree with you on the excitement front.
Is interesting though as its if the toppe nappe comes into play on the 2nd drill they'll drill deeper on the third to check it again. Seems to be quite the anomaly for them.

I don't mind if you disagree with me GRH. Someone has to be wrong and if you're choosing to be that person who am I to argue? lol
Does it really matter though whether they do a back to back drill if the first is successful? Certainly won't matter if it dusts but I'd never bring up that thorny subject. lol

They've said in the RNS only one well GRH immediately GRH but later in the year sounds exciting (not that the first drill isn't)
"a further drilling programme, including appraisal and exploration wells, when the Star Valley rig becomes available again later in 2021."

Personally am still expecting mid/ late July as per SDX's RNS but who cares its on this summer.