Q1 2025 Contango ORE Inc Earnings Call Transcript

May 15, 2025 / 05:00 PM GMT

Transcript 8-K10-Q

Key Points

Positve

Contango Ore Inc (CTGO) recorded $19 million in income from operations, including $22.3 million in equity income from the Peak Gold JV.
The company sold over 17,000 ounces of gold with an additional 3,800 ounces in recoverable inventory.
Contango Ore Inc (CTGO) completed the quarter with $35 million in cash and increased marketable securities to about $4 million.
The company made significant principal repayments, reducing the facility balance to $30 million.
Contango Ore Inc (CTGO) has started delivering into July hedges, with about 2,800 ounces delivered so far.

Negative

Contango Ore Inc (CTGO) recorded a net loss of $22.5 million for the quarter, primarily due to an unrealized loss of $40.5 million related to hedge contracts.
The company's cash costs were $1,334 per ounce of gold sold, with an all-in sustaining cost (AISC) of $1,374 per ounce.
The AISC is expected to increase in later quarters due to sustaining capital expenditures and a $5.7 million exploration drill program.
The hedge liability increased due to rising gold prices, although the company has implemented a carry trade to manage this.
The company is still facing weight restrictions on a bridge, affecting transportation logistics.

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

CTGO.A - Contango ORE Inc
Q1 2025 Contango ORE Inc Earnings Call
May 15, 2025 / 05:00PM GMT

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Presentation
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Unidentified_1 [1]
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Hey, good morning, good afternoon, good evening. Depending on where in the world you're signing in from, thank you all for joining me today. Today I've got with me Conteno or CFO Mike Clark and CEO Rick Van Nuyenhuiser to go over Conteno's Q and Financials. Mike got top billing because today is about financials, so he'll be the star of today's show. Today today is going to go is he's going to give a brief presentation summarizing yesterday's release. Then I've got a few questions, but this is absolutely an interactive event, so please do use the chat button in the bottom right hand of your screen to ask questions, for the contango executives at any time during today's event. We'll TRY to get to all of them. I imagine we will actually during

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