Update on Contango ORE Financing and Exploration Plans

Investor webinar replay

Meeting Overview The meeting discussed Contango Ore's recent $50 million financing raise and its implications for the company's exploration plans, particularly for the Lucky Shot and Johnson Tract projects. Key executives provided insights into the strategic rationale behind the financing, the structure of the investment, and future operational plans. Key Discussion Points - Overview of the $50 million financing raise at $20 per share to institutional investors. - Strategic rationale for the timing of the financing, emphasizing the need to advance projects without delay. - Discussion on the pre-funded warrants and their purpose in accommodating institutional investors. - Explanation of the decision to pursue shareholder dilution over bank borrowing or hedging. - Plans for drilling operations at Lucky Shot and Johnson Tract, including timelines and logistical considerations. - Current hedge position and strategy for managing hedge contracts in relation to gold prices. Decisions Made ...

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[Speaker identities could not be resolved; generic labels used] [00:03] Speaker 1: Good morning, good afternoon, good evening, depending on where you're signing in from. It's quite an international audience today, so I really do appreciate everybody's time. I've got with me Rick Van Nuenhuisen, CEO of Contango Ore, and Mike Clark, the company's CFO, to discuss this week's announcement on financing and exploration plans. Gentlemen, how are you today? [00:19] Speaker 2: Doing good. [00:20] Speaker 2: Good to be here. [00:22] Speaker 1: Awesome. [00:22] Speaker 1: So here's how today's going to work just for the folks in the room. I've got a number of questions for both of them about the financing and their exploration, but this is an interactive event. So please do enter your questions in the chat button in the bottom right of your screen. At any point during today's event, I'll make sure we get to as many as possible while we go through it. Even if I don't get to your question today, I will be sending the entire transcript to the Contango team, so I'll get back to you as soon as possible. [00:45] Speaker 1: This event is also being recorded and will be available for replay probably at about 3.30pm [00:49] Speaker 1: Eastern Time. It'll pop in right into your inbox, but it'll be on the same link but also on Six's YouTube channel. [00:55] Speaker 1: But enough out of me, I want to get into the protein of today's event as quickly as possible. So, Rick, Just closed, $50 million raise, $20 per share to institutional investors. [01:04] Speaker 1: Obviously, this is a pretty big cash injection for a company that's already generating positive cash flow. So I'm looking for from you is the strategic rationale behind both this timing and then tell me who are the investors and pa...