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[QUOTE="Queen, post: 87630, member: 27"]
Formal registration of a new majority operator just locked in the next phase for a coal project sitting on over 19,000 hectares in Zimbabwe's Hwange district.

Muchesu coal project shakeup
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[*]Pacific Goal Investments grabbed 51% of Monaf Investments and runs operations.
[*]Contango Holdings keeps a 24% stake in the venture.
[*]A July 2024 deal originally handed control to Huo Investments.
[*]Huo later shifted all rights and its US$20 million facility over to PGI.
[/LIST]
Money and growth pipeline
[LIST]
[*]Contango's guaranteed royalty floor sits at US$2 million annually.
[*]Fresh coke oven builds will ramp up metallurgical coal processing.
[*]PGI picked up the full US$20 million investment commitment from Huo.
[*]Muchesu spans the Karroo Mid-Zambezi coal basin area.
[/LIST]
Corporate backdrop
[LIST]
[*]Contango Holdings is a British-based natural resources outfit.
[*]Gordon Thompson chairs the board and flagged the operator alignment.
[*]CEO Daniel Dos Santos called it a meaningful partnership evolution.
[*]Huo still holds a 20.42% shareholding in Contango itself.
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