LONDON – Contango Holdings Plc, a natural resources company with a major coal project in Zimbabwe, announced today that its shares have been reinstated to trading on London Stock Exchange (LON:) Main Market. The restoration took place after November 22, 2024. the company’s annual report for the year ended May 31, 2024, after the suspension was lifted, was published.
The company’s operational, financial and corporate information, which was filed on November 29, 2024, detailed current progress, including the commencement of work on the Muchesu coal project. The project, which boasts more than 2 billion tonnes of coal, has seen the recent installation of a 3,000 tonnes per day dense media separation unit.
Contango CEO Carl Espray expressed his satisfaction with the resumption of trading, linking it to the positive developments at the Muchesu site. Eprey also mentioned waiting for the first royalty payment for the project, which is expected within a month.
Contango’s statement complies with Market Abuse Regulation (EU) No. 596/2014 under UK domestic law, which ensures that such inside information is now publicly available.
The news of the resumption of trade is an important step for Contango as it looks to advance its operations and capitalize on its assets in Zimbabwe. The company’s shares are included in the Share capital (transition) category of the Official List.
This announcement is based on a press release that provides a factual account of events without assumptions about the potential impact on the company or industry.
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