Contango ORE Files Q1 2025 10-Q

Ticker: CTGO · Form: 10-Q · Filed: 2025-05-14T00:00:00.000Z

Sentiment: neutral

Topics: 10-Q, mining, financials, joint-venture

TL;DR

**Contango ORE Q1 2025 10-Q filed. Updates on Lucky Shot JV & financials.**

AI Summary

Contango ORE, Inc. filed its 10-Q for the period ending March 31, 2025. The company, focused on gold and silver ores, reported on its operations, including its joint venture with Lucky Shot. The filing details financial activities and business developments during the first quarter of 2025.

Why It Matters

This filing provides investors with an update on Contango ORE's financial health and operational progress in the precious metals sector for the first quarter of 2025.

Risk Assessment

Risk Level: medium — As a mining company, Contango ORE is subject to inherent risks related to commodity prices, exploration, and operational challenges.

Key Numbers

2025-03-31 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
2025-01-01 — Reporting Period Start Date (Indicates the beginning of the fiscal quarter for which financial information is reported.)

Key Players & Entities

Contango ORE, Inc. (company) — Filer of the 10-Q
2025-03-31 (date) — End of the reporting period
Lucky Shot (company) — Joint Venture Company
Avidian Gold Corp (company) — Mentioned in relation to a past event (2024-08-06)

FAQ

What is the primary business of Contango ORE, Inc.?

Contango ORE, Inc. is primarily involved in the gold and silver ores industry, as indicated by its SIC code [1040].

What is the reporting period for this 10-Q filing?

The Conformed Period of Report is March 31, 2025.

Which joint venture is specifically mentioned in the filing?

The filing mentions 'JointVentureCompanyMember' and specifically 'LuckyShot' as an operating segment.

When was the company incorporated?

The State of Incorporation is DE (Delaware).

What is the company's business address?

The business address is 3700 BUFFALO SPEEDWAY, STE 925, HOUSTON, TX 77098.

From the Filing

0000950170-25-071503.txt : 20250514 0000950170-25-071503.hdr.sgml : 20250514 20250514163050 ACCESSION NUMBER: 0000950170-25-071503 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 77 CONFORMED PERIOD OF REPORT: 20250331 FILED AS OF DATE: 20250514 DATE AS OF CHANGE: 20250514 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Contango ORE, Inc. CENTRAL INDEX KEY: 0001502377 STANDARD INDUSTRIAL CLASSIFICATION: GOLD & SILVER ORES [1040] ORGANIZATION NAME: 01 Energy & Transportation EIN: 273431051 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-35770 FILM NUMBER: 25946286 BUSINESS ADDRESS: STREET 1: 3700 BUFFALO SPEEDWAY STREET 2: STE 925 CITY: HOUSTON STATE: TX ZIP: 77098 BUSINESS PHONE: 713-877-1311 MAIL ADDRESS: STREET 1: 3700 BUFFALO SPEEDWAY STREET 2: STE 925 CITY: HOUSTON STATE: TX ZIP: 77098 10-Q 1 ctgo-20250331.htm 10-Q 10-Q Q1 --12-31 false 0001502377 http://fasb.org/srt/2024#ChiefExecutiveOfficerMember http://fasb.org/srt/2024#PresidentMember 0001502377 ctgo:KGMiningMember ctgo:TheJointVentureCompanyMember 2025-03-31 0001502377 ctgo:The2010PlanMember 2025-03-31 0001502377 2025-05-14 0001502377 us-gaap:OperatingSegmentsMember ctgo:JointVentureCompanyMember ctgo:LuckyShotMember 2025-01-01 2025-03-31 0001502377 us-gaap:CommonStockMember ctgo:The2023PlanMember 2023-11-14 2023-11-14 0001502377 ctgo:AvidianGoldCorp1Member 2024-08-06 2024-08-06 0001502377 us-gaap:FairValueInputsLevel2Member ctgo:UnderwrittenPublicOfferingMember us-gaap:MeasurementInputExpectedTermMember 2024-06-10 0001502377 us-gaap:OperatingSegmentsMember ctgo:JointVentureCompanyMember 2024-12-31 0001502377 us-gaap:MachineryAndEquipmentMember srt:MinimumMember 2025-03-31 0001502377 us-gaap:MachineryAndEquipmentMember 2024-12-31 0001502377 us-gaap:RetainedEarningsMember 2024-01-01 2024-03-31 0001502377 us-gaap:NondesignatedMember ctgo:CommodityContract2027Member 2025-01-01 2025-03-31 0001502377 us-gaap:TreasuryStockCommonMember 2024-12-31 0001502377 ctgo:ChiefFinancingOfficerAndSecretaryMember 2025-01-01 2025-03-31 0001502377 ctgo:TetlinLeaseAndCertainOtherPropertiesMember ctgo:TheJointVentureCompanyMember ctgo:RoyalGoldMember 2025-03-31 0001502377 ctgo:TrancheTwoMember ctgo:AvidianGoldCorpMember 2024-08-06 2024-08-06 0001502377 srt:MaximumMember us-gaap:BuildingAndBuildingImprovementsMember 2025-03-31 0001502377 ctgo:TheJointVentureCompanyMember ctgo:AdditionalPropertiesMember ctgo:RoyalGoldMember 2025-03-31 0001502377 us-gaap:OperatingSegmentsMember ctgo:JointVentureCompanyMember 2025-01-01 2025-03-31 0001502377 us-gaap:BuildingAndBuildingImprovementsMember 2025-03-31 0001502377 ctgo:TheJointVentureCompanyMember 2024-09-30 0001502377 ctgo:TheJointVentureCompanyMember 2024-07-01 2024-07-31 0001502377 ctgo:CreditAgreementMember ctgo:TermLoanFacilityMember 2025-01-01 2025-03-31 0001502377 ctgo:JtMiningIncMember 2025-03-31 0001502377 ctgo:SeniorSecuredLoanFacilityMember 2022-04-26 0001502377 ctgo:UnsecuredConvertibleDebentureMember 2025-01-01 2025-03-31 0001502377 us-gaap:MeasurementInputExpectedDividendRateMember us-gaap:FairValueInputsLevel2Member ctgo:UnderwrittenPublicOfferingMember 2024-06-10 0001502377 us-gaap:NondesignatedMember us-gaap:CommodityContractMember ctgo:DerivativeContractLiabilityCurrentMember 2024-12-31 0001502377 srt:ScenarioForecastMember ctgo:CarryTradeMember 2025-04-30 2025-04-30 0001502377 ctgo:SalesAgreementMember 2025-01-01 2025-03-31 0001502377 us-gaap:AdditionalPaidInCapitalMember 2025-01-01 2025-03-31 0001502377 ctgo:SalesAgreementMember us-gaap:CommonStockMember 2025-01-01 2025-03-31 0001502377 ctgo:UnsecuredConvertibleDebentureMember 2022-04-26 0001502377 us-gaap:CommonStockMember ctgo:HighgoldAcquisitionMember 2024-07-10 0001502377 us-gaap:CorporateNonSegmentMember 2025-01-01 2025-03-31 0001502377 ctgo:CommodityContract2025Member us-gaap:NondesignatedMember 2025-01-01 2025-03-31 0001502377 ctgo:CreditAgreementMember ctgo:SofrAdjustmentMember 2023-05-17 2023-05-1