what gold price produces US$100M of FCF per year at the producing Alaskan operations? Thank you

Although high-grade allows for longer transport distances in DSO scenarios at profitable levels, but is ore sorting possible at any of the four projects?

can you provide us with expected revenues and expected use of funds for next year, for both Contango's current plans and dolly Varden's Exploration

It seems obvious that this is good deal for Dolly Varden. Getting to be part of a cash flowing monster with +200% AuEq ounce self-funded production growth over the next 3-5 years - this at a silly 300M valuation (at 200k oz/y it could be 1.5-3B valuation in the next few years). Dolly on the other hand is one of the highest valued silver explorer (per AgEq in ground). While the values of the companies are similar today, I do kinda feel one is grossly undervalued and the other one with a premium valuation, doesn't give Contango enough value in a 50/50 split owner of the merged company. Dolly avoids further dilution and basically gets free funding for its mine from Contangos cash flow and 100 million USD in the bank. Although I understand the silver-story gives a higher premium valuation, I am still not sure about this. Of course Shawn is a great promoter - love his interviews and company presentations, so that is an asset to get. While the "getting bigger" is nice, it also means your percentage growth is less as you start from a higher valuation but have the same growth as with the Contango (as Dolly gives no growth in the forseeable future?). Contango also have double the grade compared to Dolly Varden in the mines, meaning higher margin mines compared to Dolly's. Shawn are you ready to give Contango a more fair share of the merged company? Or can you motivate better why this is better for Contango than just keep building cash, developing own assets from cash flow, and do share-buys with left-over cash. Higher valuation will come for Contango, especially when the gold-hedges run out in about half a year, when the cash flow will increase a lot again.

In the say next 2 years, if an opportunity to acquire projects/companies, would you consider them ? Or do you think you have enough on your plate right now with the merger ?

can you provide us with expected revenues and expected use of funds for next year, for both Contango's current plans and dolly Varden's Exploration

Hey MM that should be covered in the replay and accompanying slide deck

How much more revenue will come in once the hedges are off?

DVS' PEA was expecyed to be released around Q1 2027.

RM do you have a link to the accompanying slide deck? didn't see it. thx

Will a combined PEA change that timeline?

MM will send you

👍

Thank you for this wonderful presentation!

Sorry if I didn't get to your question today - was just a lot of information to get through. I'll make sure the teams get all your Qs

Replay video should be available shortly this afternoon

looking at today's MVs Dolly is worth 14% more. will there be an adjustment on the merger to reflect this?

Thanks a lot, have a great day everyone!

Ah, I just rewatched (joined late due to connection issues). I see my question about the PEA timeline is answered already. Nevermind!

As DV Investor i purchased on TSX. How will i know when and if you plan to apply for TSX listing. I don’t want any USA withholding taxes at all in my portfolio. I heard how you said you only want it to be an American Company. Please respond as I read that after the merger you will be applying for TSX listing. Thanks for presentation.