REG - Contango HoldingsPLC - Lubu Project Operational Update

Contango HoldingsAnnouncement

09/05/2023 12:45

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230509:nRSI8204Ya&default-theme=true

RNS Number : 8204Y  Contango Holdings PLC  09 May 2023

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

9 May 2023

Contango Holdings PLC

('Contango' or the 'Company')

 

Lubu Project Operational Update

Contango Holdings Plc, the London listed natural resource development company,
is pleased to provide a further update on operations at its Lubu coking coal
project in Zimbabwe.

Since the last update on 28 March 2023 the Company has now completed a number
of key activities with regard to commencing production at Lubu. These have
included:

·    Completion of grade control drilling

·    Completion of the pollution control dam and 600,000 litre settling
ponds

·    Removal of overburden enabling access to the targeted coking coal
seam

·    Studies and training in the laboratories

·    Connection of power to key infrastructure on site including the wash
plant and laboratories

·    Installation of the ramp and bins to feed the wash plant with Lubu
coal

 

This week the Company will connect its fully refurbished 600 tonnes-per-hour
screen to the wash plant, which is the final equipment requiring installation
ahead of first production. Accordingly, the Company anticipates the
commencement of processing and production of coking coal from next week, as
well as calibration of the processing equipment to optimise output. Further
updates will be released as appropriate.

 

 

 

 

 

 

 

 

Ramp and Bin

Settling Ponds

Pollution Control Dam

Grade Control Drilling

Drill core

Fleet

 

For additional photos of progress at Lubu, please visit the Company's website
(www.contango-holdings-plc.co.uk (http://www.contango-holdings-plc.co.uk) ) or
its official Twitter account (@ContangoPLC).

 

 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

 

 

 

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://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 (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDUKOAROAUVRAR