Contango Ore Stock Price, News & Analysis

Contango ORE (NYSE American: CTGO) has announced a webinar to discuss its recently completed $50 million financing and plans for its Lucky Shot and Johnson Tract properties. The company aims to increase gold production from 60,000 ounces to 200,000 ounces annually using its direct ship ore (DSO) model.

CEO Rick Van Nieuwenhuyse highlighted that with only 15.5 million shares outstanding and a strong balance sheet, Contango is positioned for growth while maintaining operations at Manh Choh and reducing hedge book and debt obligations. The company plans to report results from its third 2025 campaign soon.

Contango ORE (NYSE American: CTGO) has successfully closed a $50 million underwritten public offering of common stock and pre-funded warrants. The offering consisted of 1,975,000 common shares priced at $20.00 per share and pre-funded warrants to purchase 525,000 shares at $19.99 per share.

The proceeds will fund two key projects: the fully permitted Lucky Shot project's advancement toward a mine production decision, and the Johnson Tract project's development, including road construction, camp winterization, and exploration tunnel construction. Canaccord Genuity served as Sole Bookrunner, with Cormark Securities as Lead Manager.

Contango ORE (NYSE American: CTGO) has announced a $50 million underwritten public offering of common stock and pre-funded warrants. The offering consists of 1,975,000 common shares priced at $20.00 per share and pre-funded warrants to purchase 525,000 shares at $19.99 per share.

The proceeds will fund the advancement of two key projects: the fully permitted Lucky Shot project towards a mine production decision, and the Johnson Tract project's infrastructure development including road construction, camp winterization, and exploration tunnel construction. The offering is expected to close around September 26, 2025, with Canaccord Genuity acting as Sole Bookrunner.

Contango ORE (NYSE American: CTGO) has announced its inclusion in the Global Junior Gold Miners Index (GDXJ), effective at market close on September 19, 2025. This milestone is expected to increase the company's market visibility as it pursues its strategic goal of becoming a 200,000 gold equivalent ounce producer within the next 5 years.

The inclusion comes as part of GDXJ's quarterly review and rebalancing for the third quarter of 2025, marking a significant achievement in Contango's growth trajectory.

Contango (NYSE American: CTGO) reported exceptional Q2 2025 financial results, with record-high income from operations of $23.0 million and net income of $15.9 million ($1.26 per share). The company sold 17,764 ounces of gold during the quarter at favorable cash costs of $1,416 per ounce and AISC of $1,548 per ounce, below the 2025 target of $1,625.

Operating cash flow improved significantly to $36.9 million for YTD-2025, supported by $54.0 million in cash distributions from Peak Gold JV. The company's financial position strengthened with unrestricted cash of $36.5 million as of June 30, 2025, while reducing debt by repaying $8.2 million during Q2, lowering the outstanding balance to $30.1 million.

The third campaign of 2025 is set to begin August 14, with Contango's expected share of production at 15,000 ounces of gold, processing 250,000 tons at approximately 0.23 ounces per ton.

Contango ORE (NYSE American: CTGO) reported strong Q2 2025 production results, with 17,764 gold ounces sold at cash costs of $1,416 per ounce and AISC of $1,548 per ounce, below the 2025 target of $1,625. The company's Peak Gold JV processed 255,000 tons of ore with a 93% gold recovery rate.

Key financial highlights include $58.1 million in total gold sales and $30 million in cash distributions received from Peak Gold JV in Q2. The company reduced its hedge balance to 62,900 ounces through Carry Trade transactions and maintains its 2025 guidance of 60,000 ounces (30% basis). The company's unrestricted cash position stood at $36.5 million as of June 30, 2025, with debt reduction progress reducing the facility balance to $23.1 million.

Contango (NYSE American: CTGO) has received a $21 million cash distribution from the Peak Gold JV for Campaign #2-2025, bringing year-to-date distributions to $54 million. The company has produced approximately 36,000 ounces of gold year-to-date, maintaining its 2025 guidance of 60,000 ounces for its 30% share.

The company plans to early pay $7 million of principal against its credit facility, reducing the balance to $23 million. Contango has delivered 11,900 ounces of gold into hedge contracts, with remaining hedges expected to be 43,000 ounces by end of 2025. Total cash distributions for 2025 are projected to exceed $95 million, assuming a $3,100 per ounce gold price.

Contango ORE announced successful completion of its second 2025 production campaign at Peak Gold JV, producing 15,700 ounces of gold (Contango's 30% share). The JV processed 255,000 tons of ore with 0.220 oz/ton grade and 93% gold recovery, resulting in 52,000 total recovered ounces. The company expects a cash distribution exceeding $20M in June 2025. Mill throughput averaged 10,122 tons per day, 17% above plan and 25% higher than the first 2025 campaign. Contango maintains its 2025 production guidance of 60,000 ounces (30% share) with life-of-mine annual production expected at 58,750 ounces through 2029. Based on current projections and $3,200/oz gold price assumption, 2025 cash distributions are expected to exceed $93M, which will be used for strengthening cash position, debt reduction, and fulfilling hedge contracts.

Contango ORE (NYSE American: CTGO) held its 2025 Virtual Annual Meeting of Stockholders on June 10, 2025. Shareholders elected six directors to serve until the 2026 annual meeting: Brad Juneau, Clynton Nauman, Darwin Green, Michael Cinnamond, Richard A. Shortz, and Rick Van Nieuwenhuyse. Additionally, stockholders approved two key proposals: the ratification of Baker Tilly US, LLP (following their merger with Moss Adams LLP on June 3, 2025) as the company's independent auditors for fiscal year 2025, and a non-binding advisory vote approving the compensation of named executive officers.