Published on 15 Nov 2023 on GuruFocus.com via Yahoo Finance
Contango Ore Inc (CTGO) announced a net loss of $13.1 million for Q3 2023, a significant increase from the previous year.The company's loss was primarily due to a loss from equity investment and losses on derivative contracts related to gold hedges.At the annual meeting, shareholders approved executive compensation and the 2023 Omnibus Incentive Plan, among other proposals.President and CEO Rick Van Nieuwenhuyse remains optimistic about the on-schedule progress of the Manh Choh project, set for production in the second half of 2024.
Warning! GuruFocus has detected 1 Warning Sign with CTGO.