- Contango ORE (CTGO, Financial) received a $9 million cash distribution from the Peak Gold JV, totaling $33 million in 2025.
- Contango completed its first campaign in 2025, producing approximately 20,000 ounces of gold.
- The company reduced its credit facility debt by $8.2 million to $30.1 million and decreased its hedge contract by 11,939 ounces.
Contango ORE, Inc. (CTGO), a company focused on the exploration and development of gold in Alaska, announced that it received a $9 million cash distribution from the Peak Gold Joint Venture (JV) on April 24, 2025. This brings the total cash distribution received from Manh Choh operations to $33 million for the year 2025.
The company reported the completion of the first of four planned campaigns in 2025, yielding approximately 20,000 ounces of gold credited to Contango's account. The subsequent campaign is scheduled to commence mid-May 2025, as the company aims to reach its annual gold production target of 60,000 ounces.
Contango continues to manage its financial strategy effectively, having prepaid $8.2 million of principal against its credit facility, thus reducing the outstanding balance to $30.1 million. Additionally, the company decreased its hedge contract by 11,939 ounces, lowering it to 74,800 ounces, which reflects strategic financial management.
The company is set to release its financial results for the first quarter of 2025 on May 14, 2025. Furthermore, a preliminary economic assessment of the Johnson Tract project is anticipated by the end of April 2025, signaling potential future opportunities for the company.
