NIA’s President Loves Contango ORE (CTGO)

NIA’s President added 1,000 shares of Contango ORE (NYSE American: CTGO) last week, doubling his position ahead of today’s major presentation at the 2025 Precious Metals Summit in Zurich.

CTGO told investors today:

“We have 15.5 million shares outstanding, $100 million in the bank, and we’re generating over $100 million of free cash flow per year.”

The company expects that as its Lucky Shot and Johnson Tract mines come online, free cash flow will rise to $15 per share annually. This is an extraordinary projection compared to CTGO’s current share price of $22.44 per share.

Fully Funded Growth Without Dilution

CTGO’s near-term focus is bringing its fully permitted Lucky Shot Mine into production with an initial CAPEX of only $50 million, which it is fully funded for today.

• Lucky Shot will increase CTGO’s annual attributable gold production from 60,000 oz to 100,000 oz for a 66.7% increase.

• Once Johnson Tract begins production, annual output will double to 200,000 oz without shareholder dilution.

Lucky Shot: Drilling Underway This Winter

CTGO announced in Zurich:

“The drill actually arrives this week.”

This winter, CTGO will complete 15,000 meters of underground drilling from existing workings, expected to define 400,000–500,000 ounces at 10–12 g/t gold.

The company emphasized Lucky Shot’s rich history:

“When this mine was shut down, President Roosevelt used the War Act to close all U.S. gold mines, not because it ran out of ore. We’re simply drilling down-dip from where they mined a quarter million ounces before.”

CTGO added:

“We’re fully permitted as a mining operation. The underground infrastructure is already in place.”

CTGO also revealed it is evaluating an offer to ship ore to Taiwan for processing, noting the railroad is only 15 miles away, allowing multiple transport options north or south.

Johnson Tract: Next Major Catalyst

Regarding Johnson Tract, CTGO described it as:

“A beautiful, high-grade polymetallic ore body — gold, silver, copper, lead, zinc — with gold and silver making up 70–75% of value.”

Located on Cook Inlet Native Corporation land, Johnson Tract benefits from federal easements for coastal access and a supportive permitting pathway thanks to its critical metals component.

CTGO said:

“We expect to have our permits in hand by Q1 2026. Next summer, we’ll build the 3-mile road to the portal site, winterize camp, and start the tunnel.”

With an average grade of 9 g/t gold equivalent, CTGO plans to ship ore to an existing mill rather than build its own thereby continuing its Direct Shipping Ore (DSO) model that eliminates the need for costly mills and tailings facilities.

Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. NIA has received compensation from CTGO of US$80,000 cash for ten months of coverage. NIA’s President has purchased 2,000 shares of CTGO in the open market and intends to buy more shares. This message is for informational and educational purposes only and does not provide investment advice.