Wed, May 14, 8:32 PM (37 days ago)
**Contango ORE, Inc. (CTGO) Q1 2025 Financial Summary** **Financial Health:** - **Cash Position:** $35.2 million as of March 31, 2025. - **Liabilities:** Total liabilities increased to $167.9 million, with current liabilities at $91.0 million. - **Stockholders' Equity:** Negative equity of $20.5 million. **Performance Metrics:** - **Revenue:** No direct revenue reported; income from Peak Gold JV's equity investment was $22.3 million. - **Profit Margins:** Net loss of $22.5 million, with a loss per share of $1.88. - **Cash Flow:** Positive cash flow from operations at $28.6 million. **Earnings Changes:** - **Income from Peak Gold JV:** Significant income of $22.3 million compared to a loss of $0.1 million in Q1 2024. - **Loss on Derivative Contracts:** Increased to $40.5 million from $15.6 million in Q1 2024. **Quarterly Performance:** - **Expenses:** Total expenses were $3.1 million, with exploration and administrative costs being significant. - **Metal Sales:** Gain of $1.2 million from excess ounces sold. **Trends:** - **Debt Management:** Principal repayments on the Facility totaled $13.8 million in January 2025. - **Cash Distributions:** Received $24.0 million from Peak Gold JV in Q1 2025. **Uncertainties:** - **Legal Proceedings:** Ongoing litigation related to ore haul plans and environmental reviews. - **Market Risks:** Dependence on gold prices and operational risks. **Future Operations:** - **Exploration:** Continued work on Johnson Tract and Lucky Shot properties. - **Financing:** Potential future equity or debt issuances to meet liquidity needs. **Impact:** - **Production:** Manh Choh Project's production continues, with positive cash distributions. - **Financial Strategy:** Focus on managing debt and exploring strategic partnerships for future growth.