Contango Ore posts Q1 net loss of $20.5M, plans $37M stock acquisition of HighGold

Contango Silver & Gold Inc.

Net loss of $20.5M ($2.14 loss per share) in Q1 2024 vs $7.9M loss ($1.09 loss per share) in Q1 2023.
Q1 loss includes $15.6M non-cash charge from mark-to-market gold derivative contracts.
Manh Choh project (30% owned) on track for first production in early Q3 2024; mining and ore transport ramping up.
Entered arrangement to acquire HighGold Mining for ~$37M in stock (0.019 CTGO shares per HighGold share), closing expected July 2024.
Invested additional $15.5M in Peak Gold JV for Manh Choh construction expenditures.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Contango Silver & Gold Inc. reported the three month period ended March 31, 2024 results: net income a net loss of $20.5 million or a loss of $2.14 per basic and diluted share, EPS $2.14 per basic and diluted share.

Period: the three month period ended March 31, 2024
Net income: a net loss of $20.5 million or a loss of $2.14 per basic and diluted share
EPS: $2.14 per basic and diluted share
Result: reported results

Exact text from the filing

The Company reported a net loss of $20.5 million or a loss of $2.14 per basic and diluted share for the three month period ended March 31, 2024

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Contango Silver & Gold Inc. filing history →

Source: SEC EDGAR

accession 0000950170-24-059733

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