Welcome to our dedicated page for Contango Ore news (Ticker: CTGO), a resource for investors and traders seeking the latest updates and insights on Contango Ore stock.
Contango Ore, Inc. (CTGO) provides investors and industry observers with comprehensive updates on its Alaska-focused gold exploration and strategic partnerships. This page aggregates official announcements, operational milestones, and corporate developments related to the company's mineral projects and joint ventures.
Access timely updates on CTGO's exploration progress at the Tetlin Property, Peak Gold JV operations with Kinross Gold, and resource development initiatives. The curated collection includes earnings reports, technical updates, and partnership announcements – essential resources for tracking the company's execution of its Alaska-focused gold strategy.
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Bookmark this page or check regularly for authoritative updates on CTGO's progress in developing cost-efficient gold production through established infrastructure and strategic alliances in North America's premier mining jurisdictions.
Contango ORE (NYSE American: CTGO) has received a $9 million cash distribution from the Peak Gold JV on April 24, 2025, bringing total distributions from Manh Choh profits to $33 million in 2025. The company has completed the first of four campaigns in 2025, producing approximately 20,000 ounces of gold for Contango's account, with the second campaign set to begin in mid-May 2025.
The company's 2025 gold production target remains at 60,000 ounces with all-in-sustaining costs of $1,625 per ounce. Contango has prepaid $8.2 million of principal against its credit facility, reducing the balance to $30.1 million. The company has also reduced its hedge contract by 11,939 ounces to 74,800 ounces. Q1-2025 financial results will be released on May 14, 2025, and a preliminary economic assessment for the Johnson Tract project is expected by end of April.
Contango ORE (NYSE American: CTGO) has announced significant board changes and set its 2025 Annual Meeting of Stockholders for June 10, 2025. The company has nominated two new independent directors: Michael Cinnamond, current SVP of Finance and CFO of B2Gold Corp, and Clynton Nauman, a mining executive with over 45 years of experience.
Current directors Joe Compofelice (serving since 2010) and Curtis Freeman (serving since 2022) will not stand for re-election, with their terms ending at the Annual Meeting. Their departure is not due to any disagreements with company operations or policies.
The virtual Annual Meeting will be held at 10:00 am Central Time, with proxy materials to be distributed after April 29, 2025 to stockholders of record as of April 11, 2025. The company has also announced deadlines for stockholder proposals and board nominations, set for April 28, 2025.
Contango (NYSE: CTGO) has received $24 million in cash distributions from Peak Gold JV in Q1-2025, comprising $9M from 2024 production profits and $15M from Campaign #1-2025's first half. The company completed Campaign #1-2025, processing 323,000 tons of ore with a 0.215 oz/ton average grade, yielding approximately 65,000 oz of recovered gold at 93.5% recovery rate.
Contango's 30% share amounts to approximately 19,500 oz of gold, exceeding original guidance of 15,000-18,000 oz. The company has already sold 13,961 oz, with remaining sales expected by late April. Full-year 2025 cash distributions are projected at $80 million, based on $2,800/oz gold price.
The company maintains its 2025 production guidance of 60,000 oz (30% share), with life-of-mine annual production expected at 58,750 oz through 2029. All-in sustaining costs are estimated at $1,400 per oz sold.
Contango ORE (NYSE: CTGO) reported its FY2024 financial results with mixed performance. The company's unrestricted cash position increased to $20.1M from $15.5M year-over-year. While reporting total income from operations of $26.3M, the company posted a net loss of $38.0M, largely due to a $34.3M non-cash expense from unrealized derivative losses.
The Manh Choh mine exceeded 2024 production guidance, delivering 41,325 ounces of gold (Contango's 30% share) at a cash cost of $1,209 per ounce, with an average selling price of $2,281 per ounce. The company has reduced its credit facility by 36% to $38.3M and settled 30% of its gold hedge contracts. For 2025, Contango projects gold production of 60,000 ounces across four campaigns.
The company received $40.5M in cash distributions from Peak Gold JV during FY2024. Operating cash flow improved significantly to $0.7M, compared to negative cash flows in previous periods. The company continues to advance its Johnson Tract project, with a preliminary economic assessment expected in the coming weeks.
Contango ORE (NYSE American: CTGO) has amended its credit facility, deferring $10.6M of principal repayments and 15,000 hedged gold ounces delivery to first half 2027, while extending facility maturity to June 30, 2027. The revised schedule allows exposure to spot gold prices on ~30% of net production for 2025-2026, 80% for 2027, and 100% thereafter.
The company projects its 30% share of Peak Gold JV cash flows, after debt and hedge deliveries, to be approximately $80M in 2027 and $70M in 2028, based on $2,500 gold price. The first gold production campaign of 2025 began February 7, with Contango's estimated share between 15,000-18,000 gold ounces.
The Peak Gold JV continues ore transportation from Manh Choh to Fort Knox on schedule, while working on initiatives to reduce costs and improve operations. A Johnson Tract project PEA is expected in March 2025.
Contango ORE (NYSE American: CTGO) announced a $9.0 million cash distribution from the Peak Gold JV on December 19, 2024, representing its 30% share of profits from Campaign #3 of Manh Choh ore processing. Since July 2024, the company has received total distributions of $40.5 million. 2024 production highlights include 42,000 ounces of gold and 16,330 ounces of silver (30% basis), exceeding initial guidance by approximately 30%. The company sold gold at an average blended price of $2,285 per ounce, generating total gold and silver sales of $95.4 million. Looking ahead, Contango's expected share of Manh Choh mine production for 2025 is 60,000 ounces of gold, with projected average annual production of 58,750 ounces through 2028 at estimated life-of-mine all-in sustaining costs of $1,400 per ounce.
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.
