Contango ORE (CTGO) announced that the Peak Gold JV paid a cash distribution of $12.0 million on October 24, 2024. These proceeds relate to Contango’s 30% of profits from the processing of Manh Choh ore from Campaign #2. In total, Contango has received $31.5 million in cash distributions from the Peak Gold JV since commencing the processing of Manh Choh ore in July 2024. The Peak Gold JV has completed two campaigns with a third campaign currently underway. Contango’s 30% share of production from Campaigns #1 and #2 totals approximately 30,000 ounces of gold with a further 8,500 ounces of gold expected from Campaign #3 for total production in 2024 of approximately 38,500 ounces of gold.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CTGO:
- Contango Ore price target raised to $37 from $33 at Roth MKM
- Contango ORE Strengthens Leadership and Secures Cash Distribution
- Contango Ore receives $19.5M cash distribution from Peak Gold JV
- Contango ORE Launches Gold Production, Expects Strong Financials
- Contango Ore JV announces processing Campaign #2 of Manh Choh ore in Alaska