Mon, Aug 30, 2021 at 2:00 PM
Eastern Time (US & Canada)
In this presentation, Contango ORE President and CEO, Rick Van Nieuwenhuyse will provide an update on activities at the Manh Choh Project as well as guidance from Kinross on capital and operation costs. Attendees will also get an introduction to the Company's new acquisition and plans for the Lucky Shot Project, an update on the Company's field exploration programs at Shamrock-Eagle-Hona Projects, and an update on the NYSE listing process.
Contango ORE Inc. recently completed the acquisition of the Lucky Shot Mine located in the Willow mining district of Alaska. Although things are full steam ahead on our 30% owned Manh Choh project, which is in the able hands of our 70% partner and Operator Kinross, Contango is very excited about the potential of the Lucky Shot acquisition to add significant additional value for Contango shareholders.
The presentation will provide you updated estimates of Capital and Operating costs for the Manh Choh project as well as our expected timeline to initiate construction – all of which were disclosed by Kinross in their latest quarterly report. Bottom line is that we remain on target for production in 2024 with our share of average annual production expected to be 66,000 GEO (gold equivalent ounces). With 6.7 million shares issued and approximately $32 million cash on hand, the Company is well positioned to meet its obligations to fund through to a production decision. The basic plan has not changed with ore from the Manh Choh mine site to be trucked to Kinross' existing Fort Knox mill - thereby reducing the timeline to production as well as lower the overall project execution risk.
The Lucky Shot project represents an exciting opportunity to add significant additional value for Contango shareholders and marks a new focus for the Company. The historic Willow Mining District consistently produced high-grade gold from free-milling, low angle quartz veins averaging between 30 and 60 g/t (1 to 2 opt) and measuring 1 to 5 meters thick (3 to 15 ft). The property is road accessible and has excellent infrastructure. Our plan is to re-establish access to drill the down-dip extension of the Lucky Shot and Coleman mines, which historically produced over 250,000 ounces of gold from ore grading 1.6 oz/tonne (40g/t).
The Company will also provide an update on its 100% owned exploration properties (Shamrock-Eagle-Hona) in the heart of the Tintina Gold belt as well as its listing plans for the NYSE American.
Anyone with the event link can attend
Dial-in available (listen only)
Dial-in Number: +1 (312) 248-9348
Dial-in Passcode: 3467
Rick Van NieuwenhuysePresident & CEORick has more than 40 years of experience in the natural resource sector. Before joining Contango Ore in January 2020, he was President and Chief Executive Officer of Trilogy Metals, who are currently developing the high- grade Upper Kobuk Mineral Projects located in the Ambler Mining District of Alaska. Trilogy is a company which was created in 2012 as a spin-out from NOVAGOLD, a well-known company he founded over 20 years ago. NOVAGOLD is currently finalizing permits for the 40 million ounce Donlin Gold Project in Southwest Alaska with partner Barrick Gold, the world’s largest gold company.
Previous to his role as Founder, President, and CEO of NOVAGOLD, he held the position of Vice President of Exploration for Placer Dome Inc. from 1990 to 1997. In addition to his international exploration perspective, Rick brings years of working experience in and knowledge of Alaska to Contango. Rick has managed projects from grassroots discovery through to advanced feasibility, production and closure. He has played a key role in setting up several other corporate entities including: Alexco - where he remains a Director - which is rejuvenating the Keno Hill Silver District in the Yukon; Tintina Resource (now Sandfire Resources America), which discovered and is now completing a feasibility study + permitting the high grade Black Butte copper project in Montana; and SolidusGold, where he is Chairman.
Rick holds a Candidature degree in Science from the Université de Louvain, Belgium, and a Master of Science degree in Geology from the University of Arizona. He received the Thayer Lindsley award in 2009 for his role in the Donlin Gold discovery and the Colin Spence Award in 2016 for his role in the Bornite Discovery.
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