Contango ORE, Inc. - CTGO STOCK NEWS

BTV Business Television announces its upcoming broadcast on FOX Business News featuring eight emerging companies in the mining and biotech sectors. Among them, Lexaria Bioscience (NASDAQ: LEXX) is highlighted for its DehydraTECH™ technology, which enhances oral drug bioavailability and efficacy, particularly in the GLP-1 market. The technology promises improved absorption, extended drug retention, and reduced side effects. The broadcast will air on December 1, 2024, showcasing various companies' developments in gold mining, metals, and pharmaceutical innovation.

Contango ORE (NYSE American: CTGO) provided updated guidance for its 30% interest in the Peak Gold JV's Manh Choh mine. The company reaffirmed its anticipated 2025 gold production of 60,000 ounces but announced increased all-in sustaining costs (AISC). The life-of-mine AISC is projected to rise to $1,400 per oz from $1,116, with 2025 AISC expected at $1,625 per oz. The increase is primarily due to weight restrictions on the Chena Flood Plain Bridge and higher ore moisture content, reducing annual ore transport by 20%. At $2,500/oz gold prices, Contango projects $50 million in 2025 cash distributions from the Peak Gold JV.

Contango ORE (NYSE American: CTGO) has announced results from its 2024 surface drill campaign at the Johnson Tract polymetallic gold project in Alaska. The project's JT Deposit has an Indicated Resource of 1.05 million ounces at 9.39 g/t gold equivalent. The 2024 program completed 3,000 meters of drilling across 18 infill holes and three hydrogeological test holes.

Key highlights include exceptional drill results such as 223.5m at 11.5 g/t AuEq in GT24-008 and 93.0m at 9.1 g/t AuEq in GT24-007. The company received a 404 Permit for constructing a 2.6-mile access road and is advancing towards feasibility studies and mine development using their DSO approach.

Contango ORE (NYSE American: CTGO) has announced results from its 2024 surface drill campaign at the Johnson Tract polymetallic gold project in Alaska. The program completed 3,000 meters across 21 drillholes, including infill drilling and hydrogeological testing. Key highlights include exceptional intercepts such as 223.5 meters at 11.5 g/t AuEq and 93.0 meters at 9.1 g/t AuEq. The company received a 404 Permit for constructing a 2.6-mile access road and is advancing toward a feasibility study. The project hosts the JT Deposit with an Indicated Resource of 1.05 million ounces at 9.39 g/t gold equivalent.

Contango ORE (NYSE American: CTGO) is highlighted among several mining companies in a BTV-Business Television broadcast. The company is noted for implementing a hybrid royalty model and strategic partnerships to achieve efficient gold mining operations. CTGO's approach involves utilizing existing infrastructure to reduce environmental impact while optimizing production timelines and costs.

Contango ORE reported Q3 2024 financial results, highlighting the commencement of gold production at Manh Choh with its first gold pour on July 8, 2024. The company's unrestricted cash position increased to $36.2M as of September 30, 2024. Gold production is expected near the upper end of 2024 guidance at approximately 38,500 ounces. The company realized an average blended gold price of $2,252 per ounce, with cash costs of $1,181 per ounce. Q3 2024 resulted in a net loss of $9.7M, including a non-cash expense of $22.9M related to unrealized loss on derivative contracts. The Peak Gold JV provided a cash distribution of $19.5M to the company.

Contango Ore Inc (NYSE American: CTGO) has announced its participation in the 50th Annual New Orleans Investment Conference on November 21st at the Hilton New Orleans Riverside. Rick Van Nieuwenhuyse, President & CEO, will deliver an investor presentation and conduct one-on-one meetings with investors. The conference brings together leading analysts and investors, featuring discussions on major asset classes, including Gold.

Contango ORE (NYSE American: CTGO) has received a $12.0 million cash distribution from the Peak Gold JV on October 24, 2024, representing its 30% share of profits from Campaign #2 ore processing. Since July 2024, the company has received total distributions of $31.5 million. After completing two campaigns and with a third underway, Contango's 30% share amounts to approximately 30,000 ounces of gold from Campaigns #1 and #2, with an additional expected 8,500 ounces from Campaign #3, targeting total 2024 production of approximately 38,500 ounces of gold.

Contango ORE (NYSE American: CTGO) has announced a significant cash distribution of $19.5 million from the Peak Gold JV, representing Contango's 30% share of profits from Campaign #1 ore processing at Manh Choh. The Peak Gold JV plans two additional campaigns in 2024, with the second already in progress. Contango anticipates at least one more cash distribution before year-end. The company projects its 2024 gold production share from the Peak Gold JV to range between 30,000 and 40,000 ounces. This distribution marks a notable milestone for Contango, demonstrating the project's ability to generate substantial cash flow and potentially signaling positive future returns for shareholders.