Contango Ore Secures Funding for Exploration & Growth! Contango Ore Secures Funding for Exploration & Growth! Great news for Contango Ore!
They just announced a successful US$15 million equity financing. This is a positive sign for the company's future, as it fuels their exploration and development efforts.
Fundamental Research Corp's analysts are particularly upbeat about the news. They highlight Contango's Manh Choh project (partnered with Kinross Gold) which is on track for production in Q3-2024.
That's exciting progress! On top of that, Contango's acquisition of HighGold Mining is expected to close next month. This brings the Johnson Tract project into the mix, boasting ultra high-grade gold potential in Alaska (over 1 million ounces!).
The financing proceeds will be used to explore both the Lucky Shot project and this new Johnson Tract project. This is a strategic move that could significantly expand Contango's gold portfolio.
Overall, this is positive news for Contango Ore. Analysts are excited, and the company is well-positioned for future growth.
What do you all think?
You can read more in the free analyst report here: https://www.researchfrc.com/content/analyst-ideas/post/105/sp-500-defies-downturn-in-global-indices-lithium-stock-soars-ai-market-insights
Disclaimer: FRC provides issuer-paid coverage. Past performance is not indicative of future results.