Contango ORE, Inc. announced a cash distribution of $21 million from the Peak Gold Joint Venture on June 25, 2025, bringing the total year-to-date distributions to $54 million. This consistent cash flow supports the company's financial strategy.
The company plans to make an early payment of $7 million of principal against its credit facility in early July, which will reduce the outstanding balance to $23 million. Additionally, Contango has early delivered 11,900 ounces of gold into its July 31st hedge contracts using a carry trade, reducing the current hedge contract balance to 62,900 ounces.
Contango anticipates its remaining hedge obligations at the end of 2025 to be 43,000 ounces. Based on year-to-date results and projections, the company now expects total cash distributions for 2025 from the Peak Gold JV to exceed $95 million, assuming a $3,100 per ounce spot gold price for the remainder of the year.
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