Contango ORE, Inc. (CTGO) closed the last trading session at $10.32, gaining 2.8% 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 $27.17 indicates a 163.3% upside potential.The mean estimate comprises four short-term price targets with a standard deviation of $3.70. While the lowest estimate of $22 indicates an 113.2% increase from the current price level, the most optimistic analy ...

CONFERENCE CALL AND WEBCAST Contango will host a conference call and webcast to discuss this update on Monday, March 31, 2025, at 1:30pm EST / 10:30am PST. Participants may join the webcast using the following call-in details: https://6ix.com/event/contango-ore-cash-distribution-and-campaign-4. ABOUT CONTANGO FAIRBANKS, Alaska, March 31, 2025 /PRNewswire/ - Contango ORE, Inc. ("Contango" or the "Company") (NYSE American: CTGO) is pleased to announce that the Peak Gold JV has made cash distributions totaling ...

Contango Ore (CTGO) Q4 2024 Earnings Call March 18, 2025 12:51 AM ET Company Participants Romeo Maione - VP Business SolutionsRick Van Nieuwenhuyse - President, CEO & DirectorMichael Clark - CFO Romeo Maione Today, I saw some early rising Australians on the list, so thank you very much for joining us. Appreciate particularly everybody joining us on St. Patrick's Day for a corporate update and Q and A session from Tango Ur related to this morning's press release regarding 2024 earnings. I'm joined today by t ...

Romeo Maione Good afternoon, or good morning, depending on where you’re logging in from. Today, I saw some early rising Australians on the list. So thank you very much for joining us. Appreciate particularly everybody joining us on St. Patrick's Day for a corporate update and Q&A session from Contango related to this morning's press release regarding 2024 earnings. I'm joined today by the company's President and CEO, Rick Van Nieuwenhuyse; and CFO, Mike Clark. Gentlemen, thank you for joining me. Rick Van N ...

NEWS RELEASE CONTANGO ORE, INC. Contango Announces Earnings for the Year Ended December 31, 2024 FAIRBANKS, AK -- (March 17, 2025) -- Contango ORE, Inc. ("Contango" or the "Company") (NYSE American: CTGO) announced today that it filed its Form 10-K for the fiscal year ended December 31, 2024 ("FY2024") with the Securities and Exchange Commission. Other periods referenced in this release include the six-month transition period ended December 31, 2023 ("6ME12-2023"), and the fiscal year ended June 30, 2023 (" ...

Financial Performance - The Company received $40.5 million in cash distributions from the Peak Gold JV during 2024, relating to three campaigns of production at the Manh Choh Project [237]. - The Manh Choh Project produced 41,325 ounces of gold for Contango's share in 2024, with cash costs on a by-product basis per ounce at $1,209 [237]. - The income from the Company's equity investment in the Peak Gold JV for the fiscal year ended December 31, 2024 was $41.7 million, compared to a loss of $6.3 million for the six months ended December 31, 2023 [255]. - The Company invested $31.3 million in the Peak Gold JV during fiscal year ended December 31, 2024, and the Peak Gold JV issued cash distributions of $40.5 million for the same period [255]. - The average blended realized gold price for the Company was $2,281 per ounce sold in 2024 [240]. - The gain on metal sales for the fiscal year ended December 31, 2024 was $1.2 million, with no metal sales reported in prior periods [257]. - Cash Cost on a By-Product Basis, per Ounce for the Peak Gold JV was $1,209 for the fiscal year ended December 31, 2024, with total cost of sales amounting to $195.4 million [264]. Expenses - Exploration expense for the fiscal year ended December 31, 2024 was $4.1 million, primarily related to the 3,000 meter surface drilling exploration program at the Johnson Tract Property [252]. - General and administrative expense for the fiscal year ended December 31, 2024 was $10.6 million, an increase from $6.8 million for the six months ended December 31, 2023 [253]. - Interest expense for the fiscal year ended December 31, 2024 was $11.7 million, an increase due to a cumulative $60.0 million draw-down on the Facility and the Queen's Road Capital Investment, Ltd. Debenture [256]. - The Company recognized claim rental expense of $0.6 million for the fiscal year ended December 31, 2024, compared to $0.3 million for the six months ended December 31, 2023 [251]. - The Company recorded an unrealized loss on derivative contracts of $34.3 million and a realized loss of $19.9 million during the fiscal year ended December 31, 2024 [258]. Acquisitions and Agreements - The Company completed the acquisition of HighGold, issuing 1,698,887 shares valued at approximately $33.4 million to HighGold shareholders [242]. - The Company entered into a stock purchase agreement with Avidian Gold Corp. for an initial consideration of $2.4 million, with a contingent payment of up to $1 million [245]. Cash Flow and Liquidity - As of December 31, 2024, the Company had approximately $20.3 million of cash available [265]. - The Company received a total of $40.5 million in cash distributions from the Peak Gold JV in 2024, including $19.5 million in September and $21.0 million in the fourth quarter [268]. - The Company made a repayment of $13.8 million on the Facility in January 2025, with total repayment obligations of approximately $24.7 million due within the next twelve months [268]. Project Development - The Peak Gold JV's cash calls for 2023 and 2024 totaled approximately $248.1 million, with the Company's share being approximately $74.5 million [238]. - The Peak Gold JV expects that the Manh Choh Project will be mined over approximately five years [237]. - The Peak Gold JV commenced production in July 2024, with operations on schedule and no future anticipated cash calls [267].

