The Lucky Shot

Contango ORE Announces Year End Results

Retrieved on: 
Wednesday, September 13, 2023
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Contango ORE, Inc. (“Contango” or the “Company”) (NYSE American: CTGO) announced today it filed its Form 10-K for the year ended June 30, 2023 with the Securities and Exchange Commission.

Key Points: 
  • Contango ORE, Inc. (“Contango” or the “Company”) (NYSE American: CTGO) announced today it filed its Form 10-K for the year ended June 30, 2023 with the Securities and Exchange Commission.
  • The Company reported a net loss of $39.7 million or a loss of $5.61 per basic and diluted share for the year ended June 30, 2023 compared to a net loss of $23.5 million or a loss of $3.49 per basic and diluted share for the prior year.
  • The primary reason for the increase in net loss in 2023 is due to an increase in pre-production costs for development and construction at the Company’s 30% interest in the Manh Choh mine, which is being operated by Kinross Gold Corporation (‘Kinross”).
  • The Manh Choh mine celebrated the commencement of mining operations with a ground-breaking ceremony on August 29, 2023.

Contango Announces Commencement of Mining Operations at Manh Choh Mine and Re-Start of Drilling at Lucky Shot Mine

Retrieved on: 
Wednesday, August 30, 2023
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In addition, the Company has initiated a surface drilling program at its 100% owned Lucky Shot project.

Key Points: 
  • In addition, the Company has initiated a surface drilling program at its 100% owned Lucky Shot project.
  • View the full release here: https://www.businesswire.com/news/home/20230829018948/en/
    Figure 1: Photo of the CAT 6030 shovel loading a 777 CAT (85 ton) haul truck at Manh Choh Mine.
  • The opening at the Manh Choh mine was officially celebrated with a ground-breaking ceremony on August 29th.
  • Future drilling of approximately 12,000 meters (39,000 feet) from underground at Lucky Shot is expected to be undertaken in 2024 to augment resources on the Lucky Shot Segment of the vein.

Contango ORE Announces Closing of $30.4 Million Underwritten Public Offering of Common Stock

Retrieved on: 
Wednesday, July 26, 2023
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Contango ORE, Inc. (“Contango,” “CORE” or the “Company”) (NYSE American: CTGO), today announced the closing of its previously announced underwritten public offering (the “Offering”) of 1,600,000 shares of its common stock at a public offering price of $19.00 per share.

Key Points: 
  • Contango ORE, Inc. (“Contango,” “CORE” or the “Company”) (NYSE American: CTGO), today announced the closing of its previously announced underwritten public offering (the “Offering”) of 1,600,000 shares of its common stock at a public offering price of $19.00 per share.
  • Gross proceeds from the Offering were $30.4 million before deducting underwriting discounts, commissions, and Offering expenses.
  • In addition, Contango has granted the underwriters a 30-day option to purchase up to an additional 240,000 shares of common stock.
  • The final terms of the Offering are disclosed in a final prospectus supplement which has been filed with the SEC.

Contango ORE Announces Pricing of $30.4 Million Underwritten Public Offering of Common Stock

Retrieved on: 
Monday, July 24, 2023
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Contango ORE, Inc. (“Contango,” “CORE” or the “Company”) (NYSE American: CTGO), today announced the pricing of its previously announced underwritten public offering (the “Offering”) of 1,600,000 shares of its common stock at a public offering price of $19.00 per share.

Key Points: 
  • Contango ORE, Inc. (“Contango,” “CORE” or the “Company”) (NYSE American: CTGO), today announced the pricing of its previously announced underwritten public offering (the “Offering”) of 1,600,000 shares of its common stock at a public offering price of $19.00 per share.
  • Gross proceeds from the Offering are expected to be $30.4 million before deducting underwriting discounts, commissions, and estimated Offering expenses.
  • In addition, Contango has granted the underwriters a 30-day option to purchase up to an additional 240,000 shares of common stock.
  • The final terms of the Offering will be disclosed in a final prospectus supplement to be filed with the SEC.

Contango ORE Announces Underwritten Public Offering of Common Stock

Retrieved on: 
Friday, July 21, 2023
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Contango ORE, Inc. (“Contango,” “CORE” or the “Company”) (NYSE American: CTGO), today announced it has commenced an underwritten public offering (the “Offering”) of shares of its common stock.

Key Points: 
  • Contango ORE, Inc. (“Contango,” “CORE” or the “Company”) (NYSE American: CTGO), today announced it has commenced an underwritten public offering (the “Offering”) of shares of its common stock.
  • All of the shares of common stock in the Offering are to be sold by Contango.
  • In addition, Contango intends to grant the underwriters in the Offering, a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the Offering.
  • The Offering is subject to market conditions, and there can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering.

