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Contango Holdings Plc ( (GB:CGO) ) just unveiled an announcement.
Contango Holdings Plc has announced a variation to its strategic partnership for the Muchesu coal project in Zimbabwe. The changes involve Pacific Goal Investments (PGI) taking over the 51% equity interest in Muchesu, previously held by Huo Investments. PGI, part of the Pacific Goal Group, brings extensive operational expertise in Zimbabwe, which is expected to enhance the project’s development. The partnership structure is strengthened with PGI’s involvement, while Huo Investments continues to support through its shareholding. The revised agreements maintain the existing royalty terms and prioritize royalty payments to Contango, followed by debt repayments.
More about Contango Holdings Plc
Contango Holdings Plc is a company focused on the development and value extraction from the Muchesu coal project in Zimbabwe. The company is involved in mining operations and infrastructure development, with a significant focus on coal production.
Average Trading Volume: 2,403,138
Technical Sentiment Signal: Sell
Current Market Cap: £6.06M
See more data about CGO stock on TipRanks’ Stock Analysis page.