Business
Contango Announces $24.0 Million in Cash Distribution from the Peak Gold JV and Completion of First Campaign of 2025
Contango ORE, Inc. ("Contango" or the "Company") (NYSE American: CTGO) is pleased to announce that the Peak Gold JV has made cash distributions totaling $24 million ("M") to Contango in the first quarter of 2025 ("Q1-2025"). These distributions consist of two payments: $9 M related to additional cash profits from 2024 production, paid on March 12, 2025; and $15 M related to profits from the first half of Campaign #1 for 2025 ("Campaign #1-2025"), paid on March 27, 2025. Campaign #1-2025 is expec
About this update from Contango Silver & Gold Inc.
[{"type":"text","content":"FAIRBANKS, Alaska, March 31, 2025 /PRNewswire/ - Contango ORE, Inc. ("Contango" or the "Company") (NYSE American: CTGO) is pleased to announce that the Peak Gold JV has made cash distributions totaling $24 million ("M") to Contango in the first quarter of 2025 ("Q1-2025"). These distributions consist of two payments: $9 M related to additional cash profits from 2024 production, paid on March 12, 2025; and $15 M related to profits from the first half of Campaign #1 for 2025 ("Campaign #1-2025"), paid on March 27, 2025. Campaign #1-2025 is expected to be completed by late April, at which time a third cash distribution from gold sales is anticipated.","length":705,"tagName":"p"},{"type":"image","alt":"Contango Logo (CNW Group/Contango Ore)","displaySize":"","headline":null,"caption":"Contango Logo (CNW Group/Contango Ore)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":267,"url":"https://media.zenfs.com/en/prnewswire.com/6f90d690375d1c509245f027341a9cac"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/g7MC9OwCiBG95fqFFQ.JbA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTQ3MTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/6f90d690375d1c509245f027341a9cac","width":400,"height":267}},"href":"https://mma.prnewswire.com/media/2653247/Contango_Ore_Contango_Announces__24_0%C2%A0Million_in_Cash_Distributi.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Additionally, the Company is pleased to report production results from Campaign #1-2025, which included ore processed from February 7, 2025 through March 19, 2025. The Peak Gold JV (on a 100% basis) processed 323,000 tons of ore with an average grade of 0.215 ounces ("oz") per ton and containing approximately 69,500 oz of gold. Gold recovery averaged 93.5%, resulting in approximately 65,000 oz of recovered gold, of which Contango's 30% share amounts to approximately 19,500 oz of gold. As of the date of this release, the Company has sold 13,961 oz of gold from Campaign #1-2025, with the remainder expected to be sold by late April.","length":662,"tagName":"p"},{"type":"text","content":"Rick Van Nieuwenhuyse, the Company's President and CEO stated, "On March 19th, the Peak Gold JV completed processing the first campaign of 2025, with Contango's 30% sh...