Contango Silver & Gold Inc. CTGO
Contango ORE, Inc. ("CORE" or the "Company") was formed on September 1, 2010 as a Delaware corporation for the purpose of engaging in the exploration for and development of gold ore and associated minerals in the State of Alaska. On January 8, 2015, CORE Alaska, LLC, a wholly-owned subsidiary of the Company ("CORE Alaska"), and a subsidiary of Royal Gold, Inc. ("Royal Gold") formed Peak Gold, LLC (the "Peak Gold JV"). On September 30, 2020, CORE Alaska sold a 30% membership interest in the Peak Gold JV to KG Mining (Alaska), Inc. ("KG Mining"), an indirect wholly-owned subsidiary of Kinross Gold Corporation ("Kinross"), a large gold producer with a diverse global portfolio and extensive operating experience in Alaska. The sale is referred to herein as the "CORE Transactions".
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| SG&A | $13.1M | $10.6M | $9.1M | $10.3M | $10.4M | $5.6M | $4.4M | $3.8M | $2.8M | $1.2M |
| Total operating expenses | $19.5M | $15.4M | $17.7M | $19.6M | $10.7M | $5.6M | $4.4M | $3.8M | $2.8M | $1.2M |
| Operating income | $69.1M | $26.3M | -$38.8M | — | — | — | — | — | — | — |
| Interest expense | $7.6M | $11.7M | $2.0M | $330.0K | $0 | — | — | — | — | — |
| Pre-tax income | -$35.8M | -$38.1M | -$39.7M | -$23.6M | $25.2M | -$9.2M | -$8.4M | -$6.2M | -$2.8M | -$1.2M |
| Income tax | $303.2K | $83.4K | $0 | $119.7K | $1.3M | $0 | $0 | $0 | $0 | $0 |
| Net income | -$36.1M | -$38.0M | -$39.7M | -$23.5M | $23.9M | -$9.2M | -$8.4M | -$6.2M | -$2.8M | -$1.2M |
| EPS, basic | -2.80 | -3.49 | -5.61 | -3.49 | 3.82 | -1.43 | 1.33 | 1.09 | — | — |
| EPS, diluted | -2.80 | -3.49 | -5.61 | -3.49 | 3.82 | -1.43 | -1.33 | -1.09 | -0.62 | -0.31 |
| Shares, diluted (wtd. avg.) | $12.9M | $10.9M | $7.1M | $6.7M | $6.3M | $6.5M | $6.3M | $5.7M | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $64.8M | $20.1M | $15.5M | $23.1M | $35.2M | $3.0M | $8.6M | $13.8M | $5.2M | $1.3M |
| Total current assets | $68.3M | $22.1M | $16.9M | $23.8M | $35.9M | $3.1M | $8.8M | $14.0M | $5.4M | $1.3M |
| Property, plant and equipment | $52.1M | $50.6M | $13.3M | $13.5M | $36.5K | — | — | — | — | — |
| Total assets | $172.0M | $133.9M | $25.7M | $37.3M | $36.0M | $3.1M | $8.8M | $14.0M | $5.4M | $1.3M |
| Accounts payable | $1.0M | $418.8K | $250.7K | $633.9K | $26.3K | $83.2K | $71.4K | $11.2K | $50.9K | $20.9K |
| Short-term debt | $4.0M | $42.6M | $7.9M | $0 | — | — | — | — | — | — |
| Total current liabilities | $76.3M | $75.8M | $13.1M | $1.5M | $222.1K | $1.1M | $419.3K | $256.4K | $137.4K | $113.7K |
| Long-term debt | $29.9M | $26.4M | $36.8M | $19.2M | $0 | $0 | $0 | — | — | — |
| Total liabilities | $146.9M | $132.6M | $30.4M | $24.0M | $1.4M | $1.1M | — | — | — | — |
| Retained earnings | -$213.2M | -$177.1M | -$139.0M | -$58.5M | -$35.0M | -$58.9M | -$49.7M | -$41.3M | -$35.1M | -$32.3M |
| Total equity | $25.1M | $1.3M | -$14.5M | $13.3M | $34.5M | $2.0M | $83.4M | $13.7M | $5.2M | $1.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $25.7M | $699.0K | -$14.7M | -$13.9M | -$8.4M | -$1.4M | -$1.1M | -$1.0M | -$1.1M | -$692.6K |
| Depreciation and amortisation | $140.7K | $121.9K | $136.5K | $55.7K | $0 | — | — | — | — | — |
| Stock-based compensation | $3.4M | $2.6M | $2.9M | $4.0M | $3.9M | $3.4M | $3.0M | $2.5M | $1.8M | $507.7K |
| Capital expenditure | — | — | $0 | $44.0K | $36.5K | — | — | — | — | — |
| Investing cash flow | $513.2K | -$32.1M | -$21.1M | -$15.4M | $27.4M | -$3.7M | -$4.1M | -$2.6M | — | — |
| Financing cash flow | $18.4M | $36.0M | $24.4M | $17.4M | $13.2M | -$476.7K | — | $12.2M | $5.1M | — |
| Buybacks | — | — | — | — | — | $476.7K | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-197816.
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