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 (Exact name of registrant as specified in its charter) For the quarterly period ended June 30, 2025 Delaware 27-3431051 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the ...

FAIRBANKS, Alaska, Aug. 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 June 30, 2025 ("Q2-2025") compared with the quarter ended June 30, 2024 ("Q2-2024").Rick Van Nieuwenhuyse, President and CEO of the Company, stated, "Production during the second quarter of 2025 continued to exceed quarterly guidance with record high net income of $15.9 million. Dur ...

Key Takeaways CTGO expects Q2 loss of $0.01 per share, improving from $1.90 loss a year ago.Peak Gold JV delivered 17,764 ounces to CTGO, generating $58.16M in gold sales.AISC rose to $1,548 per ounce sequentially due to capital spending and exploration drilling.Contango Ore, Inc. (CTGO) is anticipated to witness a loss when it reports second-quarter 2025 results. The Zacks Consensus Estimate is at a loss of one cent per share. The consensus mark has remained unchanged in the past 60 days. The projected los ...

FAIRBANKS, Alaska, June 25, 2025 /PRNewswire/ - Contango ORE, Inc. ("Contango" or the "Company") (NYSE American: CTGO) is pleased to announce that the Peak Gold JV made a cash distribution in the amount of $21 million ("M") to Contango on June 25, 2025, totaling $54 M to Contango's account received year-to-date. The Peak JV has completed the second of four campaigns in 2025, producing approximately 36,000 ounces of gold for Contango's account year to date, with the third campaign scheduled to commence in Au ...

Contango ORE, Inc. (CTGO) closed the last trading session at $21.30, gaining 24.1% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $29.33 indicates a 37.7% upside potential.The average comprises three short-term price targets ranging from a low of $26.00 to a high of $32.00, with a standard deviation of $3.06. While the lowest estimate indicates an increase of 22.1% from the curren ...

Core Points - Contango ORE, Inc. held its annual meeting of stockholders on June 10, 2025, where directors were elected to serve until the 2026 annual meeting [1] - Stockholders approved the ratification of Moss Adams LLP as independent auditors for the fiscal year ending December 31, 2025, and the non-binding advisory approval of executive compensation [3] Company Overview - Contango ORE, Inc. is listed on NYSE American and focuses on gold and associated minerals exploration in Alaska [1] - The company holds a 30% interest in the Peak Gold Joint Venture (JV), which leases approximately 675,000 acres for exploration and development on the Manh Choh project, with the remaining 70% owned by KG Mining (Alaska), Inc., a subsidiary of Kinross Gold Corporation [1] - Contango also has leases on the Johnson Tract and Lucky Shot projects, along with 100% ownership of approximately 8,600 acres of peripheral mining claims and a 100% interest in about 145,000 acres of State of Alaska mining claims [1]

Core Viewpoint - Contango ORE, Inc. (CTGO) is showing strong technical indicators, particularly a "golden cross," which suggests a potential bullish breakout for investors [1][2]. Technical Analysis - CTGO's 50-day simple moving average has recently crossed above its 200-day moving average, indicating a bullish trend [1]. - A golden cross typically follows a downtrend, signaling a trend reversal and potential for continued price increases [2]. Performance Metrics - CTGO has experienced a significant price increase of 47.4% over the last four weeks, indicating strong momentum [3]. - The company holds a 1 (Strong Buy) rating on the Zacks Rank, reflecting positive investor sentiment [3]. Earnings Outlook - There has been one upward revision in earnings estimates for CTGO in the past 60 days, with no downward revisions, suggesting a positive earnings outlook for the current quarter [3]. - The Zacks Consensus Estimate for CTGO has also increased, further supporting the bullish case for the company [4].

Group 1 - Contango ORE, Inc. (CTGO) closed at $20.27, with a 45.4% gain over the past four weeks, and a mean price target of $29.33 suggests a 44.7% upside potential [1] - The average price target ranges from a low of $26 to a high of $32, with a standard deviation of $3.06, indicating a potential increase of 28.3% to 57.9% from the current price [2] - Analysts show strong agreement on CTGO's ability to report better earnings than previously predicted, which supports the view of potential upside [4][11] Group 2 - The Zacks Consensus Estimate for CTGO's current year earnings has increased by 176.9% over the last 30 days, 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 estimates [13] - While consensus price targets may not be reliable for predicting exact gains, they can indicate the direction of price movement, which appears to be a good guide for potential upside [13]

