Contango ORE reports FY2024 net loss $38M; Manh Choh gold production beats guidance at 41,325 oz

Contango Silver & Gold Inc.

Net loss of $38.0M ($3.49/diluted share) includes $34.3M unrealized derivative loss; gold sales $94.3M.
Manh Choh gold production (30% share) 41,325 oz, beating 30k-35k guidance; cash cost $1,209/oz.
Average blended realized gold price $2,281/oz; cash distributions from Peak Gold JV $40.5M.
Debt reduced 36% to $38.3M (post-period); hedge contracts cut 30% to 86,739 oz as of Dec 31, 2024.
2025 guidance: 60,000 oz gold production; Johnson Tract PEA expected in coming weeks.

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