NEW YORK, Dec. 16, 2025 (GLOBE NEWSWIRE) -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to: Diamond Hill Investment Group, Inc. (NASDAQ: DHIL)’s sale to First Eagle Investments for $175.00 per share. If you are a Diamond Hill shareholder, click here to learn more about your rights and options. Contango ORE, Inc. (NYSE American: CTGO)’s merger with D ...

Group 1 - Halper Sadeh LLC is investigating the fairness of the merger between Contango ORE, Inc. and Dolly Varden Silver Corporation for Contango shareholders [1] - Upon completion of the merger, Contango shareholders will own approximately 50% of the combined company [1]

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Core Viewpoint - Two companies, Contango Ore and Dolly Varden Silver, are planning to merge, which is a significant development in the industry [2]. Group 1: Merger Announcement - The CEOs of Contango Ore and Dolly Varden Silver, Rick Van Nieuwenhuyse and Shawn Khunkhun, are participating in a presentation regarding the proposed merger [1]. - The event includes a presentation deck outlining the details of the merger, followed by a Q&A session with analysts and an open forum for audience questions [2].

Summary of Contango Ore and Dolly Varden Silver Merger Conference Call Companies Involved - **Contango Ore (NYSEAM:CTGO)** - **Dolly Varden Silver** Core Points and Arguments 1. **Merger Announcement**: Contango Ore and Dolly Varden Silver announced their intention to merge, creating a combined company with a market capitalization of approximately $800 million USD or over CAD 1 billion [4][18][19]. 2. **Leadership Structure**: Post-merger, Rick Van Nieuwenhuyse from Contango will serve as CEO, Sean Khunkhun from Dolly Varden will be President, and Mike Clark will be CFO [18][47]. 3. **Asset Portfolio**: The merger will combine high-grade gold and silver projects in tier one jurisdictions, focusing on Alaska and the Golden Triangle in British Columbia [12][21][60]. 4. **Production Capacity**: Current production is approximately 60,000 ounces of gold per year from the Manh Choh mine, with plans to increase to 200,000 ounces through the development of Lucky Shot and Johnson Tract [41][52]. 5. **High-Grade Assets**: The combined portfolio includes high-grade projects with gold grades exceeding 10 grams per ton and silver grades over 300 grams per ton, which are expected to yield significant cash flow [12][22][56]. 6. **Direct Shipping Ore (DSO) Model**: The DSO model will be utilized to minimize capital expenditures and expedite production timelines, allowing for efficient transportation of high-grade ore to existing mills [24][58]. 7. **Geographic Synergy**: The merger capitalizes on geographic consistency, with both companies operating in the same mining districts, enhancing operational efficiencies and exploration potential [11][21]. 8. **Support from Shareholders**: Both companies have garnered significant support from their shareholders, with 22% signing voter support agreements for the merger [20][19]. 9. **Exploration Potential**: The combined company will have access to over 500,000 hectares of prime exploration land, with plans for extensive drilling programs to further define resources [15][31][69]. 10. **Financial Strength**: The merged entity will have over $100 million in cash and is expected to generate $100 million in free cash flow annually from the Manh Choh mine [44][71]. Other Important but Possibly Overlooked Content 1. **Historical Context**: Both CEOs have extensive backgrounds in mining and have successfully built companies in the sector, indicating a strong foundation for the new entity [6][9]. 2. **Community Relations**: Both companies emphasize strong relationships with local communities and indigenous partners, which is crucial for project development and permitting [62][63]. 3. **Market Dynamics**: The merger is positioned to take advantage of current market conditions where size and liquidity are increasingly important for attracting investment [36][37]. 4. **Future Plans**: The companies plan to conduct a new 43-101 compliant resource estimate, with expectations of significant increases in both silver and gold resources [62][69]. 5. **Environmental Considerations**: The DSO model is highlighted as a more environmentally friendly approach, reducing the need for extensive milling facilities and associated permits [58]. This summary encapsulates the key points discussed during the conference call regarding the merger between Contango Ore and Dolly Varden Silver, highlighting the strategic advantages and future potential of the combined entity.

NYSE-A:CTGO TSX-V:DV | NYSE-A:DVS MERGER TO CREATE A NEW NORTH AMERICAN HIGH-GRADE, MID-TIER SILVER & GOLD PRODUCER AND DEVELOPER I N V E S T O R P R E S E N TAT I O N D E C E M B E R 2 0 2 5 W W W . C O N T A N G O O R E . C O M W W W . D O L L Y V A R D E N S I L V E R . C O M DISCLAIMER LEGAL DISCLAIMER The information contained in this presentation furnished by or on behalf of Dolly Varden Silver Corporation ("Dolly Varden") or Contango ORE, Inc. ("Contango") has been prepared in respect of the proposed ...

