Join CEO Rick van Nieuwenhuyse and CFO Mike Clark for a review of recent news. There will be an opportunity to ask the Contango team live questions.
Tue, February 18, 2025 at 1:00 PMendedReplay
Investor webinar replay
Meeting Overview The meeting focused on discussing a recent press release regarding Contango OARS' financial restructuring, including updates on debt repayment schedules and hedge delivery dates. Key executives Rick Van Doornhuyzen and Mike Clark addressed questions from participants regarding financial forecasts, permitting processes for projects, and expected cash flows. Key Discussion Points - Overview of the recent press release and its implications for the company. - Rescheduling of hedge delivery dates and debt repayment schedules with lenders. - Discussion on expected distributions from the joint venture based on current gold prices. - Explanation of changes in exposure to spot prices and production forecasts. - Clarification on the absence of charges for the restructuring with lenders. - Update on permitting processes for the Johnson Track and Lucky Shot projects. - Future focus on finding processing solutions for ore bodies. Decisions Made - No explicit decisions recorded. ...
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 morning or good afternoon, depending on where in the world you're signing in from today. And thanks as always for joining us. Today, I'm pleased to have on Rick Van Doornhuyzen, Contango OARS CEO and Mike Clark, company CFO, discuss this morning's press release. Gentlemen, how are you today? Speaker 2: Doing well. Speaker 2: Morning. Speaker 1: Awesome. So here's how today's gonna work. I'm 1st gonna throw it to Rick for a quick kind of State of the Union based on this morning's news. Then I'm gonna jump back on, go through a few questions, including some that came in advance via email. But then I'm going to get into questions from the live chat. This is an interactive event. Please feel free to enter questions for Rick and Mike at any point during today's event, just using the chat in the bottom right of your screen. We'll get to as many as we can. But if for Whatever reason we don't get your question today, I'll make sure that the team gets them so that they can respond to you just via email or call Speaker 1: soon thereafter. Speaker 1: Last piece of housekeeping is today's event is being recorded and will be available for replay this afternoon. Speaker 1: Very likely by 2 or 3 in the afternoon Eastern time, it'll come right in your inbox, and at that point you can share it. It'll be up on both YouTube and events. That's 6. But without further ado, I'll throw it Speaker 1: to Rick to get started. Speaker 2: Thank you, Romeo, and thank you to 6 for hosting our webinar today. Speaker 2: Yeah, Important press release out. Obviously, Speaker 2: it's taken Speaker 2: a little longer to get this out than we really wanted to, but we have come to an arrangement with our lenders Speaker 2: on rescheduling Speaker 2: the Speaker 2: hedge delivery dates and t...
