Contango Ore Stock Price, News & Analysis

Contango ORE, Inc. (NYSE American: CTGO) is a mining company that engages in the exploration and development of gold and associated minerals in Alaska. According to its public disclosures, the company is listed on the NYSE American exchange and focuses on advancing a portfolio of projects through joint ventures, leases, and owned mining claims across the state.

Contango holds a 30% interest in Peak Gold, LLC (the Peak Gold JV), which leases a large land package for exploration and development on the Manh Choh project in Alaska. The remaining 70% of the Peak Gold JV is owned by KG Mining (Alaska), Inc., an indirect subsidiary of Kinross Gold Corporation, which operates the joint venture. Ore mined at the Manh Choh mine is trucked to Kinross's Fort Knox mine and milling complex in Fairbanks, Alaska for processing, and the mine has been described as a high-grade open pit operation. Cash distributions from the Peak Gold JV have become a key source of income for Contango, as reflected in multiple company news releases and SEC filings.

Core Projects and Asset Base

Beyond its interest in the Manh Choh project, Contango and its subsidiaries report a portfolio of exploration and development-stage assets in Alaska:

• A lease on the Johnson Tract project from the underlying owner, CIRI (Cook Inlet Regional, Inc. or CIRI Native Corporation, as described in company news releases).
• A lease on the Lucky Shot project from the underlying owner, Alaska Hardrock Inc.
• 100% ownership of approximately 8,600 acres of peripheral State of Alaska mining claims.
• 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.

The company has described its strategy as using cash flow from Manh Choh, through its Peak Gold JV interest, to advance development-stage assets such as Lucky Shot and Johnson Tract. Public statements highlight the use of a Direct Shipping Ore (DSO) model, in which ore from certain projects is intended to be shipped to existing processing facilities rather than processed on site.

Manh Choh Project and Peak Gold JV

The Manh Choh mine, operated within the Peak Gold JV, is a central asset for Contango. Company news releases report that the Peak Gold JV processes ore at the Fort Knox facility and that Contango receives cash distributions corresponding to its 30% interest. For example, Contango has reported production campaigns in which tens of thousands of ounces of gold were produced on a 100% basis, with Contango’s share of production and cash distributions detailed in quarterly updates. These disclosures show that Manh Choh has transitioned from development to production, providing operating income and cash flow.

Contango has also discussed hedge contracts and a credit facility in relation to Manh Choh, describing how cash distributions from the Peak Gold JV are used to strengthen its cash position, reduce debt, and reduce hedge balances. This financial structure is part of how the company manages risk and funds ongoing project work.

Lucky Shot Project

The Lucky Shot project is a high-grade gold project in Alaska held under lease from Alaska Hardrock Inc. Contango has announced a fully permitted status for Lucky Shot and has outlined plans to advance it to a mine production decision. Company news releases describe an underground in-fill drilling program and related work—such as hydrological, geotechnical, metallurgical, and geochemical testing—intended to support a feasibility-level mine and transportation plan. Contango has publicly indicated that it is targeting a DSO-based mine plan at Lucky Shot, with drilling and engineering work forming the basis for a future feasibility study.

The company has also reported mobilizing drill rigs for underground drilling at Lucky Shot and has described a multi-phase drill program designed to in-fill existing resources and test additional mineralized structures. These activities illustrate Contango’s focus on moving Lucky Shot along the development pipeline using data-driven resource modeling.

Johnson Tract Project

The Johnson Tract project is a critical metals and precious metals project in Alaska that Contango holds under lease from CIRI. Company disclosures describe Johnson Tract as a project with gold, silver, copper, zinc, and lead mineralization. A Technical Report Summary for Johnson Tract has been filed as an exhibit to a Form 8-K, and an amended version of that report was later filed to correct the listing of a qualified person signatory.

Contango has announced that the Johnson Tract Critical Metals Project was accepted as a “covered project” under the FAST-41 program, a federal permitting framework intended to improve coordination and transparency for large infrastructure projects. The company has stated that it is working with federal and state agencies, as well as CIRI and other stakeholders, to advance Johnson Tract through permitting with a focus on environmental stewardship and regulatory compliance. Field work at Johnson Tract has included baseline environmental and engineering studies and work related to permitting an underground exploration drift, a road, and a barge landing facility.

Capital Markets and Financing Activities

Contango’s SEC filings and press releases describe several capital markets transactions and financing steps. The company has conducted an underwritten public offering of common stock and pre-funded warrants, with net proceeds intended to fund advancement of the fully permitted Lucky Shot project to a mine production decision and to advance the Johnson Tract project, subject to permitting. Proceeds are also earmarked for road construction, camp winterization, construction of an exploration tunnel at Johnson Tract, and a feasibility-level mine plan, as well as general corporate purposes.