Contango ORE and Dolly Varden Silver Announce Merger to Create a New North American High-Grade, Mid-Tier Silver & Gold Producer and DeveloperDecember 08, 2025 7:30 AM EST | Source: Dolly Varden Silver CorporationFairbanks, Alaska and Vancouver, British Columbia--(Newsfile Corp. - December 8, 2025) - Contango ORE, Inc. (NYSE American: CTGO) ("Contango" or the "Company") and Dolly Varden Silver Corporation (TSXV: DV) (NYSE American: DVS) (FSE: DVQ) ("Dolly Varden") are pleased to announce that t ...

Accessibility StatementSkip Navigation FAIRBANKS, Alaska, Dec. 2, 2025 /PRNewswire/ - Contango ORE, Inc. ("Contango" or the "Company") (NYSE American: CTGO) is pleased to announce the acceptance of the Johnson Tract Critical Metals Project as a "covered project" into the Federal Permitting Improvement Steering Council's FAST-41 program ("FAST-41") on December 1, 2025. Rick Van Nieuwenhuyse, the Company's President & CEO said "Contango would like to thank the Permitting Council and the US Army Corp of Engin ...

Core Insights - Contango ORE, Inc. has initiated the Lucky Shot drill program to support a Feasibility Study, with drilling expected to occur in four phases during Summer 2026 [1] - The underground exploration drilling will target approximately 18,000 meters across 210 drill holes, aiming to upgrade the Lucky Shot vein resource to Proven and Probable categories [1] - The Feasibility Study is anticipated to be completed in 2027, with assay results expected to start reporting in Q1 2026 [1] Drilling Program Details - The initial phase of drilling is focused on a resource "In-Fill" program on the Lucky Shot Vein, with additional testing on mineralized structures recently mapped in the West Drift [2] - Channel samples from the West Drift structure have shown significant gold grades, including 26.1 g/t, 379 g/t, and 9.1 g/t over 0.5 meters, averaging approximately 139 g/t over 1.5 meters [2] - The goal of the drill program is to gather data for a robust resource model to support the Final Feasibility Study [2] Company Overview - Contango is listed on NYSE American and focuses on gold exploration in Alaska, holding a 30% interest in the Peak Gold JV, which covers approximately 675,000 acres [4] - The company also has leases on the Johnson Tract and Lucky Shot projects, along with 100% ownership of around 8,600 acres of peripheral mining claims in Alaska [4]

Financial Data and Key Metrics Changes - The company reported record operating income of $25 million for Q3 2025, with an all-in sustaining cost (ASIC) of $1,597 per ounce, below the $1,625 target [3][6] - Cash position increased significantly from $20 million at year-end 2024 to $107 million as of September 30, with $87 million received from the Peak Gold joint venture [6][8] - Adjusted net income was introduced to provide clarity on the business's performance, excluding unrealized derivative hedge losses that impacted the P&L by $30 million [9][10] Business Line Data and Key Metrics Changes - Q3 production exceeded plans by approximately 2,000 ounces, contributing to the record operating income [3] - The test batch blending of low-grade oxide ore from Manh Choh with Fort Knox ore achieved a 94% recovery rate, expected to add about 1,300 ounces in Q4 [13][14] Market Data and Key Metrics Changes - The company noted stable diesel prices in Alaska, which positively impacted transportation costs, a significant part of the overall cost structure [4][5] - The gold price environment remains high, with current prices above $4,000, influencing the economic viability of processing lower-grade materials [15][18] Company Strategy and Development Direction - The company aims to execute a solid five-year plan with potential for M&A opportunities in Alaska, BC, and Yukon, focusing on organic growth through Lucky Shot and Johnson Tract [33][34] - The strategy includes continuing exploration at existing projects while also considering additional opportunities that fit the direct shipping ore (DSO) model [34][35] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the current operational strategy and the ability to deliver on production targets, with expectations to fulfill hedges by September 2026 [36][37] - The permitting process for Johnson Tract is ongoing, with expectations to receive necessary permits by Q1 of next year, allowing for mobilization and construction to begin [30][31] Other Important Information - The company is focused on maintaining a low ASIC while optimizing transportation and operational efficiencies [20][21] - The Lucky Shot project is expected to produce 30,000-40,000 ounces annually, with a feasibility study anticipated in 12-18 months [23][24] Q&A Session Summary Question: What are the capital allocation priorities following the increase in cash position? - The company aims to pay down debt and fulfill hedges as quickly as possible, with a focus on maintaining production levels [6][8] Question: Can you provide insight into the adjusted net income? - Adjusted net income was introduced to clarify the business's performance excluding unrealized derivative losses, which significantly impacted the net income [9][10] Question: What is the status of the Lucky Shot project? - The drill rig has been mobilized for a 15,000-meter underground infill program, with results expected by mid-January [23][25] Question: How is the permitting process for Johnson Tract progressing? - The company is working on obtaining two fundamental permits, expected by Q1 of next year, to proceed with the underground exploration [29][30] Question: When do you expect to fulfill the old hedges? - The objective is to deliver into the hedges by September 2026, with the last ones maturing in mid-2027 [36][37] Question: How large is the net operating loss carry forward? - The company does not anticipate paying taxes in the near future due to the ability to offset costs incurred at Lucky Shot against profits [38][39]