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Contango ORE Inc CTGO

Metals & Mining Industrial Metals & Minerals
Contango ORE, Inc. is engaged in exploration for gold and associated minerals in Alaska. The Company holds a 30% interest in the Peak Gold JV, which leases approximately 675,000 acres of land for exploration and development on the Manh Choh project, with the remaining 70% owned by KG Mining (Alaska), Inc., an indirect subsidiary of Kinross Gold Corporation, operator of the Peak Gold JV. It also has a lease on the Johnson Tract project from the underlying owner, CIRI Native Corporation, a lease on Lucky Shot project from the underlying owner, Alaska Hardrock Inc. and through its subsidiary has 100% ownership of approximately 8,600 acres of peripheral State of Alaska mining claims. It also owns a 100% interest in an additional approximately 145,000 acres of State of Alaska mining claims through its wholly owned subsidiary, which gives the Company exclusive right to explore and develop minerals on these lands. The Company also owns Golden Zone and Amanita NE gold properties.


NYSEAM:CTGO - Post by User

Contango ORE Inc
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Post by sdhakaon Jul 17, 2024 7:44pm
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Post# 36137576

Exciting News for Contango ORE

Exciting News for Contango ORE Exciting News for Contango ORE (NASDAQ: CTGO)!

Contango Ore and Kinross Gold Corporation have commenced production at the Manh Choh mine in Alaska! With an expected annual production of 225 Koz, including 67.5 Koz for CTGO, this medium-sized, ultra high-grade open-pit gold mine is set to operate for 4.5 years.

Strategic Acquisition Alert: CTGO's acquisition of HighGold Mining Inc., valued at $37M, adds the ultra high-grade Johnson Tract project to its portfolio. This project boasts 1.1 Moz AuEq at 9.4 gpt, significantly enhancing CTGO’s production potential.

HighGold’s Impact: The acquisition is highly accretive, with CTGO paying just $30/oz compared to $75+/oz for similar projects. This positions CTGO favourably for quick, cost-effective production.

Analyst Valuation: We maintain a bullish outlook on Contango Ore, driven by its strategic acquisitions and high-grade projects.

Our report covers CTGO’s strategic initiatives, project developments, and market outlook. We believe CTGO is set for significant growth, supported by strong fundamentals and favorable market conditions.

Read the full report here: https://www.researchfrc.com/content/reports/post/81/accretive-acquisition-bolsters-portfolioraising-our-fair-value-estimate

Disclaimer: FRC provides issuer-paid coverage. Past performance is not indicative of future results.
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