Core Viewpoint - Contango ORE, Inc. reported its financial results for FY2024, highlighting gold production exceeding guidance and a focus on debt reduction and cash flow management [1][3]. Financial Performance - The unrestricted cash position increased to $20.1 million as of December 31, 2024, up from $15.5 million a year earlier [2]. - Total income from operations was $26.3 million, with a net loss of $38.0 million for FY2024, which included a non-cash expense of $34.3 million from unrealized losses on derivative contracts [2][5]. - Net cash provided from operating activities improved to $0.7 million for FY2024, compared to net cash used of $9.4 million for the six-month transition period and $14.7 million for FY2023 [4]. Production and Operations - Gold production at the Manh Choh mine reached 41,325 ounces, surpassing the guidance of 30,000 to 35,000 ounces, with cash costs of $1,209 per ounce [3][11]. - The average blended gold price achieved was $2,281 per ounce [8]. - The company is on track to produce between 15,000 and 18,000 ounces of gold in the first campaign of 2025, with a total guidance of 60,000 ounces for the year [3][8]. Debt and Hedge Management - The company reduced its credit facility balance by 36% to $38.3 million and settled 37,861 ounces of gold hedge contracts, reducing the outstanding hedge contract to 86,739 ounces [3][11]. - Cash distributions received from the Peak Gold JV amounted to $40.5 million [8][11]. Project Developments - The Johnson Tract project is advancing with a preliminary economic assessment expected to be released soon [3]. - The company completed a 3,000-meter drilling campaign at the Johnson Tract, focusing on resource characterization and permitting efforts [11].

Group 1 - Contango Ore (NYSE: CTGO) is a gold mining company that employs the Direct Shipment of Ore (DSO) business model to reduce environmental impact, development costs, and time to production [1] - The company focuses on minimizing its environmental footprint while maintaining efficient production processes [1] - The author has been involved in precious metals investment since 2003 and has a background in real estate, indicating a diversified investment strategy [1] Group 2 - The author has shifted focus to writing about companies with market capitalizations exceeding $100 million, as many previously favored companies have grown in value [1] - The author primarily invests in nano-cap junior gold explorers with market caps under $20 million, highlighting a preference for smaller, potentially high-growth companies [1]

Core Viewpoint - Contango ORE, Inc. has amended its credit facility to defer $10.6 million in principal repayments and extend the maturity date to June 30, 2027, allowing for greater flexibility in managing debt and gold hedge contracts while maintaining exposure to rising gold prices [1][4]. Financial Summary - The revised delivery schedule for gold hedge contracts will expose the company to spot gold prices on approximately 30% of net production volumes for 2025 and 2026, 80% for 2027, and 100% thereafter [2]. - Based on a $2,500 spot gold price, the company's projected cash flows from its 30% share of the Peak Gold JV are expected to be approximately $80 million in 2027 and $70 million in 2028 [2]. - With current gold prices near $2,900 per ounce, the company anticipates generating significantly better free cash flows than the previously mentioned projections [4]. Production and Operations - The Peak Gold JV commenced its first gold production campaign of 2025 on February 7, with Contango estimating its share of production to be between 15,000 and 18,000 ounces [3]. - The PGJV is actively working on initiatives to reduce operational costs and improve performance, including reducing moisture content in ore and managing ice, snow, and mud during ore transport [4]. Project Development - Progress on the preliminary economic assessment (PEA) for the Johnson Tract project is ongoing, with completion expected in March 2025 [4]. - The company holds a 30% interest in the Peak Gold JV, which encompasses approximately 675,000 acres for exploration and development on the Manh Choh project [6].

Core Insights - Contango ORE, Inc. received a cash distribution of $9.0 million from the Peak Gold JV, bringing total cash distributions to $40.5 million since July 2024 [1] - In 2024, Contango's share of gold production was approximately 42,000 ounces, exceeding the original guidance of 30,000 to 35,000 ounces by about 30% [2] - The company expects to produce 60,000 ounces of gold in 2025, with an average of 58,750 ounces per year through 2028, and all-in sustaining costs estimated at approximately $1,400 per ounce [2] Company Overview - Contango ORE, Inc. is listed on NYSE American and focuses on gold exploration in Alaska, holding a 30% interest in the Peak Gold JV [3] - The Peak Gold JV operates on approximately 675,000 acres of land for the Manh Choh project, with the remaining 70% owned by KG Mining (Alaska), Inc., a subsidiary of Kinross Gold Corporation [3] - The company also holds leases on the Johnson Tract and Lucky Shot projects, along with 100% ownership of additional mining claims in Alaska [3]