In addition, Contango has reported inclusion in the Global Junior Gold Miners Index (GDXJ), which it characterizes as a milestone that may bring broader market awareness. The company has also disclosed the use of a credit facility, periodic repayments of principal, and the use of hedge contracts and carry trades related to gold production.

Planned Merger with Dolly Varden Silver Corporation

Contango has entered into an Arrangement Agreement with Dolly Varden Silver Corporation, as described in a Form 8-K and a joint press release. Under this agreement, Contango, through a newly formed subsidiary, will acquire all of the issued and outstanding common shares of Dolly Varden in a merger-of-equals transaction conducted by way of a statutory plan of arrangement under the Business Corporations Act (British Columbia). The combined entity is referred to in public communications as “MergeCo.”

Upon completion of the transaction, existing Contango and Dolly Varden shareholders are expected to own approximately 50% each of the outstanding shares of the combined company on a fully diluted in-the-money basis. The combined company is expected to be renamed Contango Silver & Gold Inc., with governance and management drawn from both companies. The transaction is subject to shareholder approvals, court approval in British Columbia, regulatory and exchange approvals, and other customary closing conditions. Company disclosures state that closing is expected in the first calendar quarter of 2026, subject to satisfaction of these conditions.

Geographic Focus and Corporate Location

Contango’s operations are focused on Alaska, where it holds joint venture interests, leases, and owned mining claims. Public communications also describe the corporate office as being based in Fairbanks, Alaska, with a secondary office in Vancouver, British Columbia, in connection with the planned combination with Dolly Varden. The company’s SEC filings list its common stock as registered on the NYSE American under the symbol CTGO.

Regulatory Filings and Technical Reporting

Contango files periodic and current reports with the U.S. Securities and Exchange Commission, including Forms 10-Q and 8-K. The company has filed a Technical Report Summary for the Johnson Tract Project under SEC mining disclosure rules, and later filed an amended version to correct the identification of a qualified person signatory. The amended Technical Report Summary is incorporated by reference into an 8-K/A and is cited as current as of its effective date.

FAQs about Contango ORE, Inc. (CTGO)

• What does Contango ORE, Inc. do?
  Contango ORE, Inc. engages in the exploration for gold and associated minerals in Alaska. It holds a 30% interest in the Peak Gold JV on the Manh Choh project and has leases and mining claims covering projects such as Johnson Tract and Lucky Shot, along with additional State of Alaska mining claims.
• Where does Contango ORE operate?
  According to company disclosures, Contango’s projects are located in Alaska. Its interest in the Peak Gold JV covers land leased for the Manh Choh project, and it also holds the Johnson Tract and Lucky Shot projects and additional State of Alaska mining claims.
• What is the Peak Gold JV and the Manh Choh project?
  Peak Gold, LLC is a joint venture in which Contango holds a 30% interest and KG Mining (Alaska), Inc., an indirect subsidiary of Kinross Gold Corporation, holds 70% and operates the venture. The joint venture leases land for exploration and development on the Manh Choh project, and ore from the Manh Choh mine is trucked to the Fort Knox facility for processing.
• What are the Johnson Tract and Lucky Shot projects?
  Johnson Tract is a critical metals and precious metals project in Alaska that Contango holds under lease from CIRI. Lucky Shot is a high-grade gold project in Alaska held under lease from Alaska Hardrock Inc. Contango has described plans to advance both projects through drilling, engineering, and permitting work, with a DSO-based development approach.
• How does Contango describe its growth strategy?
  Company statements describe a strategy of using cash flow from its 30% interest in the Peak Gold JV at Manh Choh to advance development-stage assets such as Lucky Shot and Johnson Tract. Contango has also raised capital through an underwritten public offering to fund drilling, underground development, road construction, and feasibility-level studies.
• What is the planned merger with Dolly Varden Silver Corporation?
  Contango has entered into an Arrangement Agreement with Dolly Varden Silver Corporation to combine the two companies in a merger-of-equals transaction under the Business Corporations Act (British Columbia). The combined company is expected to be renamed Contango Silver & Gold Inc., with ownership split approximately 50/50 between existing Contango and Dolly Varden securityholders, subject to approvals and closing conditions.
• On which exchange is Contango ORE listed and what is its ticker?
  Contango ORE, Inc. is listed on the NYSE American, and its common stock trades under the ticker symbol CTGO, as indicated in its SEC filings.
• What is FAST-41 and how is it related to Contango?
  FAST-41 refers to Title 41 of the Fixing America's Surface Transportation Act, which establishes a federal permitting framework for large infrastructure projects. Contango has announced that the Johnson Tract Critical Metals Project has been accepted as a covered project under FAST-41, which is intended to improve coordination, transparency, and predictability in the permitting process.