Business
Contango ORE Announces Earnings For the Quarter Ended March 31, 2022
HOUSTON / May 11, 2022 / Business Wire / Contango ORE, Inc. (“Contango,” "CORE" or the “Company”) (NYSE American: CTGO) announced that it had a net loss of $(6.
About this update from Contango Silver & Gold Inc.
[{"type":"text","content":"HOUSTON / May 11, 2022 / Business Wire / Contango ORE, Inc. (“Contango,” \"CORE\" or the “Company”) (NYSE American: CTGO) announced that it had a net loss of $(6.8) million, or $(1.01) per basic and diluted share, for the three months ended March 31, 2022 compared to a net loss of $4.5 million or $(0.73) per basic and diluted share for the same period last year. For the nine months ended March 31, 2022, the Company reported a net loss of $16.9 million, or $(2.42) per basic and diluted share, for the nine months ended March 31, 2022 compared to a net income of $25.7 million or $4.11 per basic and diluted share for the same period last year. The decrease in income for the nine month period ended March 31, 2022 is due to gain on the sale of a portion of the Company’s equity interest in Peak Gold, LLC to a subsidiary of Kinross Gold Corporation during the prior period. The Company also announced that it filed its Form 10-Q for the quarter ended March 31, 2022 with the Securities and Exchange Commission. ABOUT CORE CORE is a company that engages in the exploration in Alaska for gold and associated minerals through a 30% interest in Peak Gold, LLC, which leases approximately 675,000 acres for exploration and development, and through Contango Minerals Alaska, LLC, its wholly owned subsidiary, which leases approximately 200,000 acres for exploration. The Company also owns the rights to the Lucky Shot, Coleman and War Baby mines, and approximately 16,600 acres of surrounding mining claims located in Willow Mining District about 75 miles north of Anchorage, Alaska. Additional information can be found on our web page at www.contangoore.com. FORWARD-LOOKING STATEMENTS This press release contains forward-looking statements regarding CORE that are intended to be covered by the safe harbor for “forward-looking statements” provided by the Private Securities Litigation Reform Act of 1995, based on CORE’s current expectations and includes statements regarding future results of operations, quality and nature of the asset base, the assumptions upon which estimates are based and other expectations, beliefs, plans, objectives, assumptions, strategies or statements about future events or performance (often, but not always, using words such as “expects”, “projects”, “anticipates”, “plans”, “estimates”, “potential”, “possible”, “probable”, or “in...