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Contango ORE Announces Results of the 2023 Virtual Annual Meeting of Stockholders and Results for the Quarter Ended September 30, 2023
HOUSTON / Nov 14, 2023 / Business Wire / Contango ORE, Inc. (“Contango” or the “Company”) (NYSE American: CTGO) announced today that the Company held its annual
About this update from Contango Silver & Gold Inc.
[{"type":"text","content":"HOUSTON / Nov 14, 2023 / Business Wire / Contango ORE, Inc. (“Contango” or the “Company”) (NYSE American: CTGO) announced today that the Company held its annual meeting of stockholders on November 14, 2023 and the following directors were elected to serve until the 2024 annual meeting of stockholders: Brad Juneau Rick Van Nieuwenhuyse Joseph S. Compofelice Curtis J. Freeman Richard A. Shortz The following proposals were also approved by the stockholders: The approval the 2023 Omnibus Incentive Plan; The ratification of the appointment of Moss Adams LLP as the independent auditors of the Company for the fiscal year ending June 30, 2024; The approval, on a non-binding advisory basis, of the compensation of the Company’s named executive officers; The grant of discretionary authority to the Chairman of the Annual Meeting to adjourn the Annual Meeting, if necessary to solicit additional proxies. The Company also announced that it filed its Form 10-Q for the quarter ended September 30, 2023 with the Securities and Exchange Commission on November 14, 2023. The Company reported a net loss of $13.1 million or ($1.47) per basic and diluted share for the three months ended September 30, 2023, compared to a net loss of $7.1 million or ($1.05) per basic and diluted share for the same period last year. The increase in net loss is primarily due to the recognition of a loss from its equity investment in Peak Gold, LLC for the Manh Choh project and the loss on derivative contracts related to gold hedges put in place during the quarter. Rick Van Nieuwenhuyse, the Company’s President and CEO commented, “The Peak Gold JV remains on schedule and on budget to reach production at the Manh Choh project in the second half of 2024. I am extremely pleased with the progress to date and will continue to provide updates on milestones as we approach commencement of production.” ABOUT CONTANGO Contango is a NYSE American listed company that engages in exploration for gold and associated minerals in Alaska. Contango holds a 30% interest in Peak Gold, LLC (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 an indirect subsidiary of Kinross Gold Corporation (“Kinross”), operator of the Peak Gold JV. The Company also has a lease on the Lucky Shot project fr...