Contango Silver & Gold Inc
(AMEX:CTGO)
$
19.27
-1.11 (-5.45%)
Market Cap: 644.40 Mil
Enterprise Value: 587.48 Mil
PE Ratio: 0
PB Ratio: 1.88
GF Score: 29/100 
Q2 2026 Contango Silver & Gold Inc Earnings Call Transcript
Aug 14, 2026 / 04:00PM GMT
Release Date Price:
$20.2
(+3.70%)
Key Points
Positve
- Contango Silver & Gold Inc (CTGO) is now fully unhedged, providing shareholders with direct exposure to rising gold prices.
- The company maintains its 2026 production guidance of 40,000-45,000 ounces, with a stronger second half expected as higher-grade South pit ore is processed.
- Cash flow is set to improve significantly, with projected JV distributions of about $36 million in the second half of 2026, potentially exceeding $60 million for the year at current gold prices.
- The acquisition of Lucky Shot's mineral claims and royalty reduces future costs and consolidates district control, supporting the feasibility study and 2027 production decision.
- Exploration drilling at Kitsault Valley is exceeding efficiency targets, with 5,000-10,000 additional meters expected within budget, and a new resource estimate is due this quarter.
- The company holds a strong balance sheet with $89 million in cash, sufficient to fund all three projects (Manh Choh, Lucky Shot, and Johnson Tract) over the next 12 months.
Negative
- First-half 2026 production was lower than expected due to mining lower-grade material from the North pit, leading to higher cash costs of $2,665/oz and AISC of $2,830/oz.
- Full-year cash cost guidance of $1,900-$2,000/oz implies a significant cost reduction in the second half, which may be challenging to achieve if grade improvements underperform.
- The company's cash balance is expected to decline to around $45 million by year-end and dip further in Q1 2027, indicating near-term liquidity pressure.
- The feasibility study for Lucky Shot is not expected until 2027, leaving uncertainty about the project's timeline and potential delays.
- Johnson Tract is still in the permitting phase, with construction and development progressing slowly, and it remains a longer-term project with no near-term production contribution.
- The company's reliance on gold price strength is a risk; if gold prices fall below $4,000, margins could compress, despite the $3,100 put floor.
Bianca Pisciola
6ix - Moderator
Good morning, good afternoon, or good evening, depending on where in the world you're login from today. I lucky enough to have with me today Rick Van Nieuwenhuyse, CEO of Contango Silver & Gold; and Mike Clark, the company's CFO, to discuss their recently released Q2 financials.
Gentlemen, how are you doing today?
Rick Nieuwenhuyse
Contango Silver & Gold Inc - Chief Executive Officer, Director
Good morning, Bianca. Good to see you again.
Michael Clark
Contango Silver & Gold Inc - Chief Financial Officer
Good morning.
Rick Nieuwenhuyse
Contango Silver & Gold Inc - Chief Executive Officer, Director
And you, too, Mike.
Bianca Pisciola
6ix - Moderator
Always good to see you both. For folks in the room, this is an interactive event. So you can use the chat button at the bottom at any point of today's event to get -- to submit your questions. We will try to get to your
Already have an account? Log in
Get the full story
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
7-Day Free Trial · Cancel Anytime
Subscription fee may be tax deductible.
Excellent 
4.6 out of 5 
Trustpilot
Trustpilot
Survey
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
Follow Us
Disclaimers