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Completion of Pilot Coke Plant at Lubu Project

1 Mar 2023 07:08

RNS Number : 4223R
Contango Holdings PLC
01 March 2023

Contango Holdings Plc / Index: LSE / Epic: CGO / Sector: Natural Resources

1 March 2023

Contango Holdings Plc

('Contango' or the 'Company')


Completion of Pilot Coke Plant and first Coke Manufacture at Lubu Project


Contango Holdings Plc, the London listed natural resource development company, is pleased to advise that construction of a small-scale coke battery has been completed at the Lubu Coal Project in Zimbabwe ('Lubu'). The pilot coke plant has been constructed to provide on-site capability to manufacture coke from washed coking coal produced at Lubu for testing by future offtake partners and for the Company's internal studies and quality control. The ultimate coke batteries to be installed at Lubu for future production and sales will be considerably larger and a different specification.


As previously reported, to date the manufacture of coke and subsequent studies from washed coking coal from Lubu has taken place remotely, with highly encouraging results. The ability to now manufacture coke on site is a significant step, providing accurate in the field results, a crucial step in securing partners in the Company's coke manufacturing strategy.


First Coke Manufacture


Following completion of the pilot plant in February 2023, the Company has subsequently produced approximately 4 tonnes of coke, from a sample of washed coking coal from Lubu. A significant portion of this production will be delivered to the Multi-National Company that entered into a Memorandum of Understanding with Contango in December 2022. This is part of the ongoing due diligence process to confirm suitability for their requirements ahead of a potential transaction.


Carl Esprey, CEO of Contango, commented:


"Whilst the expected margins on our coking coal production are very attractive, we have always maintained the highest margin business stems from the manufacture of coke at Lubu. Accordingly, we have already completed numerous small-scale tests remotely to assess the coke characteristics from Lubu, with highly encouraging results.


"The completion of the pilot coke plant will now enable us to generate larger coke production for testing, something required to enable us to conclude discussions under our MOU and, as required, provide additional samples to other parties who have expressed interest in coke produced from Lubu.


"This is a notable step in the evolution of the Lubu Project and I look forward to providing further updates with respect to the planned manufacture of coke in due course."

Stacked coking ovens 'cooking' the coal at 900-1,100°C


'Cooked' coking coal being quenched by water




Final coke product


For further information, please visit or contact:


Contango Holdings plc

Chief Executive Officer

Carl Esprey





Tavira Financial Limited

Financial Adviser & Broker

Jonathan Evans



T: +44 (0)20 7100 5100


St Brides Partners Ltd

Financial PR & Investor Relations

Susie Geliher

T: +44 (0)20 7236 1177


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Date   Source Headline
9th Apr 20247:00 amRNSDirector/PDMR Shareholding
8th Apr 20247:00 amRNSPlacing & Operational Update
28th Feb 20244:13 pmRNSInterim Results for the six months to 30 Nov 2023
20th Dec 20237:10 amRNSMuchesu Project Update
8th Dec 202312:19 pmRNSStatement re Share Price Movement
29th Nov 202310:30 amRNSResult of AGM
3rd Nov 20231:00 pmRNSNotice of AGM
26th Oct 20237:00 amRNSStatement re Share Price Movement
30th Aug 20237:00 amRNSAward of Export Permit & First Sales from Muchesu
8th Aug 20237:00 amRNSWeighbridge Installation at Muchesu Coal Project
2nd Aug 20237:00 amRNSMuchesu Mine Opening Ceremony
20th Jul 20237:00 amRNSMuchesu Project Presentation
19th Jul 202312:48 pmRNSMuchesu Opening Ceremony
10th Jul 20237:00 amRNSNew Offtake Arrangement and Operational Update
22nd Jun 20231:00 pmRNSResponse re Speculation
22nd Jun 20237:00 amRNSFormal Opening Ceremony for Lubu Coal Mine
24th May 20237:00 amRNSWashed Coal Production Commences at Lubu
9th May 202312:35 pmRNSLubu Project Operational Update
28th Mar 20237:00 amRNSLubu Project Operational Update
1st Mar 20237:08 amRNSCompletion of Pilot Coke Plant at Lubu Project
27th Feb 20237:00 amRNSBoard Appointment
24th Feb 20237:00 amRNSInterim Results
6th Feb 20237:00 amRNSLubu Site Preparation and Assembly of Wash Plant
30th Jan 202311:26 amRNSResult of Annual General Meeting
4th Jan 202310:30 amRNSNotice of Annual General Meeting
14th Dec 20227:35 amRNSAward of EIA Certificate
5th Dec 20227:00 amRNSMOU Signed with a Leading Multi-National Company
30th Nov 20227:00 amRNSAudited Final Results for the Year to 31 May 2022
17th Nov 20224:40 pmRNSSecond Price Monitoring Extn
17th Nov 20224:35 pmRNSPrice Monitoring Extension
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17th Nov 20222:00 pmRNSPrice Monitoring Extension
16th Nov 20227:00 amRNSHolding(s) in Company
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8th Nov 20227:00 amRNSNew Corporate Presentation
1st Nov 20224:40 pmRNSPublication of Prospectus
31st Oct 20227:00 amRNSOversubscribed Placing of £7,500,000
29th Sep 20227:00 amRNSCommunity, Empowerment & Social Impact Award
28th Sep 20227:00 amRNSIssue of Final Results
16th Sep 202211:05 amRNSSecond Price Monitoring Extn
16th Sep 202211:00 amRNSPrice Monitoring Extension
16th Sep 20227:00 amRNSThermal Coal Strategy
6th Sep 20227:00 amRNSPositive Results: Lubu Coking Coal & Coke Tests
29th Jul 20223:00 pmRNSChange of Registered Office
8th Jul 20224:09 pmRNSHolding(s) in Company
8th Jul 20221:00 pmRNSCGH “in specie” Distribution
5th Jul 20222:26 pmRNSConversion of Convertible Loan
21st Jun 20224:41 pmRNSSecond Price Monitoring Extn
21st Jun 20224:36 pmRNSPrice Monitoring Extension

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