Welcome to our dedicated page for CONTANGO SILVER & GOLD news (Ticker: CTGO), a resource for investors and traders seeking the latest updates and insights on CONTANGO SILVER & GOLD stock.
News for Contango ORE, Inc. (NYSE American: CTGO) centers on its gold and associated minerals exploration and development activities in Alaska and its corporate transactions. Company press releases and SEC-related announcements highlight production results, cash distributions from the Peak Gold JV at the Manh Choh project, financing events, project milestones, and a planned merger with Dolly Varden Silver Corporation.
Investors following CTGO news can expect regular updates on Manh Choh production campaigns, including ounces of gold produced and sold on a 30% basis to Contango, cash costs and all-in sustaining costs, and the size and timing of cash distributions from the Peak Gold JV. These updates often discuss how operating cash flow is used to reduce debt, manage hedge contracts, and strengthen the company’s balance sheet.
Another recurring news theme is the advancement of the Lucky Shot and Johnson Tract projects. Releases describe underground and surface drilling programs at Lucky Shot to support a feasibility-level mine and transportation plan using a Direct Shipping Ore model. At Johnson Tract, news has covered baseline environmental and engineering work, permitting for an underground exploration drift, and acceptance of the project as a covered project under the FAST-41 federal permitting program.
Contango’s news flow also includes capital markets and corporate developments, such as an underwritten public offering of common stock and pre-funded warrants, inclusion in the Global Junior Gold Miners Index (GDXJ), and the Arrangement Agreement with Dolly Varden Silver Corporation to form a combined company expected to be named Contango Silver & Gold Inc. These items provide context on how the company finances project development and positions itself in the broader precious metals sector.
By monitoring this CTGO news page, readers can track operational performance at Manh Choh, progress at development-stage projects, key permitting milestones, financing activities, and the status of the planned Dolly Varden transaction, all drawn from company-issued disclosures and regulatory filings.
Contango ORE, Inc. (OTCQB: CTGO) will hold a virtual annual meeting for stockholders on November 11, 2021, at 11:00 a.m. CT. Stockholders of record as of September 27, 2021 can vote on key proposals, including the election of the Board of Directors, appointment of independent auditors, and approval of executive compensation. The proxy statement, detailing the meeting agenda, was filed with the Securities and Exchange Commission on October 4, 2021 and will be mailed to stockholders around October 8, 2021.
Contango ORE, Inc. (OTC-PINK: CTGO) has filed its Form 10-K for the year ending June 30, 2021. The company reported a net income of $23.9 million or $3.82 per share, a significant increase from a loss of $9.2 million the previous year. This improvement is attributed to the sale of a 30% stake in Peak Gold, LLC to Kinross Gold Corporation. Additionally, Chris Kennedy has been appointed General Manager of the Lucky Shot Mine, enhancing the company's operational expertise.
Contango ORE, Inc. (OTCQB: CTGO) has successfully acquired 100% of Alaska Gold Torrent, LLC from CRH Funding II PTE. LTD for up to $30 million. This includes an initial payment of $5 million and a promissory note of $6.25 million. The acquisition centers around the Lucky Shot Project in Alaska, historically significant for its gold production. The company is focused on further exploration, aiming for a 3-phase drilling program to unlock additional gold resources in the Willow Mining District, known for high-grade veins.
Contango ORE, Inc. (OTCQB: CTGO) has finalized a private placement sale of 523,809 shares at US$21 each, raising approximately US$10.9 million. This financing is primarily aimed at supporting exploration and development initiatives for Peak Gold, LLC, a joint venture with Kinross Gold. The Alaska Future Fund, managed by Barings, and CTGO's CEO Rick Van Nieuwenhuyse are key investors. The company's ongoing projects, including the Manh Choh project and summer field programs, are reported to be on track for 2021, bolstering investor confidence in the company's growth and strategic direction.
Contango ORE (OTCQB: CTGO) announced key updates regarding its operations. The Peak Gold Project is now renamed the Manh Choh Project, honoring the local Tetlin community. The company is advancing an $18 million budget for 2021, which includes extensive drilling efforts to enhance resource estimates and support environmental studies. Additionally, a Resource Report for the Manh Choh Project has been received, detailing valuable mineral resources, including 9,201,000 tons of measured and indicated resources with significant gold and silver grades. Permitting and a feasibility study are projected to proceed in 2021 and 2022.
Contango ORE, Inc. (OTCQB: CTGO) reported a net loss of $(3.2) million, or $(0.53) per share, for Q2 2020, compared to a loss of $(2.9) million or $(0.45) per share in the same quarter last year. However, for the six months ending December 31, 2020, the company recorded a net income of $30.2 million ($4.79 per share) due to a gain from the sale of equity in Peak Gold, LLC. As of year-end, Contango ORE had $31.9 million in cash and plans for an $18 million program at Peak Gold in 2021.
Contango ORE, Inc. (OTCQB: CTGO) announced its 2021 exploration plans alongside the launch of a new company website. The approved budget for the Peak Gold project, its joint venture with Kinross Gold, is $18 million, with CTGO's share being $5.4 million. This budget focuses on in-fill drilling and engineering studies essential for a feasibility study. Additionally, the company will explore its 100%-owned Triple Z target and conduct further studies at the Eagle and Hona projects, which have shown promising gold anomalies. Shareholders can find detailed updates on the new website.
Contango ORE, Inc. (OTC PINK:CTGO) will present at the virtual Fall Investor Summit on November 16-18, 2020. The company, which is developing a gold mine in partnership with Kinross and the Tetlin Alaska Native Tribe, has completed a transaction that positions it as a well-capitalized gold developer. With $35 million cash and less than 6 million shares issued, it targets an average production of 65,000 GEO/year at an AISC of $750/GEO. The Peak Gold project aims for a production of 1 million ounces over a 4.5-year mine life starting in 2024.