TIDMCGO

RNS Number : 9982O

Contango Holdings PLC

06 February 2023

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

6 February 2023

Contango Holdings Plc

('Contango' or the 'Company')

Lubu Project Update:

Site Preparation and Assembly of the Wash Plant

Contango Holdings Plc, the London listed natural resource development company, is pleased to provide an update on its Lubu Coal Project in Zimbabwe ("Lubu") ahead of scheduled first coking coal production and sales by the end of Q1 2023.

The Company is pleased to report that the wash plant arrived at site on Friday 3 February and has been unloaded ahead of assembly. The wash plant site and foundations were prepared in anticipation of its delivery, therefore construction and assembly is expected to take approximately 3-4 weeks, with commissioning following thereafter. Once calibrated and operating efficiently the wash plant is expected to be able to produce 20,000 tonnes of washed coking coal per month.

In addition, the Company also expects to take delivery at site of its surface miner (Wirtgen 2200SM) in the coming days. The surface miner has a cutting width of 2200mm, ideal for selective mining, and can mine up to 500 tonnes per hour.

Finally, the laboratory is also expected to arrive at site in the first half of February. Following its delivery, all significant capital items will be at site enabling the Company to ramp up activity ahead of first production and sales at the end of Q1 2023.

Wash plant delivery to Lubu site

Unloading of wash plant at Lubu site

Unloading of wash plant at Lubu site

Unloading of wash plant at Lubu site

Wirtgen 2200SM surface miner

The Company will provide regular updates and photos, via its website (https://contango-holdings-plc.co.uk/) and twitter account (@ContangoPlc) over the coming weeks as construction and commissioning progresses.

**ENDS**

For further information, please visit www.contango-holdings-plc.co.uk or contact:

 
 Contango Holdings plc                E: contango@stbridespartners.co.uk 
  Chief Executive Officer 
  Carl Esprey 
 
 Tavira Financial Limited             T: +44 (0)20 7100 5100 
  Financial Adviser & Broker 
  Jonathan Evans 
 
 St Brides Partners Ltd               T: +44 (0)20 7236 1177 
  Financial PR & Investor Relations 
  Susie Geliher / Charlotte Page

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCUPUMAPUPWUQQ

(END) Dow Jones Newswires

February 06, 2023 02:00 ET (07:00 GMT)

Contango (LSE:CGO)
Historical Stock Chart
From Dec 2024 to Jan 2025 Click Here for more Contango Charts.
Contango (LSE:CGO)
Historical Stock Chart
From Jan 2024 to Jan 2025 Click Here for more Contango Charts.