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Contango Ore Inc - CTGO STOCK NEWS

Welcome to our dedicated news page for Contango Ore (Ticker: CTGO), a resource for investors and traders seeking the latest updates and insights on Contango Ore.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Contango Ore's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Contango Ore's position in the market.

Rhea-AI Summary
Contango ORE, Inc. filed its Form 10-KT for the transition period ending December 31, 2023, reporting a net loss of $40.8 million for the six-month period. The company's decision to change its fiscal year end aims to align reporting with its equity investment in Peak Gold LLC. Contango also completed a Credit and Guaranty Agreement for a senior secured loan facility and invested in the Peak Gold JV for project development.
Rhea-AI Impact
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End-of-Day
12.32%
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Rhea-AI Summary
Contango Ore Inc (CTGO) to present at Red Cloud's Pre-PDAC 2024 Mining Showcase in Toronto. Rick Van Nieuwenhuyse will present on February 29th at 2:40 PM EST. Shareholders and interested parties invited to attend.
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Rhea-AI Summary
Contango Ore, Inc (NYSE American: CTGO) is inviting attendees to the Vancouver Resource Investment Conference, featuring notable keynote speakers and over 300 companies exploring and producing natural resources. The company highlights the shift towards de-globalization and the resulting increase in demand for key resources, positioning itself for potential investment opportunities.
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Rhea-AI Summary
Contango ORE, Inc. (NYSE American: CTGO) held its annual meeting of stockholders, electing directors and approving proposals. The company also filed its Form 10-Q, reporting a net loss of $13.1 million for the quarter ended September 30, 2023. The increase in net loss is attributed to a loss from its equity investment in Peak Gold, LLC and the loss on derivative contracts related to gold hedges. Rick Van Nieuwenhuyse, the President and CEO, expressed satisfaction with the progress of the Peak Gold JV.
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End-of-Day
1.22%
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News
Rhea-AI Summary
Contango ORE, Inc. reported a net loss of $39.7 million for the year ended June 30, 2023, compared to a net loss of $23.5 million for the prior year. The increase in net loss is due to higher pre-production costs. The company entered into a Credit and Guaranty Agreement for a senior secured loan facility of up to $70 million to fund its portion of the pre-production construction. The Manh Choh mine celebrated the commencement of mining operations, with production anticipated by the second half of 2024. The company raised net proceeds of $18 million from the issuance of shares and closed an underwritten public offering for gross proceeds of $30.4 million.
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Rhea-AI Sentiment
End-of-Day
5.1%
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Rhea-AI Summary
Contango ORE, Inc. announced that mining operations have started at its 30% owned Manh Choh Mine. The mine is expected to produce 225,000 gold equivalent ounces per year over a 4.5 year mine life. Contango's share of production is expected to average 67,500 GEO per year. The Company has also initiated a surface drilling program at its Lucky Shot project.
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0.05%
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-1.55%
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Rhea-AI Summary
Contango ORE, Inc. (CTGO) Announces Pricing of Public Offering, Expects $30.4M in Gross Proceeds. The company plans to use the funds for contribution obligations to the Peak Gold JV, exploration drilling at the Lucky Shot project, and working capital requirements. President and CEO, Rick Van Nieuwenhuyse, highlights the importance of the financing for reaching production at the Manh Choh mine and increasing market awareness.
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Rhea-AI Sentiment
End-of-Day
-29.43%
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Rhea-AI Summary
Contango ORE, Inc. has announced the commencement of an underwritten public offering of its common stock. The offering includes an option for underwriters to purchase additional shares. The net proceeds will be used to fund contribution obligations to the Peak Gold JV, exploration drilling at the Lucky Shot project, and working capital requirements. Maxim Group LLC and Freedom Capital Markets are the joint book-runners for the offering.
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Contango Ore Inc

NYSE:CTGO

CTGO Rankings

CTGO Stock Data

190.62M
5.49M
42.71%
27.82%
2.1%
Dimension Stone Mining and Quarrying
Mining, Quarrying, and Oil and Gas Extraction
Link
United States
Fairbanks

About CTGO

contango ore, inc. (otc:ctgo) recently completed a transaction that repositions the company as a well-capitalized us gold developer with a clear path to producing on average 65,000 geo/year at aisc of $750/geo. with less than 6 million shares issued and $35 million cash on hand, the company can easily meet its obligations to fund through to production without dilution. think about the free cash flow per share at current gold prices! how can we do this? the company recently formed a new partnership with kinross gold corporation - the peak gold jv (kinross 70% and contango 30% with kinross as manager and operator). ore from the peak gold jv will be processed at kinross' existing fort knox mining and milling complex. the use of the fort knox mill is expected to accelerate the development of peak gold and result in significantly reduced upfront capital development costs, smaller environmental footprint, a shorter permitting and development timeline and less overall risk for the project