Business
Contango Announces $19.3 Million in Income from Operations for the Quarter Ended March 31, 2025
Contango ORE, Inc. ("Contango" or the "Company") (NYSE American: CTGO) announced today that it filed with the Securities and Exchange Commission its Form 10-Q for the quarter ended March 31, 2025 ("Q1-2025") compared with the quarter ended March 31, 2024 ("Q1-2024").
About this update from Contango Silver & Gold Inc.
[{"type":"text","content":"FAIRBANKS, Alaska, May 14, 2025 /PRNewswire/ - Contango ORE, Inc. ("Contango" or the "Company") (NYSE American: CTGO) announced today that it filed with the Securities and Exchange Commission its Form 10-Q for the quarter ended March 31, 2025 ("Q1-2025") compared with the quarter ended March 31, 2024 ("Q1-2024").","length":354,"tagName":"p"},{"type":"image","alt":"Contango ORE, Inc. Logo (CNW Group/Contango Ore)","displaySize":"","headline":null,"caption":"Contango ORE, Inc. Logo (CNW Group/Contango Ore)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":267,"url":"https://media.zenfs.com/en/prnewswire.com/f55b0910364f1af8e6fce81e47a76221"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/EO3zEDcEdNYggeq2teNRNg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTQ3MTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/f55b0910364f1af8e6fce81e47a76221","width":400,"height":267}},"href":"https://mma.prnewswire.com/media/2687675/Contango_Ore_Contango_Announces__19_3_Million_in_Income_from_Ope.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"The Company reported total income for operations of $19.3 M in Q1-2025 compared to a loss of $2.9 M for Q1-2024. For Q1-2025, the Company reported a net loss of $22.3 M, including a non-cash expense of $40.5 M from an unrealized loss on derivative contracts. In Q1-2025, Contango sold 17,382 ounces of gold with cash costs on a by-product basis, per ounce ("Cash Costs") of $1,334 and all-in-sustaining costs per ounce ("AISC") of $1,374. The Company's unrestricted cash position as of March 31, 2025 was $35.0 million ("M") compared to $20.1 M as of December 31, 2024.","length":608,"tagName":"p","attribs":{}},{"type":"text","content":"Rick Van Nieuwenhuyse, President and CEO of the Company, stated, "The first quarter of 2025 was very successful for the Company with Contango's share of Manh Choh gold production exceeding quarterly guidance with 17,382 ounces sold and AISC coming in at $1,374 per ounce, well below the 2025 target of $1,625 per ounce. Gold production from the first campaign of 2025 continued into the second quarter with a further 3,810 ounces in recoverable inventory at the end of the quarter. During the quarter we delivered almost 12,000 ounces to the hedge ...