Join CEO Rick Van Nieuwenhuyse and CFO Mike Clark for some additional context on recent news, as well as a live Q&A.
Fri, November 29, 2024 at 3:00 PMendedReplay
Investor webinar replay
Meeting Overview The meeting provided a corporate update and addressed questions regarding recent developments related to Contango's mining operations, particularly focusing on the impact of new bridge weight limits imposed by the state of Alaska. Key discussions included updates on the mine plan, repayment schedules, and the implications for future operations. Key Discussion Points - Overview of the recent joint venture meeting with Ken Ross and its implications for the mine plan. - Explanation of the new bridge weight limits affecting transportation between the mine site and processing site. - Discussion on potential changes to repayment schedules with lenders due to updated mine plans. - Clarification on the temporary or permanent nature of the weight limits and their future review process. - Impact of reduced delivery tons on the mine life of Moncho. - Analysis of the increase in all-in sustaining costs (ASIC) for the upcoming year and its relation to production levels. - Assura...
Mr. Van Nieuwenhuyse was appointed to serve as President, Chief Executive Officer, and director of the Company effective January 6, 2020. He previously served as President and Chief Executive Officer of Trilogy Metals Inc. from January 2012 until December 2019. Between May 1999 and January of 2012, he served as the President and Chief Executive Officer of NOVAGOLD, Inc, a company that he founded. He served as the Vice President of Exploration for Placer Dome from 1990 to 1997. Mr. Van Nieuwenhuyse holds a Candidature degree in Science from Université de Louvain, Belgium and a Master of Science degree in Geology from the University of Arizona. Mr. Van Nieuwenhuyse currently serves on the board of directors of Alexco Resource Corp. He served on the board of directors of Sandfire Resources America, Inc. (formerly, Tintina Resources Inc.) from 2008 until 2016. Mr. Van Nieuwenhuyse has over forty years of experience in the minerals mining industry and brings significant industry and technical knowledge to the Company.
Mr. Clark was appointed to serve as Executive Vice President - Finance of the Company, effective July 11, 2023. He was then appointed as Chief Financial Officer & Corporate Secretary, effective January 1, 2024. He previously served as Chief Financial Officer and Corporate Secretary for Alexco Resource Corp. from December 2014 to September 2022 at which time Alexco Resource Corp was acquired by Hecla Mining Company. Between 2010 and 2014, Mr. Clark served as Chief Financial Officer of Goldgroup Mining Inc. and from 2007 to 2010 Mr. Clark served as Chief Financial Officer for the Grosso Group and its member companies. Mr. Clark received an undergraduate degree from the British Columbia Institute of Technology and is a Canadian Qualified Chartered Professional Accountant. Between 2016 and 2020, Mr. Clark also served on the Board of Trustees for the Burnaby Hospital Foundation as Chair of the Finance Committee.
Replay transcript excerpt
Speaker 1: Good afternoon, good evening, depending on where you're logging in from today. Really appreciate everybody joining us for a corporate update and Q&A session Speaker 1: from Contango or related to this morning's press release. So I'm joined today by the company's president and CEO, Rick Van Nuenhuyzen and their CFO, Mike Clark. Gentlemen, thanks so much for joining me today. Speaker 2: Romeo, good to see you again. Speaker 2: And thanks Speaker 2: for hosting this Speaker 2: and to everybody out there, Speaker 2: happy Thanksgiving weekend. Speaker 2: Obviously, Speaker 2: we wanted to put some news out today Speaker 2: that was important Speaker 2: from a timing Speaker 2: perspective. Speaker 2: We recently had a joint venture meeting with our partner, Ken Ross, Speaker 2: which gave us a new updated Speaker 2: plan for 2025 Speaker 2: and the life of mine plan. Speaker 2: And so we wanted to get that news out as quickly as we could. Speaker 2: We are still formulating Speaker 2: information. Ken Ross is still processing Speaker 2: information. Speaker 2: And the bottom line is the mine plan really resolves, revolves around Speaker 2: the reduction Speaker 2: in bridge weights that was imposed by the state recently, Speaker 2: imposed by the state of Alaska Speaker 2: Department of Transportation. Speaker 2: And it pertains to 1 particular bridge that's really kind of in the middle of the road route Speaker 2: between mine site, Moncho, and Speaker 2: the processing site at Fort Knox, the Chena River floodplain bridge, Speaker 2: which happens to actually the new, 1 of the newest bridges on the road route. Speaker 2: So that reduction is Speaker 2: basically resulting in a net 20%, Speaker 2: fewer tons that can be delivered Speaker 2: and thereby restric...
