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Contango ORE ( (CTGO) ) has issued an update.
Contango ORE, Inc. announced a $9.0 million cash distribution from the Peak Gold JV, which is part of the company’s 30% share of profits from processing Manh Choh ore. The company has received a total of $40.5 million from these distributions in 2024, exceeding original production expectations. Contango’s gold production reached 42,000 ounces, surpassing guidance by 30%, and is projected to further increase in the coming years. These developments reflect strong operational performance, positioning Contango favorably in the industry and providing positive implications for its stakeholders.
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 focuses on the Manh Choh project, with the remaining interest owned by a subsidiary of Kinross Gold Corporation. Contango also has leases on other projects and owns significant mining claims in Alaska.
YTD Price Performance: -43.68%
Average Trading Volume: 108,108
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $124.7M
Find detailed analytics on CTGO stock on TipRanks’ Stock Analysis page.
