Contango ORE, Inc. - CTGO STOCK NEWS

Contango ORE, Inc. (CTGO) announced that its common stock has been approved for listing on the NYSE American, with trading expected to commence around November 24, 2021. This transition will enhance the company's profile in US capital markets, broadening investor reach and improving liquidity for current shareholders. Concurrently, CTGO will cease trading on the OTC Markets, and shareholders are not required to take any action. The company explores gold and minerals in Alaska, holding significant land leases and interests.

Contango ORE, Inc. (CTGO) held its annual stockholders' meeting on November 11, 2021, where directors including Brad Juneau and Rick Van Nieuwenhuyse were elected for another year. Key proposals approved include the appointment of Moss Adams LLP as independent auditors and the advisory vote on executive compensation. The company reported a net loss of $4.6 million for Q3 2021, a significant drop from a net income of $33.4 million the previous year. CORE plans significant projects at its Manh Choh and Lucky Shot properties, with an expected up-listing on the NYSE American by year-end.

Contango ORE, Inc. (OTCQB: CTGO) has filed a shelf registration statement on Form S-3 with the SEC, enabling the potential to raise up to $100 million through the sale of various securities, including common and preferred stock. This move aims to enhance the company's financial flexibility and access to capital, as stated by President and CEO Rick Van Nieuwenhuyse. The registration will be effective for three years once approved. Additionally, the statement allows for the resale of 415,000 shares by a stockholder, with no proceeds going to the company.

Contango ORE, Inc. (OTCQB: CTGO) will hold a virtual annual meeting for stockholders on November 11, 2021, at 11:00 a.m. CT. Stockholders of record as of September 27, 2021 can vote on key proposals, including the election of the Board of Directors, appointment of independent auditors, and approval of executive compensation. The proxy statement, detailing the meeting agenda, was filed with the Securities and Exchange Commission on October 4, 2021 and will be mailed to stockholders around October 8, 2021.

Contango ORE, Inc. (OTC-PINK: CTGO) has filed its Form 10-K for the year ending June 30, 2021. The company reported a net income of $23.9 million or $3.82 per share, a significant increase from a loss of $9.2 million the previous year. This improvement is attributed to the sale of a 30% stake in Peak Gold, LLC to Kinross Gold Corporation. Additionally, Chris Kennedy has been appointed General Manager of the Lucky Shot Mine, enhancing the company's operational expertise.

Contango ORE, Inc. (OTCQB: CTGO) has successfully acquired 100% of Alaska Gold Torrent, LLC from CRH Funding II PTE. LTD for up to $30 million. This includes an initial payment of $5 million and a promissory note of $6.25 million. The acquisition centers around the Lucky Shot Project in Alaska, historically significant for its gold production. The company is focused on further exploration, aiming for a 3-phase drilling program to unlock additional gold resources in the Willow Mining District, known for high-grade veins.

Contango ORE, Inc. (OTCQB: CTGO) has finalized a private placement sale of 523,809 shares at US$21 each, raising approximately US$10.9 million. This financing is primarily aimed at supporting exploration and development initiatives for Peak Gold, LLC, a joint venture with Kinross Gold. The Alaska Future Fund, managed by Barings, and CTGO's CEO Rick Van Nieuwenhuyse are key investors. The company's ongoing projects, including the Manh Choh project and summer field programs, are reported to be on track for 2021, bolstering investor confidence in the company's growth and strategic direction.

Contango ORE (OTCQB: CTGO) announced key updates regarding its operations. The Peak Gold Project is now renamed the Manh Choh Project, honoring the local Tetlin community. The company is advancing an $18 million budget for 2021, which includes extensive drilling efforts to enhance resource estimates and support environmental studies. Additionally, a Resource Report for the Manh Choh Project has been received, detailing valuable mineral resources, including 9,201,000 tons of measured and indicated resources with significant gold and silver grades. Permitting and a feasibility study are projected to proceed in 2021 and 2022.

Contango ORE, Inc. (OTCQB: CTGO) reported a net loss of $(3.2) million, or $(0.53) per share, for Q2 2020, compared to a loss of $(2.9) million or $(0.45) per share in the same quarter last year. However, for the six months ending December 31, 2020, the company recorded a net income of $30.2 million ($4.79 per share) due to a gain from the sale of equity in Peak Gold, LLC. As of year-end, Contango ORE had $31.9 million in cash and plans for an $18 million program at Peak Gold in 2021.