REG - Contango HoldingsPLC - Lubu Site Preparation and Assembly of Wash Plant

Contango HoldingsAnnouncement

06/02/2023 07:00

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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

 

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