Contango Announces Acceptance of the Johnson Tract Critical Metals Project to the Covered Projects FAST-41 Program

Rhea-AI Summary

Contango (NYSE American: CTGO) announced that the Johnson Tract Critical Metals Project was accepted as a "covered project" into the Federal Permitting Improvement Steering Council's FAST-41 program on December 1, 2025. The company said the designation will provide enhanced coordination with the US Army Corps of Engineers, cooperating state and federal agencies, and CIRI, and aims to deliver more predictable timelines, improved public transparency, and accountability during permitting.

The release notes FAST-41's structured permitting process, public Permitting Dashboard, and references a August 27, 2025 Memorandum of Understanding between the Permitting Council and the State of Alaska to support federal-state cooperation under FAST-41.

Positive

• FAST-41 coverage confirmed on Dec 1, 2025
• Federal-state MOU referenced dated Aug 27, 2025
• Improved permitting coordination with USACE and agencies

Negative

• None.

News Market Reaction

+6.27%

1 alert

+6.27% News Effect

On the day this news was published, CTGO gained 6.27%, reflecting a notable positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

FAST-41 acceptance date: December 1, 2025 FAST-41 title: Title 41 FAST-41 enactment year: 2015 +1 more

4 metrics

FAST-41 acceptance date December 1, 2025 Johnson Tract Critical Metals Project covered project designation

FAST-41 title Title 41 Fixing America's Surface Transportation Act

FAST-41 enactment year 2015 Year Title 41 of the FAST Act was established

Alaska MOU date August 27, 2025 MOU between Permitting Council and State of Alaska

Market Reality Check

Price: $27.71 Vol: Volume 186,746 is above t...

high vol

$27.71 Last Close

Volume Volume 186,746 is above the 20-day average of 121,381 (relative volume 1.54). high

Technical Price at $27.56 is trading above the 200-day MA of $18.84 and 4.04% below the 52-week high.

Peers on Argus

CTGO fell 1.92% while key gold peers (e.g., VGZ +14.07%, HYMC +5.01%, GLDG +2.94...

CTGO fell 1.92% while key gold peers (e.g., VGZ +14.07%, HYMC +5.01%, GLDG +2.94%) mostly traded higher, pointing to a stock-specific move despite positive permitting news.

Historical Context

5 past events · Latest: Dec 08 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 08	Merger announcement	Positive	-0.8%	Merger-of-equals with Dolly Varden to form Contango Silver & Gold Inc.
Dec 02	Permitting update	Positive	+6.3%	Johnson Tract accepted as FAST-41 covered project, improving permitting visibility.
Nov 19	Project development	Positive	-2.8%	Start of Lucky Shot drill program to support a feasibility study.
Nov 13	Earnings update	Positive	-3.5%	Record income from operations and strong cash for Q3 2025.
Oct 02	Production update	Positive	-2.4%	Peak Gold JV campaign produced 17,000 oz and paid $33M cash distribution.

Pattern Detected

Across recent largely positive operational, financial, and strategic updates, CTGO more often traded down than up, with only the FAST-41 permitting news coinciding with a strong positive reaction.

Recent Company History

Over the past few months, Contango reported multiple milestones: record quarterly operating income of $25.0M and strong cash in mid‑November, expanded production and cash distributions from the Peak Gold JV on Oct 2, and initiation of the Lucky Shot feasibility drill program on Nov 19. It then secured FAST‑41 covered‑project status for Johnson Tract on Dec 1, followed by a merger announcement on Dec 8. Despite generally constructive news, most events saw negative next‑day moves, highlighting a recent tendency for good news to be met with selling.

Market Pulse Summary

The stock moved +6.3% in the session following this news. A strong positive reaction aligns with the...

Analysis

The stock moved +6.3% in the session following this news. A strong positive reaction aligns with the constructive nature of the FAST‑41 designation, which provided enhanced coordination, transparency, and predictable permitting timelines for Johnson Tract as of December 1, 2025. Historical data show that most prior positive updates saw selling pressure, with only this permitting news linked to a clear upside move, so any large gain could have reflected a reassessment of project de‑risking and might have been vulnerable if profit‑taking behavior persisted.

