Q4 2024 Contango ORE Inc Earnings Call Transcript

Mar 17, 2025 / 08:30 PM GMT

Transcript 8-K10-K

Key Points

Positve

Contango Ore Inc (CTGO) exceeded its production guidance by over 25% in 2024, producing nearly 42,000 ounces of gold.
The company successfully reduced its debt from $60 million at the start of 2024 to approximately $38 million as of the earnings call.
Contango Ore Inc (CTGO) plans to be debt-free and hedge-free by mid-2027, with significant debt repayments scheduled for 2025 and 2026.
The company has a strategic plan to focus on permitting and infrastructure development for its Johnson Tract project, which aligns with its direct shipping ore model.
Contango Ore Inc (CTGO) reported positive operating cash flow for 2024, with plans to use excess cash to pay down debt and deliver hedges.

Negative

The company's cash costs slightly exceeded guidance, coming in at $1,209 per ounce for 2024.
Contango Ore Inc (CTGO) experienced a $20 million realized loss on derivative contracts in 2024.
The company has a significant hedge book, with 86,000 ounces of gold hedged as of the end of 2024, which could limit upside potential from rising gold prices.
Exploration results from the 2024 Manhou exploration program were not significant, indicating limited immediate expansion potential.
The timeline for the preliminary economic assessment (PEA) for the Johnson Tract project has been delayed, with completion now expected in April.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

CTGO.A - Contango ORE Inc
Q4 2024 Contango ORE Inc Earnings Call
Mar 17, 2025 / 08:30PM GMT

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Presentation
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Unidentified_1 [1]
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Today I saw some early rising Australians on the list, so thank you very much for joining us. Appreciate particularly everybody joining us on St. Patrick's Day for a corporate update and Q&A session from Kang or related to this morning's press release regarding 2024 earnings. I'm joined today by the company's President and CEO Rick van Neenheiser and CFO Mike Clark. Gentlemen, thank you for joining me.

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Unidentified_2 [2]
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Good to see you again.

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Unidentified_1 [3]

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