Contango Ore, Inc. Reports Earnings Results for the Second Quarter Ended December 31, 2020
February 11, 2021 at 09:00 am
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Contango Ore, Inc. announced earnings results for the second quarter ended December 31, 2020. For the second quarter, the company announced net loss was USD 3.214 million compared to USD 2.928 million a year ago. Basic loss per share from continuing operations was USD 0.53 compared to USD 0.45 a year ago. For the half year, net income was USD 30.228 million compared to net loss of USD 4.779 million a year ago. Basic earnings per share from continuing operations was USD 4.79 compared to basic loss per share from continuing operations of USD 0.75 a year ago.
Contango ORE, Inc. is engaged in exploration for gold ore and associated minerals in Alaska. The Company conducts its operations through three primary means. The Company has an approximately 30% membership interest in Peak Gold, LLC, which leases approximately 675,000 acres from the Tetlin Tribal Council. Its subsidiary, Alaska Gold Torrent, LLC, leases the mineral rights to approximately 8,600 acres of the State of Alaska and patented mining claims for exploration from Alaska Hard Rock, Inc. Its subsidiary, Contango Minerals Alaska, LLC, separately owns the mineral rights to approximately 145,280 acres of State of Alaska mining claims for exploration, including approximately 69,780 acres located immediately northwest of the Peak Gold JV Property, approximately 14,800 acres located northeast of the Peak Gold JV Property, approximately 52,700 acres of new property in the Richardson district of Alaska and approximately 8,000 acres located to the north and east of the Lucky Shot Property.