Contango gets US$1m royalty payment

CONTANGO Holdings says since February this year it received further royalty payments totalling US$500,000, bringing royalty receipts to date under the Mineral Royalty Agreement (MRA) with its investor, Huo Investments, to US$1 million.Contango has mineral claims to the two billion tonne Muchesu coal project in Binga. Under the agreement, Contango is guaranteed a minimum royalty…