Financial Data and Key Metrics Changes - The company reported $19 million in income from operations, which includes $22.3 million in equity income from the Peak Gold JV, reflecting a net loss of $22.5 million for the quarter, primarily due to an unrealized loss of $40.5 million related to hedge contracts [3][4] - Cash costs were approximately $13.34 per ounce of gold sold, with an all-in sustaining cost (AISC) of $13.74 per ounce [4] - The company ended the quarter with $35 million in cash and marketable securities valued at about $900,000, which increased to approximately $4 million post-quarter [5] Business Line Data and Key Metrics Changes - At the Mancho operations, over 17,000 ounces of gold were sold, with an additional 3,800 ounces in recoverable inventory [4] - The company maintained its guidance for 2025 at 60,000 ounces of gold with an AISC of about $16.25, anticipating an increase in AISC due to rising sustaining capital and an exploration drill program costing $5.7 million [4][28] Market Data and Key Metrics Changes - Gold prices increased from $2,600 at the beginning of the year to around $3,100 by the end of the quarter, impacting the company's hedge liabilities [3] Company Strategy and Development Direction - The company is focused on managing its hedge obligations while balancing the benefits of spot prices, with a current strategy of selling 30% of gold at spot prices and 70% into hedges [34][36] - The company plans to continue paying down debt and delivering into hedges, with expectations of being unhedged in the near future [36][62] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about production exceeding expectations, with a 30% increase in gold produced in Q1 compared to plans [9] - The dismissal of a lawsuit against the company was viewed positively, as it supports the project and the mining industry in Alaska [20][23] - The company anticipates a strong cash flow from Mancho for the next four years, contingent on stable gold prices [66] Other Important Information - The company is in the process of permitting an underground access tunnel for the Johnson Track project, which is expected to take about a year [40][41] - The company is exploring potential drilling at the Lucky Shot site and evaluating other projects to extend mine life and improve resource grades [47][49] Q&A Session Summary Question: Can you provide more details on the carry trade and hedge delivery schedule? - The company has shifted to a carry trade approach to better manage cash flow, allowing them to sell gold at spot prices while managing hedge obligations [11][12] Question: What is the status of the Onyx shares? - The Onyx shares, acquired through HIGOLD, are now valued at approximately $5 million Canadian, providing an additional source of capital [15][16] Question: What are the capital allocation priorities for the remainder of the year? - The focus will be on paying down debt, delivering into hedges, and potentially funding a drill program at Lucky Shot [45][46] Question: What is the expected balance on the facility by the end of the year? - The facility is expected to be around $15 million by year-end [24] Question: Are there any active takeover bids for Contango? - Management is not aware of any active takeover bids at this time [80]

Financial Data and Key Metrics Changes - The company recorded $19 million in income from operations, which includes $22.3 million in equity income from the Peak Gold JV, resulting in a net loss of $22.5 million for the quarter, primarily due to an unrealized loss of $40.5 million related to hedge contracts [3][4] - Cash costs were approximately $13.34 per ounce of gold sold, with an all-in sustaining cost (AISC) of $13.74 per ounce [4] - The company ended the quarter with $35 million in cash and marketable securities valued at about $900,000, which increased to approximately $4 million post-quarter [5] Business Line Data and Key Metrics Changes - At the Mancho operations, over 17,000 ounces of gold were sold, with an additional 3,800 ounces in recoverable inventory [4] - The company maintained its guidance for 2025 at 60,000 ounces of gold with an AISC of about $1,625, expecting AISC to increase in later quarters due to rising sustaining capital [4][29] Market Data and Key Metrics Changes - Gold prices increased from $2,600 at the beginning of the year to around $3,100 by the end of the quarter, impacting the company's hedge liabilities [3][6] Company Strategy and Development Direction - The company is focused on managing cash flow through a carry trade strategy, allowing it to sell gold at spot prices while managing hedge obligations [15][36] - The management emphasized the importance of continuing to deliver into hedges and paying down debt, with a target to finish the year with approximately $15 million in facility balance [25][36] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about production exceeding expectations, with a 30% increase in gold produced compared to plans for Q1 [11][12] - The dismissal of a lawsuit against the company was viewed positively, as it supports the Mancho project and mining operations in Alaska [21][24] - The company plans to focus on permitting the Johnson Track project, with expectations of a year-long process for the tunnel permit [42][43] Other Important Information - The company is currently selling 30% of its gold at spot prices and 70% into hedges, with plans to manage this ratio effectively [36] - The management highlighted the potential for a significant balance sheet transformation as debt is reduced and production increases [90] Q&A Session Summary Question: Can you provide more details on the carry trade and hedge delivery schedule? - The company has shifted its approach to better manage cash flow through carry trades, allowing for gold sales at spot prices while settling hedges in cash [15][16] Question: What is the status of the Onyx shares? - The Onyx shares, acquired through HIGOLD, are now valued at approximately $5 million, providing an additional source of capital [18][19] Question: What is the impact of the dismissed lawsuit? - The dismissal of the lawsuit is seen as beneficial for the Mancho project and for mining in Alaska, reducing regulatory hurdles [21][24] Question: What are the capital allocation priorities for the remainder of the year? - The focus will be on paying down debt, delivering into hedges, and potentially reviewing budgets for exploration programs [47][48] Question: What are the next key milestones for the Johnson Track project? - The next stage involves permitting the underground access tunnel, expected to take about a year [42][43] Question: Will the derivative liability decline significantly? - The hedge liability is expected to decrease significantly, potentially halving by the end of the year if gold prices remain stable [90]