secwatch.observer — SEC 8-K summary
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Issuer:     Contango Silver & Gold Inc. (CTGO)
CIK:        0001502377
Form:       8-K
Filed at:   2023-05-19T23:59:59+00:00
Accession:  0001157523-23-000892
Event type: debt
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Contango ORE closes up to $70M secured credit facility for Manh Choh gold project
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- Senior secured loan facility of up to $70M, with $65M committed term loan and $5M uncommitted liquidity buffer.
- Initial draw of $10M; interest at 3-month SOFR + 6% pre-completion, 5% post-completion, payable quarterly.
- Facility matures Dec 31, 2026; secured by all assets including 30% interest in Peak Gold LLC (Manh Choh).
- Requires hedging ~125,000 oz attributable gold production as condition for second borrowing.
- State of Alaska approved Mine Operating and Closure Plan on May 15, 2023; first gold expected H2 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1502377/000115752323000892/0001157523-23-000892-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1502377/000115752323000892/a53402845.htm
  HTML page:      https://secwatch.observer/filing/0001157523-23-000892

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