Key Terms

fast-41, fixing america's surface transportation act, memorandum of understanding, permitting dashboard, +1 more

5 terms

fast-41 regulatory

"accepted the Johnson Tract Critical Metals Project as a "covered project" into the Federal Permitting Improvement Steering Council's FAST-41 program"

A FAST-41 designation comes from a U.S. law that sets up a coordinated, time-lined review process for large federal infrastructure projects, aiming to reduce delays by having agencies work together and meet clear deadlines. For investors, it matters because projects with FAST-41 oversight are likelier to reach permits and construction on schedule, reducing the risk of costly hold-ups much like a traffic controller clearing lanes so a convoy can move without unexpected stops.

fixing america's surface transportation act regulatory

"FAST-41 is the name for Title 41, established in 2015, of the Fixing America's Surface Transportation Act"

The Fixing America’s Surface Transportation Act (FAST Act) is a federal law that sets multi-year funding and rules for highways, bridges, public transit, and related transportation programs. Investors watch it because steady, predictable funding acts like a scheduled construction pipeline — it can boost revenue for contractors, materials suppliers, transit operators and local governments, while reducing uncertainty about future infrastructure projects and permitting changes.

memorandum of understanding regulatory

"announced a first-of-its-kind agreement with the State of Alaska by way of a Memorandum of Understanding (MOU)"

A memorandum of understanding (MOU) is a formal agreement between two or more parties that outlines their shared intentions and plans to work together. It acts like a handshake in writing, clarifying each side’s roles and expectations before any official contract is signed. For investors, an MOU signals that parties are serious about collaboration, which can influence future business opportunities and potential growth.

permitting dashboard regulatory

"It establishes a structured process and a public-facing Permitting Dashboard to track projects"

A permitting dashboard is a centralized visual summary that tracks the status of required government permissions, licenses and regulatory approvals for a project or operation. Investors use it like a flight-status board to see which permits are approved, pending, or delayed, because permit progress affects a company’s ability to start work, generate revenue, and face regulatory risk — making timelines and costs easier to assess at a glance.

federal permitting improvement steering council regulatory

"the Federal Permitting Improvement Steering Council's FAST-41 program"

A federal permitting improvement steering council is a government body that coordinates and speeds up the approval process for projects that need multiple federal permits, like energy, transportation or construction projects. Think of it as a traffic cop or project manager who helps different agencies agree on timelines and steps; faster, clearer permitting matters to investors because it reduces delays, uncertainty, and cost overruns that can affect a project's cash flow and returns.

AI-generated analysis. Not financial advice.

FAIRBANKS, Alaska, Dec. 2, 2025 /PRNewswire/ - Contango ORE, Inc. ("Contango" or the "Company") (NYSE American: CTGO) is pleased to announce the acceptance of the Johnson Tract Critical Metals Project as a "covered project" into the Federal Permitting Improvement Steering Council's FAST-41 program ("FAST-41") on December 1, 2025. 

Rick Van Nieuwenhuyse, the Company's President & CEO said "Contango would like to thank the Permitting Council and the US Army Corp of Engineers (USACE) for including the Johnson Tract Critical Metals Project to the full coverage projects list in the FAST-41 program. We look forward to working closely with the USACE, cooperating State and Federal agencies, and CIRI and their stakeholders. We are committed to advancing the Johnson Tract Critical Metals Project through the permitting process with enhanced coordination, predictable timelines, improved public transparency, and accountability to ensure this project meets the highest standards of environmental stewardship and regulatory compliance. We appreciate the Council's continued guidance and partnership, and we look forward to ongoing engagement as the Johnson Tract Critical Metals Project progresses under the FAST-41 covered projects framework." 

Background on FAST-41

FAST-41 is the name for Title 41, established in 2015, of the Fixing America's Surface Transportation Act passed under the Obama Administration, which aims to improve the federal permitting process for large infrastructure projects by increasing transparency, coordination, and accountability. It establishes a structured process and a public-facing Permitting Dashboard to track projects, coordinate among agencies, and set public timetables for environmental reviews and authorizations and is led and managed by the Federal Permitting Improvement Steering Council (Permitting Council). This helps ensure projects move forward efficiently and predictably. Furthermore, on August 27, 2025, the Permitting Council announced a first-of-its-kind agreement with the State of Alaska by way of a Memorandum of Understanding (MOU). This MOU provides for federal permitting assistance through the FAST-41 program, as the State and Federal governments work together to identify projects for coverage in addition to providing the State of Alaska with a wide variety of support for increased transparency, coordination, and accountability.

