Business
Contango ORE, Inc. Starts Process to Solicit Proposals for the Potential Sale of the Company
HOUSTON--(BUSINESS WIRE)--Contango ORE, Inc. (“CORE” or the “Company”) (OTCQB: CTGO) announced today that Royal Gold, Inc., the parent of Royal Alaska, LLC (“Ro
About this update from Contango Silver & Gold Inc.
[{"type":"text","content":"HOUSTON--(BUSINESS WIRE)--Contango ORE, Inc. (“CORE” or the “Company”) (OTCQB: CTGO) announced today that Royal Gold, Inc., the parent of Royal Alaska, LLC (“Royal Alaska”) CORE’s joint venture partner in the Peak Gold, LLC joint venture (“Peak Gold”), which is developing the Peak Gold exploration project located near Tok, Alaska (“the Peak Gold Project”), has retained Scotia Capital Inc. to conduct a joint process for the sale directly or indirectly of the Peak Gold Project’s properties in Alaska. CORE’s 60% interest in the Peak Gold Project plus cash on hand constitute substantially all of CORE’s assets. CORE has no borrowings. As previously announced, CORE has retained Petrie Partners, LLC and Cantor Fitzgerald and Co. to advise CORE on its strategic options. CORE is primarily interested in a sale of CORE stock in exchange for cash and/or liquid publicly traded shares. Brad Juneau, the Company’s CEO, said, “The Company and its joint venture partner Royal Alaska have spent several years exploring for a commercial gold deposit, and the previously released Preliminary Economic Assessment of the Main Peak and North Peak resource areas are very encouraging. There is significant exploration upside remaining on the acreage, and along with the Main Peak and North Peak resource areas, we believe our project will be one of the most attractive in the North American market.” ABOUT PEAK GOLD Peak Gold is a joint venture between Royal Alaska, a wholly-owned subsidiary of Royal Gold, and CORE Alaska, a wholly-owned subsidiary of CORE. Peak Gold holds a 675,000 acre lease with the Native Village of Tetlin and an additional 175,000 acres of State of Alaska mining claims, all located near Tok, Alaska, on which Peak Gold explores for minerals. CORE Alaska holds a 60% membership interest in Peak Gold and Royal Alaska holds a 40% membership interest in Peak Gold and is the manager of the joint venture. ABOUT CORE CORE is a Houston-based company that engages in the exploration in Alaska for gold and associated minerals through Peak Gold, its joint venture company with Royal 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 “forward-looking statements” provided by the P...