Contango ORE ( (CTGO) ) has shared an announcement.
On February 18, 2025, Contango ORE, Inc. announced amendments to its credit facility to defer $10.6 million in principal repayments and extend the maturity date to mid-2027. This adjustment is expected to align better with their extended ore haul plan, allowing for more flexibility in debt repayment and exposure to potential gold price increases. Contango also commenced its first gold production campaign of the year on February 7, 2025, with anticipated production of 15,000 to 18,000 ounces of gold. These developments are poised to strengthen the company’s financial standing and operational efficiency, potentially increasing cash flows significantly if gold prices remain high.
More about Contango ORE
Contango ORE, Inc. is a NYSE American listed company engaged in the exploration of gold and associated minerals in Alaska. The company holds a 30% interest in the Peak Gold JV, which manages a significant land lease for exploration on the Manh Choh project, with KG Mining Alaska, Inc., a subsidiary of Kinross Gold Corporation, owning the remaining 70%. Contango also holds leases on the Johnson Tract and Lucky Shot projects and has additional mining claims in Alaska.
YTD Price Performance: -3.30%
Average Trading Volume: 117,840
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $125.5M
For a thorough assessment of CTGO stock, go to TipRanks’ Stock Analysis page.