Contango Holdings Plc (GB:CGO) has released an update.
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Contango Holdings PLC has advanced its operations at the Muchesu coal project in Zimbabwe following a £940,000 capital raise, successfully mining and preparing coal samples for potential southern African customers. The company is optimistic about solidifying several long-term offtake contracts this quarter, with current discussions indicating a demand of over 50,000 tonnes per month. Alongside operational progress, Contango is also exploring joint ventures or sale opportunities for the mine, with updates to be provided to shareholders.
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