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 ...

Financial Performance - Contango reported record high income from operations of $25 million for Q3-2025, up from $22.7 million in Q3-2024, representing an increase of approximately 5.7%[3] - Adjusted net income for Q3-2025 was $24.9 million, compared to $19.1 million in Q3-2024, reflecting a year-over-year increase of about 30.3%[3] - For the nine months ended September 30, 2025, net cash provided from operating activities was $60.2 million, a significant increase from $10.6 million in the same period of 2024[4] - Contango's unrestricted cash position as of September 30, 2025, was $107 million, compared to $20.1 million at the end of 2024[4] - Cash distributions received from the Peak Gold JV amounted to $33 million in Q3-2025, contributing to the company's improved cash flow[9] Production and Costs - The company sold 16,669 ounces of gold in Q3-2025, with cash costs of $1,402 per ounce and all-in-sustaining costs of $1,597 per ounce, both below the 2025 target of $1,625 per ounce[2] - The company expects to produce between 6,000 and 8,000 gold ounces in Q4-2025, with additional production from a test batch of Manh Choh ore[2] Projects and Future Plans - A 15,000-meter underground in-fill drilling program is underway at the Lucky Shot mine, with assay results expected in Q1-2026[7] - The company plans to complete a feasibility study for the Lucky Shot project within 12 to 18 months, targeting annual production of 30,000 to 40,000 ounces of gold[10] Capital Raising - Contango raised gross proceeds of $50 million through an equity offering, issuing 1,975,000 shares at a public offering price of $20.00 per share[14]

Financial Performance - In 2024, the Company received $40.5 million in cash distributions from the Peak Gold JV related to production at the Manh Choh Project, followed by $87.0 million received during the nine months ended September 30, 2025[115]. - Income from equity investment in the Peak Gold JV for Q3 2025 was $29.5 million, up from $28.5 million in Q3 2024[136]. - For the nine months ended September 30, 2025, income from equity investment in the Peak Gold JV was $79.2 million, significantly higher than $27.7 million for the same period in 2024[145]. - Metal sales for Q3 2025 generated a gain of $2.2 million from 16,669 ounces sold at an average spot price of $3,647, compared to $0.9 million from 12,850 ounces at $2,521 in Q3 2024[139]. - Metal sales for the nine months ended September 30, 2025, resulted in a gain of $4.3 million from 51,574 ounces sold at an average spot price of $3,300, compared to $0.9 million from 12,850 ounces at $2,521 in the same period of 2024[147]. - Loss on derivative contracts for Q3 2025 was $30.3 million, down from $28.8 million in Q3 2024, with 11,900 gold ounces delivered into contracts[140]. - Loss on derivative contracts for the nine months ended September 30, 2025, totaled $83.7 million, compared to $57.1 million for the same period in 2024, with 23,839 ounces delivered into contracts[148]. Project Updates - During Q1 2025, the Peak Gold JV processed 323,000 tons of ore with an average grade of 0.215 oz per ton, resulting in approximately 65,000 oz of recovered gold, of which Contango's 30% share amounted to 19,500 oz[116]. - In Q2 2025, the Peak Gold JV processed 255,000 tons of ore with an average grade of 0.222 oz per ton, resulting in approximately 52,000 oz of recovered gold, with Contango's share being 15,700 oz[117]. - In Q3 2025, the Peak Gold JV processed 287,000 tons of ore with an average grade of 0.214 oz per ton, resulting in approximately 56,800 oz of recovered gold, with Contango's share being approximately 17,000 oz[118]. - The Johnson Tract Project's Technical Report Summary indicates a pre-tax NPV5 of $359.0 million and a pre-tax IRR of 37.4%[127]. - The Lucky Shot Property aims to produce 30,000 to 40,000 ounces of gold per year, with a feasibility study expected to be completed in 12 to 18 months[123]. - The Manh Choh Project commenced production in July 2024 and remains on schedule, contributing to the cash flows of the Peak Gold JV[158]. Expenses and Cash Management - General and administrative expenses for Q3 2025 were $2.5 million, slightly down from $2.6 million in Q3 2024[135]. - Exploration expenses for Q3 2025 were $2.0 million, down from $3.0 million in Q3 2024, primarily related to permitting processes at the Johnson Tract Project[134]. - As of September 30, 2025, the company had approximately $107.0 million in cash, with cash distributions from the Peak Gold JV totaling $87.0 million from Q3 2024 to Q3 2025[156][159]. - The company plans to use net proceeds of approximately $47.5 million from a recent stock sale to advance the Lucky Shot Project and Johnson Tract Project[160]. - Cash cost on a by-product basis per ounce sold for Q3 2025 was $1,402, while AISC on a by-product basis per ounce was $1,597[155]. Ownership and Future Plans - As of September 30, 2025, the Company's directors and executives beneficially own approximately 12.3% of the Company's common stock[131]. - The Company anticipates acquiring additional exploration properties in Alaska, subject to the availability of funds[132].

