Contango (CTGO) Reports Strong Gold Production Results in Q2 2025

Contango Ore, Inc. (NYSEAMERICAN:CTGO) is one of the 13 Most Promising Gold Stocks According to Wall Street Analysts. On July 30, Contango Ore, Inc. (NYSEAMERICAN:CTGO) reported production results at the Peak Gold JV for the second quarter of 2025. The company holds a 30% interest in the Peak Gold JV. The remaining 70% is held by KG Mining (Alaska), Inc., which also fully operates the mine.

Contango Ore, Inc.’s (NYSEAMERICAN:CTGO) 30% share of the Peak Gold JV continued to exceed quarterly guidance with production of 17,764 ounces of gold. The cash costs were $1,416 per ounce of gold while the all-in-sustaining costs (AISC) were $1,548 per ounce, below the company’s target of $1,625 per ounce for 2025.

Aerial view of a gold mine in the mountains, trees reflecting the light from the sun.

According to the report, Contango Ore, Inc. (NYSEAMERICAN:CTGO) expects its 30% share of the Peak Gold JV’s 2025 production to reach 60,000 ounces of gold. Over the life-of-mine, the average annual production is forecasted to be about 58,750 ounces per year through 2029. The AISC for the life of the mine is estimated at $1,400 per ounce.

In the first half of the year, Contango Ore, Inc. (NYSEAMERICAN:CTGO) received $54 million in cash distributions from the Peak Gold JV. The company expects total cash distributions for 2025 to be over $95 million. This estimate is based on a gold price of $3,100 per ounce for the rest of the year.

Contango Ore, Inc. (NYSEAMERICAN:CTGO) is an American company focused on exploration for gold and related minerals in Alaska.

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Disclosure: None. This article is originally published at Insider Monkey.