Contango ORE, Inc. - CTGO STOCK NEWS

Contango ORE, Inc. provided an update on its Manh Choh project, operated by Kinross Gold , with first gold production expected in early Q3 2024. Mining operations and transportation of ore are progressing well, validating Contango's business model of identifying projects with access to infrastructure, sufficient grade, and simple permitting processes.

Contango ORE, Inc. (NYSE American: CTGO) is acquiring HighGold Mining Inc. in a deal valued at approximately US$37 million, with HighGold shareholders owning 15% of the combined company. The transaction aims to create a leading Alaskan gold company with growth potential and a strong portfolio. The deal benefits Contango shareholders with the addition of the high-grade Johnson Tract Project to their portfolio, while HighGold shareholders receive an upfront premium and participation in a growth-focused gold mining company.

Contango ORE, Inc. filed its Form 10-KT for the transition period ending December 31, 2023, reporting a net loss of $40.8 million for the six-month period. The company's decision to change its fiscal year end aims to align reporting with its equity investment in Peak Gold LLC. Contango also completed a Credit and Guaranty Agreement for a senior secured loan facility and invested in the Peak Gold JV for project development.

Contango Ore Inc (CTGO) to present at Red Cloud's Pre-PDAC 2024 Mining Showcase in Toronto. Rick Van Nieuwenhuyse will present on February 29th at 2:40 PM EST. Shareholders and interested parties invited to attend.

Contango Ore, Inc (NYSE American: CTGO) is inviting attendees to the Vancouver Resource Investment Conference, featuring notable keynote speakers and over 300 companies exploring and producing natural resources. The company highlights the shift towards de-globalization and the resulting increase in demand for key resources, positioning itself for potential investment opportunities.

Contango ORE, Inc. (NYSE American: CTGO) held its annual meeting of stockholders, electing directors and approving proposals. The company also filed its Form 10-Q, reporting a net loss of $13.1 million for the quarter ended September 30, 2023. The increase in net loss is attributed to a loss from its equity investment in Peak Gold, LLC and the loss on derivative contracts related to gold hedges. Rick Van Nieuwenhuyse, the President and CEO, expressed satisfaction with the progress of the Peak Gold JV.

Contango ORE, Inc. reported a net loss of $39.7 million for the year ended June 30, 2023, compared to a net loss of $23.5 million for the prior year. The increase in net loss is due to higher pre-production costs. The company entered into a Credit and Guaranty Agreement for a senior secured loan facility of up to $70 million to fund its portion of the pre-production construction. The Manh Choh mine celebrated the commencement of mining operations, with production anticipated by the second half of 2024. The company raised net proceeds of $18 million from the issuance of shares and closed an underwritten public offering for gross proceeds of $30.4 million.

Contango ORE, Inc. announced that mining operations have started at its 30% owned Manh Choh Mine. The mine is expected to produce 225,000 gold equivalent ounces per year over a 4.5 year mine life. Contango's share of production is expected to average 67,500 GEO per year. The Company has also initiated a surface drilling program at its Lucky Shot project.