Contango Holdings - CGO - Share chat
There’s some good information in the forum link for it already.
This is how i see things.
When Thungela was listed it was already a fully function mine when people wanted nothing to do with dirty coal. Since then it’s gone up 1000%.
When BEN listed it was to buy and reboot an abondoned metalurgical coal mine and was producing in a matter of months and has since gone up 800%
Contango (cgo) is a little different as it started from scratch. But at the start of this month it has started producing and stockpiling for when its washplant is ready which should only be a matter of months.
BEN was lucky in the fact that it got an offtake agreement almost as soon as it listed and the offtake company didn’t care that the coal was unwashed so the money started coming in really quickly.
Things could go the same way with CGO in that they could get an early offtake agreement for when the coal is ready or even if it’s unwashed, but my hope is that even if it takes a few months things will happen.
My only worry is that with coal having such a resurgance whether it’s metalurgical coal or thermal coal, i don’t know if things will turn against it in terms of it not being the green future people are banging on about.
As always ‘do your own research’ but i’m in this for the forseeable future and plan on topping up every chance i get. I’m currently 16.66% down, and happy about it as i don’t like to put money in stuff when it’s in the green.