CGH’s original business objective was to compile and develop a pan-African portfolio of coal and iron ore assets. CGH (originally known as Sable Mining Africa Limited) successfully acquired a portfolio of prospective coal assets in Zimbabwe whilst concentrating the majority of its focus and expenditure on progressing its Mount Nimba iron ore project in South Eastern Guinea up the value chain. Despite this, the long term effects of factors including political instability, public health emergencies, the impact of the depressed bulk commodities markets, unpredictability of legal systems and adverse press speculation have caused significant harm to CGH’s long term prospects as a mineral exploration and development business. In this context, the Board of CGH intends to realise maximum value from the company’s existing asset base.
CGH has a strong cash position and realising further value from its existing asset base will enable the Board to invest the company’s resources into a revenue generating project/asset portfolio, with a geographic focus on southern and central Africa.