secwatch.observer — SEC 8-K summary
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Issuer:     Contango Silver & Gold Inc. (CTGO)
CIK:        0001502377
Form:       8-K
Filed at:   2024-05-14T23:59:59+00:00
Accession:  0000950170-24-059733
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1502377/000095017024059733/0000950170-24-059733-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1502377/000095017024059733/ctgo-20240514.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-059733

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer