| Over a month ago | ||||
Virtual Meeting to be… Virtual Meeting to be held on February 3 hosted by Roth MKM. | ||||
Virtual Meeting to be… Virtual Meeting to be held on February 3 hosted by Roth MKM. | ||||
Contango Ore announced… Contango Ore announced the issuance and sale of an aggregate of 117,500 shares for $20.00 per share of the company's common stock, par value $0.01 per share, and warrants entitling each purchaser to purchase shares of common stock for $25.00 per share, in a private placement pursuant to Subscription Agreements, dated as of January 19, 2023 between the company and certain accredited investors. The Subscription Agreements include customary representations, warranties, and covenants by the Purchasers and the company. Net proceeds totaled approximately $2.3M. The company will use the net proceeds from the Private Placement to fund its exploration and development program and for general corporate purposes. Petrie Partners Securities acted as sole placement agent on a portion of the transaction. | ||||
| Over a quarter ago | ||||
Contango Ore announced… Contango Ore announced the issuance and sale of an aggregate of 283,500 shares for $20.00 per share of the company's common stock, par value $0.01 per share, and warrants entitling each purchaser to purchase shares of Common Stock for $25.00 per share, in a private placement pursuant to Subscription Agreements, dated as of December 23, 2022 between the company and certain accredited investors. The Subscription Agreements include customary representations, warranties, and covenants by the Purchasers and the company. Net proceeds totaled approximately $5.6M. The company will use the net proceeds from the Private Placement to fund its exploration and development program and for general corporate purposes. Petrie Partners Securities, LLC acted as sole placement agent on a portion of the transaction. | ||||
Roth Capital analyst Mike… Roth Capital analyst Mike Niehuser initiated coverage of Contango Ore (CTGO) with a Buy rating and $38 price target. Kinross Gold (KGC), who owns 70% of the Peak Gold joint venture with Contango, plans on processing ore from the Manh Choh gold project at its Fort Knox mill near Fairbanks, the analyst notes, adding that this reduces capital costs, development timelines and construction risk, and provides the joint venture a pathway to monetize the deposit. The Manh Choh mine is scheduled to commence production in the second half of 2024. | ||||
