Contango Ore announces $9.0M cash distribution from Peak Gold JV

Contango Ore (CTGO) announced that the Peak Gold JV paid a cash distribution of $9.0M to Contango on December 19. These proceeds relate to Contango’s 30% of profits from the processing Manh Choh ore from Campaign #3. In total, Contango has received $40.5M in cash distributions from the Peak Gold JV since commencing the processing of Manh Choh ore in July. Contango’s 30% share of production in 2024 totaled approximately 42,000 ounces of gold and 16,300 ounces of silver, which exceeded by approximately 30% original guidance of 30,000-35,000 ounces of gold production for 2024. The company’s share of the Manh Choh mine production in 2025 is expected to be 60,000 ounces of gold, with the company expected to receive an average of 58,750 ounces of gold per year through 2028 for Contango’s share of production with estimated life of mine all-in sustaining costs of approximately $1,400 per ounce of gold sold.