ABOUT CONTANGO

Contango is a NYSE American listed company that engages in exploration for gold and associated minerals in Alaska. Contango holds a 30% interest in the Peak Gold JV, which leases approximately 675,000 acres of land for exploration and development on the Manh Choh project, with the remaining 70% owned by KG Mining (Alaska), Inc., an indirect subsidiary of Kinross Gold Corporation, operator of the Peak Gold JV. The Company and its subsidiaries also have (i) a lease on the Johnson Tract project from the underlying owner, CIRI, (ii) a lease on the Lucky Shot project from the underlying owner, Alaska Hardrock Inc., (iii) 100% ownership of approximately 8,600 acres of peripheral State of Alaska mining claims, and (iv) a 100% interest in approximately 145,000 acres of State of Alaska mining claims that give Contango the exclusive right to explore and develop minerals on these lands. Additional information can be found on our web page at www.contangoore.com.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements regarding Contango that are intended to be covered by the safe harbor for "forward-looking statements" provided by the Private Securities Litigation Reform Act of 1995, based on Contango's current expectations and includes statements regarding future results of operations, quality and nature of the asset base, the assumptions upon which estimates are based and other expectations, beliefs, plans, objectives, assumptions, strategies or statements about future events or performance (often, but not always, using words such as "expects", "projects", "anticipates", "plans", "estimates", "potential", "possible", "probable", or "intends", or stating that certain actions, events or results "may", "will", "should", or "could" be taken, occur or be achieved). Forward-looking statements are based on current expectations, estimates and projections that involve a number of risks and uncertainties, which could cause actual results to differ materially from those reflected in the statements. These risks include, but are not limited to: the risks of the exploration and the mining industry (for example, operational risks in exploring for and developing mineral reserves; risks and uncertainties involving geology; the speculative nature of the mining industry; the uncertainty of estimates and projections relating to future production, costs and expenses; the volatility of natural resources prices, including prices of gold and associated minerals; the existence and extent of commercially exploitable minerals in properties acquired by Contango or the Peak Gold JV; ability to realize the anticipated benefits of the Peak Gold JV; potential delays or changes in plans with respect to exploration or development projects or capital expenditures; the interpretation of exploration results and the estimation of mineral resources; the loss of key employees or consultants; health, safety and environmental risks and risks related to weather and other natural disasters); uncertainties as to the availability and cost of financing; Contango's inability to retain or maintain its relative ownership interest in the Peak Gold JV; inability to realize expected value from acquisitions; inability of our management team to execute its plans to meet its goals; the extent of disruptions caused by an outbreak of disease, such as the COVID-19 pandemic; and the possibility that government policies may change, political developments may occur or governmental approvals may be delayed or withheld, including as a result of presidential and congressional elections in the U.S. or the inability to obtain mining permits. Additional information on these and other factors which could affect Contango's exploration program or financial results are included in Contango's other reports on file with the U.S. Securities and Exchange Commission. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from the projections in the forward-looking statements. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made. Contango does not assume any obligation to update forward-looking statements should circumstances or management's estimates or opinions change.

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SOURCE Contango Ore

FAQ

What does FAST-41 coverage mean for Contango's Johnson Tract project (CTGO) on Dec 1, 2025?

FAST-41 coverage means the project is a designated "covered project" and will use the Permitting Council's structured process and public Permitting Dashboard for coordination and timelines.

How will FAST-41 change permitting timelines for CTGO's Johnson Tract project?

The company said FAST-41 aims to provide more predictable timelines through enhanced interagency coordination and public timetables.

Who will Contango coordinate with under FAST-41 for the Johnson Tract project (CTGO)?

Contango identified coordination with the US Army Corps of Engineers, cooperating state and federal agencies, and CIRI and stakeholders.

When was the federal-state MOU that supports FAST-41 in Alaska signed relevant to CTGO?

The Permitting Council announced a Memorandum of Understanding with the State of Alaska on August 27, 2025 to support federal permitting assistance through FAST-41.

Will FAST-41 increase public transparency for Contango's Johnson Tract project (CTGO)?

Yes; FAST-41 includes a public-facing Permitting Dashboard designed to increase transparency and set public timetables for reviews and authorizations.