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. (OTC:CTGO) is a well-capitalized US gold developer focused on producing an average of 65,000 GEO/year at an AISC of $750/GEO. With less than 6 million shares issued and $35 million in cash, the company can fund production without dilution. Contango recently formed a partnership with Kinross Gold Corporation for the Peak Gold JV, where ore will be processed at Kinross' Fort Knox complex, reducing upfront capital costs and accelerating development. The company explores gold, silver, and copper ores in Alaska, with a primary focus on the Tetlin Property near Tok, Alaska.
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
12.32%
Tags
-
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
-
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.22%
Tags
-
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.1%
Tags
-
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.05%
Tags
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.55%
Tags
-
Rhea-AI Summary
Contango ORE, Inc. (CTGO) Announces Pricing of Public Offering, Expects $30.4M in Gross Proceeds. The company plans to use the funds for contribution obligations to the Peak Gold JV, exploration drilling at the Lucky Shot project, and working capital requirements. President and CEO, Rick Van Nieuwenhuyse, highlights the importance of the financing for reaching production at the Manh Choh mine and increasing market awareness.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-29.43%
Tags
-
Rhea-AI Summary
Contango ORE, Inc. has announced the commencement of an underwritten public offering of its common stock. The offering includes an option for underwriters to purchase additional shares. The net proceeds will be used to fund contribution obligations to the Peak Gold JV, exploration drilling at the Lucky Shot project, and working capital requirements. Maxim Group LLC and Freedom Capital Markets are the joint book-runners for the offering.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-29.43%
Tags
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.56%
Tags
FAQ
What is the current stock price of Contango ORE (CTGO)?
The current stock price of Contango ORE (CTGO) is $19.22 as of November 21, 2024.
What is the market cap of Contango ORE (CTGO)?
The market cap of Contango ORE (CTGO) is approximately 230.5M.
What is Contango ORE, Inc.'s focus?
Contango ORE, Inc. is primarily focused on producing an average of 65,000 GEO/year at an AISC of $750/GEO.
Who did Contango ORE, Inc. recently partner with?
Contango ORE, Inc. recently formed a partnership with Kinross Gold Corporation for the Peak Gold JV.
Where is the Tetlin Property located?
The Tetlin Property, where Contango ORE, Inc. is exploring, is located near Tok, Alaska.
What are the benefits of the partnership with Kinross Gold Corporation?
The partnership with Kinross Gold Corporation will allow ore from the Peak Gold JV to be processed at Kinross' Fort Knox complex, reducing upfront capital costs and accelerating development.
How does Contango ORE, Inc. fund its production without dilution?
With less than 6 million shares issued and $35 million in cash, Contango ORE, Inc. can easily fund production without dilution.
What minerals does Contango ORE, Inc. explore?
Contango ORE, Inc. explores gold, silver, and copper ores in Alaska.
What is the significance of the Tetlin Property?
The Tetlin Property is located in the Tetlin Hills and Mentasta Mountains of eastern interior Alaska and is prospective for gold and associated minerals.
What are the advantages of exploring the Tetlin Property?
Exploring the Tetlin Property offers a shorter permitting and development timeline, smaller environmental footprint, and less overall risk for the project.
What is Contango ORE, Inc.'s financial condition?
Contango ORE, Inc. is well-capitalized with less than 6 million shares issued and $35 million in cash.
What is the expected free cash flow per share at current gold prices?
With current gold prices, Contango ORE, Inc. expects significant free cash flow per share.
What are the benefits of processing ore at Kinross' Fort Knox complex?
Processing ore at Kinross' Fort Knox complex will result in reduced upfront capital development costs and accelerate the development of the Peak Gold JV.
Contango ORE, Inc.