Contango ORE Issues Initial S-K 1300 Resource Technical Report Summary for the Lucky Shot Project, Alaska – Indicated grades average 15 g/t

Retrieved on: 
Monday, June 12, 2023
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Contango ORE, Inc. (“Contango,” “CORE” or the “Company”) (NYSE American: CTGO) announced that it has filed an initial Technical Report Summary (“TRS”) detailing the gold resources at the Lucky Shot Project located near Willow, Alaska.

Key Points: 
  • Contango ORE, Inc. (“Contango,” “CORE” or the “Company”) (NYSE American: CTGO) announced that it has filed an initial Technical Report Summary (“TRS”) detailing the gold resources at the Lucky Shot Project located near Willow, Alaska.
  • An uncapped gold estimate within the resource shapes produces roughly 30 to 38% more total gold metal globally for both the Lucky Shot and Coleman segments of the Lucky Shot vein (Table 4).
  • Figure 1 shows the gold composites vs gold estimation for the Coleman segment which has far more drilling than the Lucky Shot segment.
  • As the area in general is underexplored, there is good potential to delineate additional exploration targets on the Lucky Shot Project lease.

Contango ORE Enters Into Project Finance Mandate With ING and Macquarie to Fund the Construction of Its Share of the Manh Choh Gold Project Alongside JV Partner Kinross Gold

Retrieved on: 
Monday, March 20, 2023
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The project has received the federal permits needed for road construction and early work construction has already commenced.

Key Points: 
  • The project has received the federal permits needed for road construction and early work construction has already commenced.
  • Independently, the Company also owns the Lucky Shot gold project which it is actively exploring and developing.
  • Manh Choh is a high grade, 8g/t gold equivalent open pit gold project.
  • Contango has received significant interest from banks and alternative lenders to provide financing for its share of the Manh Choh project.

Contango ORE Announces Earnings For Quarter Ended December 31, 2022

Retrieved on: 
Monday, February 6, 2023
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The Company expects to experience additional losses until the Manh Choh project begins commercial production, which we anticipate will be in the second half of 2024.

Key Points: 
  • The Company expects to experience additional losses until the Manh Choh project begins commercial production, which we anticipate will be in the second half of 2024.
  • The Company also announced that it filed its Form 10-Q for the quarter ended December 31, 2022, with the Securities and Exchange Commission.
  • Rick Van Nieuwenhuyse, the Company’s President and Chief Executive Officer, commented, “The Company ends 2022 with a very productive period of initial construction activities at its 30% owned Manh Choh project.
  • We look forward to continuing to update shareholders and investors on our progress in developing Alaska’s next gold mines.”

Contango ORE, Inc. Announces Private Placement of Common Stock

Retrieved on: 
Thursday, January 19, 2023
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Contango ORE, Inc. (“CORE” or the “Company”) (NYSE American: CTGO) announced today the issuance and sale of an aggregate of 117,500 shares for $20.00 per share (the “Shares”) of the Company’s common stock, par value $0.01 per share (the “Common Stock”), and warrants (the “Warrants”) entitling each purchaser to purchase shares of Common Stock for $25.00 per share (the “Warrant Shares” and together with the Common Stock and the Warrants, the “Securities”), in a private placement (the “Private Placement”) pursuant to Subscription Agreements, (the “Subscription Agreements”) dated as of January 19, 2023 between the Company and certain accredited investors (the “Purchasers”).

Key Points: 
  • Contango ORE, Inc. (“CORE” or the “Company”) (NYSE American: CTGO) announced today the issuance and sale of an aggregate of 117,500 shares for $20.00 per share (the “Shares”) of the Company’s common stock, par value $0.01 per share (the “Common Stock”), and warrants (the “Warrants”) entitling each purchaser to purchase shares of Common Stock for $25.00 per share (the “Warrant Shares” and together with the Common Stock and the Warrants, the “Securities”), in a private placement (the “Private Placement”) pursuant to Subscription Agreements, (the “Subscription Agreements”) dated as of January 19, 2023 between the Company and certain accredited investors (the “Purchasers”).
  • The Company will use the net proceeds from the Private Placement to fund its exploration and development program and for general corporate purposes.
  • The Securities sold were not registered under the Securities Act of 1933, as amended, but the Common Stock issued in the offering and the shares of Common Stock issued upon exercise of the Warrants are subject to a Registration Rights Agreement allowing the shares to be registered by the holders at a future date.
  • Petrie Partners Securities, LLC acted as sole placement agent on a portion of the transaction.

Contango ORE, Inc. Announces Private Placement of Common Stock and Year-End Update

Retrieved on: 
Friday, December 23, 2022
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The Subscription Agreements include customary representations, warranties, and covenants by the Purchasers and the Company.

Key Points: 
  • The Subscription Agreements include customary representations, warranties, and covenants by the Purchasers and the Company.
  • The Company will use the net proceeds from the Private Placement to fund its exploration and development program and for general corporate purposes.
  • Petrie Partners Securities, LLC acted as sole placement agent on a portion of the transaction.
  • We look forward to continuing to update our shareholders and investors on our progress at both our Manh Choh and Lucky Shot projects.