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Contango ORE, Inc. Announces Annual Meeting of Stockholders Results,Quarterly Results and Retains Cantor Fitzgerald and Petrie Partners toAdvise on Strategic Alternatives
HOUSTON--(BUSINESS WIRE)--Contango ORE, Inc. (“CORE” or the “Company”) (OTCQB: CTGO) held its annual meeting of stockholders on November 12, 2018 and the follow
About this update from Contango Silver & Gold Inc.
[{"type":"text","content":"HOUSTON--(BUSINESS WIRE)--Contango ORE, Inc. (“CORE” or the “Company”) (OTCQB: CTGO) held its annual meeting of stockholders on November 12, 2018 and the following directors were elected: Brad JuneauJoseph S. CompofeliceJoseph G. GreenbergRichard A. Shortz Additionally, the Company’s Board of Directors re-appointed the following officers of the Company: Brad JuneauChairman of the Board, President and Chief Executive Officer Leah GainesVice President, Chief Financial Officer, Chief Accounting Officer, Treasurer and Secretary The Company also appointed Moss Adams LLP as the independent auditors of the Company for the fiscal year ending on June 30, 2019. The Company also announced that it filed its Form 10-Q for the quarter ended September 30, 2018 with the Securities and Exchange Commission. The Company reported a net loss of $2.9 million or ($0.47) per basic and diluted share for the three months ended September 30, 2018 compared to a loss of $0.7 million or $(0.14) per basic and diluted share for the same period last year. During the three months ended September 30, 2018, $2.0 million of the net loss was attributed to loss from equity investment in Peak Gold, LLC, (“the Peak Gold Project”), a joint venture between the Company’s wholly owned subsidiary CORE Alaska, LLC and Royal Alaska, LLC, a wholly owned subsidiary of Royal Gold Inc., compared to $0 for the same period last year. The increase in the net loss is due primarily to resumption of the Company making capital contributions to Peak Gold, LLC, as a result of Royal Gold earning its full 40% interest in the joint venture. Accordingly, the Company has resumed recognizing its allocable share of the Peak Gold Project losses. Brad Juneau, the Company’s President and CEO commented, “Given the positive response to the recently announced Preliminary Economic Assessment that was completed on the Peak and North Peak resource areas of the Peak Gold Project, the Company has retained the investment banking firms of Cantor Fitzgerald & Co and Petrie Partners, LLC to advise the board of directors on strategic alternatives.” ABOUT CORE CORE is a Houston-based company that engages in the exploration in Alaska for gold and associated minerals through Peak Gold, LLC, CORE’s joint venture company with Royal Alaska, LLC, a wholly owned subsidiary of Royal Gold, Inc. Additional information...