Business
Contango Silver & Gold Announces Results for the Quarter Ended March 31, 2026
FAIRBANKS, Alaska, May 14, 2026 /PRNewswire/ - Contango Silver and Gold Inc. ("Contango" or the "Company") (NYSE American: CTGO) (TSX: CTGO) announced today tha
About this update from Contango Silver & Gold Inc.
[{"type":"text","content":"FAIRBANKS, Alaska, May 14, 2026 /PRNewswire/ - Contango Silver and Gold Inc. (\"Contango\" or the \"Company\") (NYSE American: CTGO) (TSX: CTGO) announced today that it filed with the Securities and Exchange Commission its Form 10-Q for the quarter ended March 31, 2026 (\"Q1-2026\"). Rick Van Nieuwenhuyse, Chief Executive Officer of the Company, stated, \"The first quarter of 2026 was a period of significant operational transition and strategic growth. At Manh Choh, while harsh winter conditions and operational challenges impacted Q1 throughput and costs, we are pleased to report that we are now entering a high-production phase; we expect ore tons processed and ore grade processed to increase for the remainder of the year, as we transition into the higher-grade portions of the South Pit. Manh Choh remains on track to meet our 2026 guidance of 40,000 to 45,000 ounces of gold production, which will set the stage for 2027, which we are guiding to 75,000 to 80,000 ounces of gold production with cash costs of $1,200 to $1,300 per ounce sold and all-in sustaining costs of $1,300 to $1,400 per ounce sold. With this momentum, our cost guidance for the year remains firm. During the quarter we received a US$9 million (\"M\") cash distribution from the Peak Gold JV. Our cash on hand for the end of the quarter was US$97.5 M an increase from US$64.8 M at December 31, 2025. For 2026, we anticipate cash costs between $1,900 to $2,000 and all-in sustaining costs of $2,200 to $2,300 per ounce of gold sold. Furthermore, we have strengthened our financial flexibility by reducing hedge contracts to 22,000 ounces and reduced our debt to $13.6 M, both of which we intend to fully settle by year-end.\" Mr. Van Nieuwenhuyse continued, \"This has also been a transformative quarter for our corporate reach. Following the successful merger with Dolly Varden Silver, we have fully integrated our teams and are already seeing the benefits of our combined strengths. It was a true honor to ring the opening bell at the New York Stock Exchange on April 24th, and we look forward to the upcoming ceremony at the Toronto Stock Exchange on June 12th. Our exploration and development pipeline is equally robust. At Lucky Shot, our underground drilling has exceeded expectations, providing excellent clarity on the system's continuity. We are now accelera...