Contango ORE (CTGO) has shared an update.
Contango ORE, Inc. has made strategic moves to expand its mining operations by entering into agreements to acquire HighGold Mining Inc. and Avidian Gold Corp’s Alaskan subsidiary, aiming to strengthen its position in the industry. The deals involve exchanging HighGold shares for Contango stock, valuing HighGold at approximately $37 million, and purchasing Avidian Gold Alaska Inc. for $2.4 million with additional contingent payments. These acquisitions, expected to close in July 2024, signal Contango’s commitment to building Alaska’s next gold mines and diversify its portfolio, offering potential growth prospects for shareholders and investors.
Find detailed analytics on CTGO stock on TipRanks’ Stock Analysis page.
