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]

Financial Data and Key Metrics Changes - The company reported record operating income of $25 million for Q3 2025, with all-in sustaining costs (AISC) maintained below the target of $16.25 at $15.97 per ounce [4][5] - Cash position increased significantly from $20 million at the end of 2024 to $107 million as of December 30, 2025, primarily due to an $87 million distribution from the Peak Gold joint venture [8] Business Line Data and Key Metrics Changes - Q3 production exceeded plans by approximately 2,000 ounces, contributing to the record operating income [4] - The company processed 287,000 tonnes at a recovery rate of 92.5% in Q3, with a grade of 0.214 ounces per tonne [23] Market Data and Key Metrics Changes - The company noted stable diesel prices and low oil prices as factors contributing to lower AISC, which is significant given the transportation costs involved in ore movement [5][6] Company Strategy and Development Direction - The company aims to focus on organic growth through projects like Lucky Shot and Johnson Track, while also considering M&A opportunities within Alaska, BC, and Yukon [46][48] - The strategy includes continuing to explore and develop existing resources while maintaining a solid five-year plan for growth [49][50] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the current operational strategy and the potential for future growth, emphasizing the importance of maintaining a strong cash position and minimizing debt [46][48] - The management highlighted the significance of the successful blending of low-grade oxide ore with Fort Knox ore, achieving a 94% recovery rate, which could lead to processing additional previously uneconomic materials [18][20] Other Important Information - The company is currently mobilizing a drill rig for a 15,000-meter underground infill program at Lucky Shot, with production estimates of 30,000 to 40,000 ounces annually [29][30] - The permitting process for the Johnson Track project is ongoing, with expectations to receive necessary permits by Q1 of the following year [40][41] Q&A Session Summary Question: What is the strategic thinking behind capital allocation? - The company aims to pay off hedges and debt quickly while maintaining production ahead of schedule, which has saved approximately $2.4 million this quarter [9][10] Question: Can you provide insight into adjusted net income? - Adjusted net income was introduced to clarify the impact of unrealized derivative hedge losses, which amounted to a $30 million impact on the P&L due to fluctuations in gold prices [12][13] Question: What is the expected timeline for the old hedges to be fulfilled? - The objective is to deliver into hedges by September 2026, with the last ones maturing in mid-2027 [52][54] Question: How large is the net operating loss carry forward? - The company anticipates not paying taxes this year or next, as it plans to offset costs from Lucky Shot against profits from Montchaux [56][57] Question: What are the upcoming plans for the Johnson Track project? - The company is focused on obtaining permits for the underground exploration drift and plans to mobilize equipment for road construction next summer [40][41]

NYSE-A:CTGO CORPORATE PRESENTATION Investors are cautioned that while the S-K 1300 definitions are "substantially similar" to the NI 43-101 definitions, there are differences between the two. Accordingly, there is no assurance any mineral reserve or mineral resource estimates that Peak Gold may report as "probable mineral reserves", "measured mineral resources", "indicated mineral resources" and "inferred mineral resources" under NI 43-101 would be the same had CORE prepared the mineral reserve or mineral r ...

NEWS RELEASE CONTANGO ORE, INC. Contango Announces Record High $25 Million in Income from Operations and Cash Position of $107 Million for the Quarter Ended September 30, 2025 FAIRBANKS, AK -- (November 13, 2025) -- Contango ORE, Inc. ("Contango" or the "Company") (NYSE American: CTGO) announced today that it filed with the Securities and Exchange Commission its Form 10-Q for the quarter ended September 30, 2025 ("Q3-2025"). Rick Van Nieuwenhuyse, President and CEO of the Company, stated, "Production during ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-35770 CONTANGO ORE, INC. (Exact name of registrant as specified in its charter) Delaware 27-3431051 (State or other j ...

Accessibility StatementSkip Navigation FAIRBANKS, Ala., Nov. 13, 2025 /PRNewswire/ - Contango ORE, Inc. ("Contango" or the "Company") (NYSE American: CTGO) announced today that it filed with the Securities and Exchange Commission its Form 10-Q for the quarter ended September 30, 2025 ("Q3-2025"). Rick Van Nieuwenhuyse, President and CEO of the Company, stated, "Production during the third quarter of 2025 continued to exceed quarterly guidance with record high income of $25 million from operations and adjust ...

