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CTGO-News
CTGO-Events
Contango Enters Agreement with CRH for $18.75M Milestone Payments
Contango announced that it has entered into an agreement to settle milestone payments totaling $18.75M on the Lucky Shot Project in exchange for $5M in cash and 100,000 common shares of the company. In addition, the company announced that it received a $9M cash distribution from the Peak Gold JV related to production from its second campaign of 2026 at the Manh Choh mine. On June 26, the company amended its membership interest purchase and sale agreement with CRH Funding II, a Singapore private limited corporation, to satisfy obligations totaling up to $18.75M if certain milestones were achieved on the Lucky Shot Project held by CRH. The consideration paid by Contango approximated $6.57M, comprised of the following: cash payment of $5M due on signing of the Amended MIPA. Issuance of 100,000 common shares of the company by July 6.
Contango Ore Files Automatic Mixed Securities Shelf
Contango Ore files automatic mixed securities shelf
Contango Ore Reports Q1 EPS of 83 Cents
Contango Ore reports Q1 EPS (83c) vs. ($1.88) last year
Manh Choh Reports Q1 Gold Sales of 26,710 Ounces
Reports Q1 26,710 oz. of gold and 50,142 oz. of silver sold. CEO Rick Van Nieuwenhuyse stated, "Q1 2026 was a period of significant operational transition and strategic growth. At Manh Choh, while harsh winter conditions and operational challenges impacted Q1 throughput and costs, we are pleased to report that we are now entering a high-production phase; we expect ore tons processed and ore grade processed to increase for the remainder of the year, as we transition into the higher-grade portions of the South Pit. Manh Choh remains on track to meet our 2026 guidance of 40K-45K ounces of gold production, which will set the stage for 2027, which we are guiding to 75K-80K ounces of gold production with cash costs of $1,200 to $1,300 per ounce sold and all-in sustaining costs of $1,300 to $1,400 per ounce sold. With this momentum, our cost guidance for the year remains firm. During the quarter we received a $9M cash distribution from the Peak Gold JV. Our cash on hand for the end of the quarter was $97.5 M an increase from $64.8 M at December 31, 2025. For 2026, we anticipate cash costs $1,900-$2,000 and all-in sustaining costs of $2,200-$2,300 per ounce of gold sold. Furthermore, we have strengthened our financial flexibility by reducing hedge contracts to 22K ounces and reduced our debt to $13.6 M, both of which we intend to fully settle by year-end."
Contango Ore Sees 2027 Gold Production of 75K-80K oz
Contango Ore sees 2027 gold production 75K-80K oz.
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