Announces Results of the 2022 Virtual Annual Meeting of Stockholders and Results for the Quarter Ended September 30, 2022
11 Novembre 2022 - 1:58AM
Business Wire
Contango ORE, Inc. (“CORE” or the “Company”) (NYSE American:
CTGO) announced today that the Company held its annual meeting of
stockholders on November 10, 2022 and the following directors were
elected to serve until the 2023 annual meeting of stockholders:
Brad Juneau Rick Van Nieuwenhuyse Joseph S. Compofelice Curtis
J. Freeman Richard A. Shortz
The following proposals were also approved by the
stockholders:
1)
The approval of the Second Amendment to
the Amended and Restated 2010 Equity Compensation Plan;
2)
The ratification of the appointment of
Moss Adams LLP as the independent auditors of the Company for the
fiscal year ending June 30, 2023;
3)
The approval, on a non-binding advisory
basis, of the compensation of the Company’s named executive
officers;
4)
The grant of discretionary authority to
the Chairman of the Annual Meeting to adjourn the Annual Meeting,
if necessary to solicit additional proxies.
The Company also announced that it filed its Form 10-Q for the
quarter ended September 30, 2022 with the Securities and Exchange
Commission on November 10, 2022.
The Company reported a net loss of $7.1 million or ($1.05) per
basic and diluted share for the three months ended September 30,
2022, compared to a net loss of $4.6 million or ($0.68) per basic
and diluted share for the same period last year. The increase in
net loss is due to the increased exploration efforts at the
Company’s Lucky Shot project as compared to the prior year.
Rick Van Nieuwenhuyse, the Company’s President and CEO
commented, “Since receipt of our 404 `Wet Lands' permit this
summer, Kinross has been busy advancing road and camp construction
at the Manh Choh project. Construction activities will slow down
during the winter months and pick back up in the spring time.
Meanwhile, we have been very busy at our 100% owned Lucky Shot
project where we have so far completed 23 drill holes. I am pleased
to report that all of the drill holes have intersected the Lucky
Shot vein with our geologists logging and sampling the holes. As
everyone in the industry is experiencing, assaying is slower than
desired, but we are looking forward to releasing our initial
pending results in the coming weeks.”
ABOUT CORE
CORE is a company that engages in the exploration in Alaska for
gold and associated minerals through a 30% interest in Peak Gold,
LLC, which leases approximately 675,000 acres for exploration and
development, and through Contango Minerals Alaska, LLC, its wholly
owned subsidiary, which leases approximately 200,000 acres for
exploration. The Company also owns the rights to the Lucky Shot,
Coleman and War Baby mines, and approximately 16,600 acres of
surrounding mining claims located in Willow Mining District about
75 miles north of Anchorage, Alaska. Additional information can be
found on our web page at www.contangoore.com.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements regarding
CORE that are intended to be covered by the safe harbor for
“forward-looking statements” provided by the Private Securities
Litigation Reform Act of 1995, based on CORE’s current expectations
and includes statements regarding future results of operations,
quality and nature of the asset base, the assumptions upon which
estimates are based and other expectations, beliefs, plans,
objectives, assumptions, strategies or statements about future
events or performance (often, but not always, using words such as
“expects”, “projects”, “anticipates”, “plans”, “estimates”,
“potential”, “possible”, “probable”, or “intends”, or stating that
certain actions, events or results “may”, “will”, “should”, or
“could” be taken, occur or be achieved). Forward-looking statements
are based on current expectations, estimates and projections that
involve a number of risks and uncertainties, which could cause
actual results to differ materially from those, reflected in the
statements. These risks include, but are not limited to: the risks
of the exploration and the mining industry (for example,
operational risks in exploring for, developing mineral reserves;
risks and uncertainties involving geology; the speculative nature
of the mining industry; the uncertainty of estimates and
projections relating to future production, costs and expenses; the
volatility of natural resources prices, including prices of gold
and associated minerals; the existence and extent of commercially
exploitable minerals in properties acquired by CORE or Peak Gold
LLC; ability to realize the anticipated benefits of the recent
transactions with an affiliate of Kinross; disruption from the
transactions and transition of the Peak Gold, LLC’s management to
an affiliate of Kinross, including as it relates to maintenance of
business and operational relationships; potential delays or changes
in plans with respect to exploration or development projects or
capital expenditures; the interpretation of exploration results and
the estimation of mineral resources; the loss of key employees or
consultants; health, safety and environmental risks and risks
related to weather and other natural disasters); uncertainties as
to the availability and cost of financing; CORE’s inability to
retain or maintain its relative ownership interest in Peak Gold,
LLC; inability to realize expected value from acquisitions;
inability of our management team to execute its plans to meet its
goals; the extent of disruptions caused by the COVID-19 outbreak;
and the possibility that government policies may change, political
developments may occur or governmental approvals may be delayed or
withheld, including as a result of the recent presidential and
congressional elections in the U.S. or the inability to obtain
mining permits. Additional information on these and other factors
which could affect CORE’s exploration program or financial results
are included in CORE’s other reports on file with the U.S.
Securities and Exchange Commission. Investors are cautioned that
any forward-looking statements are not guarantees of future
performance and actual results or developments may differ
materially from the projections in the forward-looking statements.
Forward-looking statements are based on the estimates and opinions
of management at the time the statements are made. CORE does not
assume any obligation to update forward-looking statements should
circumstances or management’s estimates or opinions change.
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version on businesswire.com: https://www.businesswire.com/news/home/20221110006193/en/
Contango ORE, Inc. Rick Van Nieuwenhuyse (713) 877-1311
www.contangoore.com
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