tango ORE(US:CTGO)2025-11-13 23:23Financial 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]