LONDON – Contango Holdings Plc, the natural resources company with a significant coal project in Zimbabwe, announced today that its shares have been restored to trading on the London Stock Exchange (LON:)’s Main Market. The resumption follows the suspension lift that was applied for after the company’s Annual Report for the year ending May 31, 2024, was published on November 22, 2024.
The company’s operational, financial, and corporate update, which was provided on November 29, 2024, detailed current progressions, including the commencement of operations at the Muchesu coal project. The project, which boasts over 2 billion tonnes of coal, has seen the recent installation of a 3,000-tonne per day Dense Media Separation plant.
CEO of Contango, Carl Esprey, expressed satisfaction with the trading resumption, aligning it with positive developments at the Muchesu site. Esprey also mentioned the anticipation of the project’s first royalty payment expected within the month.
Contango’s statement is in compliance with the Market Abuse Regulation (EU) No. 596/2014 as part of UK Domestic Law, ensuring that such inside information is now public.
The news of trading restoration comes as a significant step for Contango, as it aims to advance its operations and capitalize on its assets in Zimbabwe. The company’s shares are listed under the Equity Shares (Transition) category of the Official List.
This announcement is based on a press release statement, providing a factual report of the events without speculation on the potential impact on the company or the industry.
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