Summary of Contango Ore (NYSEAM:CTGO) 2025 Conference Call Company Overview - Contango Ore is an NYSE American-listed company involved in gold mining projects in Alaska, specifically the Montreal, Lucky Shot, and Johnson Track projects [1][2][3] Key Projects and Production Plans - **Montreal Project**: - Currently in production through a joint venture with Kinross, where Contango owns 30% - Produces approximately 60,000 ounces of gold annually, generating about $100 million in free cash flow at a gold price of $3,500 per ounce [1][2] - The project utilizes a direct shipping ore (DSO) model, avoiding the need for building a mill and tailings facilities [4][5] - **Lucky Shot Project**: - Fully permitted underground mine, currently undergoing a feasibility study - Expected to produce about 40,000 ounces of gold per year [2][3] - Plans to invest around $50 million to bring this project into production within two years [3][4] - **Johnson Track Project**: - Currently in the permitting stage, with a robust ore body containing gold, silver, copper, lead, and zinc - Expected to double production capacity to 200,000 ounces of gold annually once operational [4][16] Financial Performance and Shareholder Value - Contango has a tight share structure with 15.5 million shares outstanding and management owning about 20% of the company [2][4] - The company has reduced its debt from $60 million to approximately $15 million [2] - Free cash flow generation is strong, with projections of $3 per share under hedged conditions, potentially increasing to $8 when unhedged, and up to $15 with the five-year production growth plan [10][20] Direct Shipping Ore (DSO) Model - The DSO model allows for quicker production without extensive permitting challenges, as it involves mining at the site and transporting ore directly to existing processing facilities [5][11] - This model significantly reduces capital expenditure and environmental impact [5][11] Permitting and Infrastructure - The Montreal project is located on land owned by the Tetlan Tribe, which has a 3% royalty agreement [6] - The Johnson Track project benefits from existing land easements and is expected to receive necessary permits by Q1 2026 [17][18] Market Outlook and Strategic Positioning - The company is optimistic about the gold market, expecting prices to continue rising [10] - Contango focuses on high-grade deposits, avoiding lower-grade resources to ensure profitability [11] Additional Considerations - The company is exploring alternative processing options, including potential partnerships for processing in Taiwan [15] - The Johnson Track project is positioned to take advantage of the current administration's interest in critical metals, enhancing its permitting prospects [17] This summary encapsulates the key points discussed during the conference call, highlighting Contango Ore's strategic initiatives, financial health, and market positioning.

Core Viewpoint - Contango ORE, Inc. (CTGO) has seen a 2.1% increase in share price over the past four weeks, closing at $24.5, with analysts suggesting a potential upside of 38.8% based on a mean price target of $34 [1]. Price Targets and Analyst Estimates - The mean estimate for CTGO's price target is $34, with a standard deviation of $1.73, indicating a relatively tight clustering of estimates among analysts [2]. - The lowest price target is $32.00, suggesting a 30.6% increase, while the highest target is $35.00, indicating a 42.9% increase from the current price [2]. - A low standard deviation signifies strong agreement among analysts regarding the stock's price movement, which can serve as a starting point for further research [9]. Earnings Estimates and Analyst Sentiment - Analysts have shown strong agreement in revising CTGO's earnings estimates upward, which is a positive indicator for potential stock price increases [4][11]. - Over the last 30 days, the Zacks Consensus Estimate for CTGO's current year earnings has increased by 325%, with no negative revisions [12]. - CTGO holds a Zacks Rank 1 (Strong Buy), placing it in the top 5% of over 4,000 ranked stocks based on earnings estimate factors, further supporting its potential upside [13]. Conclusion on Price Movement - While the consensus price target may not be entirely reliable, the direction indicated by the price targets and the strong earnings estimate revisions suggest a favorable outlook for CTGO's stock [14].

Summary of Contango Ore (NYSEAM:CTGO) 2025 Conference Call Company Overview - Contango Ore is an American company based in Alaska, trading on the New York Stock Exchange and part of the Russell 2000 and JDX index [1] - The company has three projects: Manh Choh (in production), Lucky Shot (fully permitted), and Johnson Tract (pending further permitting) [1][2] Production and Growth Plans - Manh Choh is currently producing gold, with an annual output of 60,000 ounces from a total mine production of 200,000 ounces [3] - Lucky Shot is expected to produce 30,000 to 40,000 ounces of gold annually within two years, with a growth target of 50,000 to 60,000 ounces [1][2] - Johnson Tract has a potential production profile of about 100,000 ounces annually [1] - The company aims to triple its production over the next five years, a goal that is internally financed through cash flow from existing operations [2][15] Financial Health - The company has approximately 15.5 million shares outstanding, with management owning about 20% [2] - Debt has been reduced from $60 million to under $15 million [2] - The company generated about $87 million in cash distributions from the joint venture and is on track to exceed $100 million in free cash flow this year [5] Operational Efficiency - The company utilizes a Direct Shipping Ore (DSO) model, allowing it to avoid extensive permitting and capital expenditures associated with building new mills [20] - The DSO model enables quick production ramp-up by shipping ore directly to existing mills, such as the Kinross Gold Corporation Fort Knox Mill [4][20] - The all-in sustaining cost for the Manh Choh project is projected at $1,400 per ounce, while the Johnson Tract project is estimated at $860 per ounce [17][18] Market Position and Strategy - The company focuses on high-grade deposits, with the Lucky Shot project having a resource grade of 14.5 grams per ton [9][10] - Johnson Tract has a favorable mining condition with an average grade of 9.4 grams per ton and a thickness of about 40 meters [11][12] - The company is actively engaging with federal permitting programs to expedite the permitting process for Johnson Tract [14] Future Outlook - The company anticipates generating significant free cash flow, potentially reaching $400 million at a gold price of $3,000 per ounce with an all-in sustaining cost of around $1,500 [16] - The management is optimistic about the company's growth trajectory and the support from federal and state agencies [15] Additional Insights - The company emphasizes the importance of maintaining relationships with Alaska Native corporations, which own land where mining operations occur [3][9] - The management has noted that fuel prices have remained stable, which helps control operational costs [19]

Group 1 - The event features Rick Van Nieuwenhuyse, CEO of Contango Ore, and CFO Mike Clark, indicating a focus on leadership engagement [1] - The event is interactive, allowing participants to submit questions via chat, enhancing audience involvement [1] - The session is being recorded and will be made available on multiple platforms, including 6ix's YouTube channel and Contango Ore's website, ensuring accessibility for a wider audience [2]