Core Viewpoint - Contango ORE, Inc. reported strong financial performance in Q3-2025, with record income and production levels, while also outlining future production and exploration plans [2][3][4]. Financial Performance - Total income from operations for Q3-2025 was $25 million, an increase from $22.7 million in Q3-2024 [3]. - Adjusted net income for Q3-2025 was $24.9 million, compared to $19.1 million in Q3-2024 [3]. - The company reported a net loss of $5.4 million for Q3-2025, an improvement from a net loss of $9.7 million in Q3-2024 [3]. - Cash costs per ounce sold were $1,402, and all-in-sustaining costs were $1,597, both below the 2025 target of $1,625 [2][3]. Production and Sales - Contango sold 16,669 ounces of gold in Q3-2025, with a total of 17,057 ounces produced [5][13]. - Year-to-date gold production reached 52,020 ounces, with total gold sales amounting to approximately $170.2 million [5]. - The company expects Q4-2025 production to be between 6,000 and 8,000 ounces due to seasonal conditions [2]. Cash Flow and Financial Position - Net cash provided from operating activities for the nine months ended September 30, 2025, was $60.2 million, significantly up from $10.6 million in the same period of 2024 [4]. - The unrestricted cash position as of September 30, 2025, was $107 million, compared to $20.1 million at the end of 2024 [4][14]. - Cash distributions received from the Peak Gold JV amounted to $87 million year-to-date [4][5]. Exploration and Future Plans - A drill rig is being mobilized for a 15,000-meter underground drilling program at the Lucky Shot mine, with results expected in Q1 2026 [9]. - The Lucky Shot project aims to produce 30,000 to 40,000 ounces of gold annually using a Direct Shipping Ore approach, with a feasibility study expected to be completed in 12 to 18 months [9]. - Ongoing work at the Johnson Tract project includes permitting for underground exploration and environmental assessments [10]. Debt and Financing - The company repaid $7 million on its credit facility during Q3-2025, reducing the outstanding balance to $23.1 million [14]. - Subsequent to the period end, an additional $8.5 million was repaid, further lowering the balance to $14.6 million [14]. - Contango raised gross proceeds of $50 million through an equity offering, issuing 1,975,000 shares at a public offering price of $20.00 per share [14].

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]

Core Insights - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] - The Zacks Momentum Style Score helps investors identify stocks with strong momentum, addressing the challenges of defining momentum [2] Company Overview: Contango ORE, Inc. (CTGO) - CTGO currently holds a Momentum Style Score of A, indicating strong momentum potential [3] - The company has a Zacks Rank of 1 (Strong Buy), which historically outperforms the market when combined with a Style Score of A or B [4] Performance Metrics - Over the past week, CTGO shares increased by 1.37%, while the Zacks Mining - Miscellaneous industry rose by 4.08% [6] - In the last month, CTGO's price change was 14.21%, compared to the industry's 17.87% [6] - Over the past quarter, CTGO shares have risen by 22.33%, and by 30.99% over the last year, outperforming the S&P 500's gains of 8.19% and 19.01%, respectively [7] Trading Volume - CTGO's average 20-day trading volume is 172,960 shares, which serves as a baseline for price-to-volume analysis [8] Earnings Outlook - In the last two months, one earnings estimate for CTGO has increased, raising the consensus estimate from -$1.44 to $0.67 [10] - For the next fiscal year, one estimate has moved upwards with no downward revisions during the same period [10] Conclusion - Given the strong performance metrics and positive earnings outlook, CTGO is positioned as a promising investment opportunity with a Momentum Score of A [12]