Contango Q2 net loss widens to $18.5M on derivative losses; first gold pour at Manh Choh in July

Contango Silver & Gold Inc.

2024-Q2 EPS reported -$4.03

Net loss of $18.5M ($1.90/sh) vs $10.4M ($1.38/sh) in Q2 2023; includes $12.6M non-cash loss on derivatives.
Interest costs rose to $2.9M from $0.6M due to credit facility draws.
Gold hedging in place: 124,600 oz at $2,025/oz through Dec 2026, covering ~65% of expected production.
Manh Choh project poured first gold bar on July 8, 2024; ore transportation ramping to planned volumes.
Completed acquisition of HighGold Mining on July 10, issuing ~1.7M shares valued at $33.4M.

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