Contango ORE is a New York Stock Exchange-American company. Contango is on the brink of becoming a strong cash flow generating company. Our Manh Choh project (70/30 JV with Kinross as operator) is fully permitted, fully funded and construction is on budget and ahead of schedule to achieve production in 2024. The large mining equipment has arrived on site with actual mining and stockpiling already started. A ground breaking ceremony took place on August 29th. With $1116 AISC and today’s gold price we should generate over $50 million of annual in free cash flow and with less than 10 million shares o/s Contango a top pick! Better yet, what we have done with our Manh Choh discovery (develop it without permitting, capitalizing, and building a mill and tailings facility) we will do again with our Lucky Shot project where we recently released a small but very high-grade resource averaging ½ per ton. Lucky Shot is a mesothermal vein system with excellent exploration upside which we have already demonstrated!
We are currently drilling from underground and ready to expand and grow the resource base. Because of the demonstrated high-grade we do not need to find a multi-million ounce deposit to get started. We are fully permitted for mining. So, we can simply mine and put run-of-mine ½ opt ore in a box and haul it to the Fort Knox mill for processing, once again without having to permit or build a mill and tailings facility. Since we are only 20 miles to the rail head, our transportation costs will be half that of Manh Choh (similar distance but rail is a lot cheaper than trucking) – low capital and no significant permitting results in a quick path to production adding to our Manh Choh cash flows.
Our recent inclusion in the Russel 3000 Index demonstrates our ability to achieve new milestones and has brought a lot more eyes to the story. Because of our low capital risk, low permitting risk and short timeline to production, we trade more like a royalty company than your typical Canadian junior want-to-be producer. That’s unique in the junior developer space. I would be happy to meet with you at the GCFF Conference and walk you through our story and plans to continue to build shareholder value.
Rick Van Nieuwenhuyse
President, CEO & Director
Mr. Van Nieuwenhuyse was appointed to serve as President, Chief Executive Officer, and director of the Company effective January 6, 2020. He previously served as President and Chief Executive Officer of Trilogy Metals Inc. from January 2012 until December 2019. Between May 1999 and January of 2012, he served as the President and Chief Executive Officer of NovaGold, Inc, a company that he founded. He served as the Vice President of Exploration for Placer Dome from 1990 to 1997. Mr. Van Nieuwenhuyse holds a Candidature degree in Science from Université de Louvain, Belgium and a Master of Science degree in Geology from the University of Arizona. Mr. Van Nieuwenhuyse currently serves on the board of directors of American Copper Development Company and Valhalla Metals. He served on the board of directors of Sandfire Resources America, Inc. (formerly, Tintina Resources Inc.) from 2008 until 2016. Mr. Van Nieuwenhuyse has over forty years of experience in the minerals mining industry and brings significant industry and technical knowledge to the Company.