Contango Holdings (CGO), a company focused on unlocking value from the +2 billion tonne Muchesu coal project in Zimbabwe announced it has received a proposal from PGI and Huo Investments to subscribe for approximately £5,000,000 through the issue of an aggregate of 450,450,451 new ordinary shares of the Company at a price of 1.11 pence per share.
The Subscription price is a 39% premium to the mid-market closing price on 12 February 2026. PGI and Huo Investments intend to subscribe for 358,680,794 and 91,769,657 new ordinary shares respectively, thus giving the Strategic Investors proposed ownership of 29.7% and 20.4% respectively, in the enlarged share capital. Huo Investments currently holds 154,750,000 ordinary shares in the Company, whilst PGI does not currently have a shareholding in the Company. The Proposed Subscription is subject to the passing of certain resolutions at a General Meeting and obtaining a Waiver of Rule 9 of the Takeover Code.
Comment: This may have taken rather longer than people were looking for, say a few years, but it can be seen that via PGI and Huo the cavalry have finally arrived. That said, one wonders whether this is part of the China land grab for commodities that we have an ongoing war regarding security, supply and prices.
East Star Resources Plc (EST), the Kazakhstan-focused gold and base metals explorer, will host a presentation and Q&A via the Investor Meet Company platform at 10.00 a.m. GMT on Wednesday, 18 February 2026. The presentation, titled ‘East Star Strategy for 2026 and Beyond’, will discuss East Star’s copper and gold exploration pipeline. The presentation, which will be hosted by Alex Walker, East Star’s CEO, is open to all existing and potential shareholders. Questions can be submitted pre-event via the Investor Meet Company dashboard up until 9.00 a.m. GMT on 17 February 2026, or at any time during the presentation.
Comment: This is certainly a good time for EST to spread the word regarding its recent significant achievements. While the share price and sentiment towards the company has improved of late, it could still be improved on by a considerable amount.
Helix Exploration (HEX), the helium exploration and development company with near-term production assets within the ‘Montana Helium Fairway’, provided an operational update on its flagship Rudyard project. During the final stages of commissioning, the Company identified a minor technical issue with the Variable Speed Drive, which had temporarily delayed the start of helium production. The issue has since been resolved, and the VSD is now operating seamlessly. Helix intends to provide a further update to the market regarding its production milestone together with a broader operational update, during the week commencing 16 February 2026. Once production is underway, Helix plans to host several prospective offtake partners at the Rudyard site. The Company will evaluate potential offtake arrangements with a focus on securing the most attractive terms to maximise shareholder value.
Comment: At first glance it seemed to look that HEX was serving up a “dog ate my homework” RNS. But actually it is an upbeat, business as usual one. Offtakes really would move the dial, and get the shares over the long standing 30p barrier.
Georgina Energy (GEX) announced that Clear Capital Markets has published an initiation note, available on the Company’s website: https://www.georginaenergy.com/investors/results-reports-presentations/ The note reviews in depth Georgina’s Hussar and Mt Winter assets, as well as the opportunities presented by Mt Kitty, Dukas, Mahler/Magee, owned by Central Petroleum, which Georgina is currently in the process of acquiring. Overall, the key takeaway is that the portfolio has transitioned from frontier exploration toward re-entry and appraisal, marking a clear step-change in maturity and risk profile. The initiation note also references the Company’s structured offtake-led funding approach, including the recently announced $25 million Harlequin facility to fund the Hussar drilling programme, alongside wellhead sales/offtake pathways as part of the Company’s commercialisation strategy.
Comment: What does not kill you makes you stronger has really worked in the case of GEX, although those who know the company / management have always known this is a team with grit and determination. It would only be fair if the share price heads north of 10p in coming weeks.
Delta Gold Technologies (DGQ) – developing intellectual property aimed at the quantum computing space that can be licensed globally – Announced research sponsorship and exclusive technology licensing agreement with Penn State University in Pennsylvania, US. Delta will sponsor a first year research programme estimated to be up to USD997,142 which will be paid to Penn State on a cost reimbursement basis. “The research will extend existing work on gold-based quantum technologies with the aim of generating valuable intellectual property,” Delta says. The total cost reimbursable contract is for up to around USD3.0 million over three years.
Comment: It still is a source of satisfaction that DGQ has played such a blinder in terms of newsflow and share price since it came to market. Obviously, this is a combination of the business model, management and advisors. We are assuming a move for the share price on into the 30p’s is on its way soon.
Disclaimer & Declaration of Interest:
The information, investment views, and recommendations in this Zaks Traders Cafe interview are provided for general information purposes only. Nothing in this interview should be construed as a promotion or solicitation to buy or sell any financial product relating to any companies under discussion or referred to or to engage in or refrain from doing so or engage in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the commentator but no responsibility is accepted for actions based on such opinions or comments. The commentators may or may not hold investments in the companies under discussion.
