Contango Silver & Gold - Update on Hedges

Investor webinar replay

Meeting Overview The meeting featured Rick Van Nuenhuis, CEO, and Mike Clark, CFO, of Contango Silver and Gold, discussing the company's recent announcement about converting their last hedged gold ounces into debt. This strategic move eliminates their hedge book, allowing for greater exposure to gold price increases. Key Discussion Points - Announcement of the complete elimination of the hedge book by converting 15,000 ounces of hedged gold into debt. - Discussion on the implications of this move for shareholders and the company's future production plans. - Analysis of the financial details surrounding the hedge settlement, including costs and interest rates. - Insights into the timing of the decision related to gold price fluctuations and central bank buying activity. - Overview of lender support and the rationale behind the conversion from hedges to debt. Decisions Made - The decision to eliminate the hedge book by converting hedged gold into debt was finalized. Action Items & Nex...

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Replay transcript excerpt

[Speaker identities could not be resolved; generic labels used] [00:04] Speaker 1: When they're coming in quite quickly, I'll say good morning, good afternoon or good evening, depending on where in the world you're signing in from. I'm very thrilled today to be joined by Rick Van Nuenhuis, CEO of Contango Silver and Gold, and Mike Clark, the company's CFO, for a very exciting event. I imagine particularly for Mike, is this the last time I'll ever ask him about hedges. [00:20] Speaker 1: So it's presumably something he's quite pleased about. But here's how today's gonna work just for the folks in the room. I got a number of questions just to talk about the company's most recent exciting news from this morning. But this is an interactive event. I know some people already submitted questions in advance on email. Appreciate those. We'll get to them. For everybody else, there's a chat button at the bottom. Please feel free to ask questions during today's event. I'll get to as many as we can. We're hoping this is going to be a pretty quick event, probably 20, 25 minutes. So I don't get to your question. Also, make sure the Contango team gets them afterwards so you can walk through them. [00:50] Speaker 1: The only other thing I'll say is this is being recorded and will be available for replay probably about 3 p.m. Eastern. It'll pop right in your inbox, but it'll also be available on Six's YouTube channel shortly thereafter. [01:00] Speaker 1: But let me get right into the protein because this is exciting news. Rick, I want to start with the headline. You converted the last 15000 ounces of hedged gold into debt, which means for the 1st time, thrilled to say it live and on air. The hedge book is completely gone. So walk us through what this announcement actually means for C...