Contango ORE Receives $19.5M Cash Distribution from Peak Gold JV, More Expected in 2024, Projects 30K-40,K Ounces of Gold Production for 2024
Benzinga Newsdesk 2 years ago
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Contango ORE, Inc. ("Contango" or the "Company") (NYSE:CTGO) is pleased to announce that the Peak Gold JV paid a cash distribution of $19.5 million. These proceeds relate to
Contango ORE, Inc. ("Contango" or the "Company") (NYSE:CTGO) is pleased to announce that the Peak Gold JV paid a cash distribution of $19.5 million. These proceeds relate to Contango's 30% of profits from the processing Manh Choh ore from Campaign #1. The Peak Gold JV is planning two further campaigns in 2024, the second currently underway, with at least one more cash distribution expected to occur before the end of the year. Contango estimates its share of gold production from the Peak Gold JV for 2024 to be between 30,000 and 40,000 ounces of gold.