Contango ORE, Inc. (OTC:CTGO) recently completed a transaction that repositions the Company as a well-capitalized US gold developer with a clear path to producing on average 65,000 GEO/year at AISC of $750/GEO.
With less than 6 million shares issued and $35 million cash on hand, the Company can easily meet its obligations to fund through to production without dilution. Think about the free cash flow per share at current gold prices! How can we do this? The Company recently formed a new partnership with Kinross Gold Corporation - The Peak Gold JV (Kinross 70% and Contango 30% with Kinross as Manager and Operator). Ore from the Peak Gold JV will be processed at Kinross' existing Fort Knox mining and milling complex.
The use of the Fort Knox mill is expected to accelerate the development of Peak Gold and result in significantly reduced upfront capital development costs, smaller environmental footprint, a shorter permitting and development timeline and less overall risk for the project. Kinross anticipates production of 1 million ounces of gold equivalent from the Peak Gold deposit over a 4.5 year mine life based on current resources beginning in 2024 and estimated all-in sustaining costs (AISC) of $750/oz Au Eq., and total capital costs of $110 million. There is significant upside exploration on the 675,000 acre land package located in the heart of the Tintina Gold Belt.
Company Details
- Employees
- 7
- Industry
- Mining
- NAICS
-
Mining (except Oil and Gas)
- Website
- http://www.contangoore.com/
Contango Ore Questions
Contango Ore's website is http://www.contangoore.com/
Contango Ore's LinkedIn profile is https://www.linkedin.com/company/contango-ore
Contango Ore has
7 employees.
View email and phone details for 7
employees at Contango Ore.
Contango Ore's industry is
Mining
Contango Ore's top competitors are
Ak Metal Mines,
Commander Resources Ltd.,
Novagold,
Highgold Mining Inc.,
Prime Mining,
Constantine,
Trilogy Metals Inc.,
Faraday Copper Corp.,
Kinross Gold Corporation,
Kinross Alaska.
Contango Ore's categories are Mining
