Each one in plain English, with the numbers worked through for a shareholder.
8 July 2026debt financing▲ GoodMajor
Contango Silver & Gold unwound its remaining Manh Choh gold hedges by converting them into about $33 million of additional term debt at a lower interest margin, buying gold puts instead for downside protection -- freeing up more of its production to benefit from higher gold prices.
Contango Silver & Gold settled its remaining earn-out obligation to CRH Funding from the 2021 Lucky Shot purchase for $5 million cash plus 100,000 shares, and separately received its first cash distribution from the Peak Gold joint venture now that Manh Choh is producing.
Contango Silver & Gold dismissed Baker Tilly and hired BDO Canada as its new independent auditor, aligning its audit firm with its newly combined, more Canadian-facing shareholder base after the Dolly Varden merger.
Contango Silver & Gold bought outright ownership of the underlying land and mining claims at its Lucky Shot project for about $16.1 million (cash plus a seller note), eliminating the 2% royalty it previously owed under the site's lease.
Contango ORE completed its merger of equals with Dolly Varden Silver and renamed itself "Contango Silver & Gold Inc.": former Dolly Varden holders now own about 50% of the combined company, Dolly Varden's Shawn Khunkhun becomes President while Rick Van Nieuwenhuyse stays CEO, Clynton Nauman becomes Chairman (Brad Juneau stepping down from that role but remaining a director), and the company adds Dolly Varden's Kitsault Valley silver project to its Alaska gold portfolio.
Contango ORE raised about $47.2 million in a stock and pre-funded-warrant offering, earmarking most of it to buy back its Manh Choh gold hedge contracts and buy downside-protection puts instead -- unwinding the fixed-price hedges just as gold prices were rising.
Contango ORE agreed to a merger-of-equals with Dolly Varden Silver, a Canadian silver explorer: Dolly Varden shareholders will get about 50% of the combined company, which will be renamed "Contango Silver & Gold Inc." and add Dolly Varden's Kitsault Valley silver project in British Columbia to Contango's Alaska gold assets.
Contango ORE raised about $47.5 million in a stock and pre-funded-warrant offering to advance its Lucky Shot and (HighGold-acquired) Johnson Tract projects toward production decisions -- its largest capital raise yet outside the Manh Choh joint venture.
Contango ORE's auditor Moss Adams merged into Baker Tilly, which took over as the company's independent accounting firm with no disagreements over prior filings.
10 July 2024asset acquisition disposition▲ GoodMajor
Contango ORE completed its acquisition of HighGold Mining, adding the Johnson Tract project and a new board seat for HighGold's former CEO -- closing just two days after the Manh Choh mine poured its first gold.
Contango ORE announced the first gold pour at the Manh Choh mine, the milestone marking the start of actual production after years of exploration and construction.
Contango ORE agreed to buy Canadian explorer HighGold Mining in an all-stock deal (about $37 million, existing Contango holders keeping ~85%), adding HighGold's Johnson Tract project in Alaska, and separately agreed to buy Avidian Gold's Alaska subsidiary (Golden Zone and Amanita properties) for up to $3.4 million -- the start of Contango diversifying beyond its Peak Gold joint venture.
Contango ORE locked in gold hedges with ING and Macquarie for 124,600 ounces at $2,025/oz, covering about 45% of its expected Manh Choh production through 2026, as required under its project-finance facility.
Contango ORE raised about $28-32 million in a public stock offering at $19.00/share, adding cash to fund its share of the Manh Choh build and its newer Lucky Shot project.
Contango ORE published the first formal resource estimate for its newly acquired Lucky Shot project, an early step toward proving it up as a second mine alongside Manh Choh.
Contango ORE set up a $40 million at-the-market common stock sales program with Cantor Fitzgerald, a standing option to raise equity gradually as it funds its share of the Manh Choh build.
Published the S-K 1300 technical report summary for Manh Choh, setting out the feasibility study and subsequent economic update prepared by joint-venture partner KG Mining (Alaska), a Kinross Gold subsidiary. The same filing noted Contango would join the Russell 3000 and Russell Microcap indexes from 26 June.
Contango ORE lined up a $70 million project-finance facility from ING and Macquarie to fund its 30% share of building the Manh Choh mine, drawing $10 million at closing with more available as construction milestones are met.
Kinross's board approved development of the Peak Gold joint venture's project -- now named Manh Choh -- after a positive feasibility study, the milestone that turns Contango's 30% stake from an exploration bet into a funded mine under construction.
Contango agreed to issue a $20 million unsecured convertible debenture to Queen's Road Capital Investment at 8% interest, convertible at $30.50/share -- new mezzanine financing ahead of the larger ING/Macquarie project debt facility it would arrange the following year to fund Manh Choh construction.
25 Aug 2021asset acquisition disposition▲ GoodMajor
Contango ORE bought the Lucky Shot gold project in Alaska from CRH Funding for $5 million cash plus a $6.25 million note, its first material asset outside the Peak Gold joint venture, with further payments due if the project hits production milestones.