What Contango ORE does

Contango Silver & Gold Inc. (formerly Contango ORE, Inc.) is a North American mid-tier precious metals producer, developer, and explorer headquartered in Fairbanks, Alaska, with a secondary office in Vancouver, British Columbia following its March 2026 merger with Dolly Varden Silver. The company holds a 30% interest in the Manh Choh gold mine in Alaska through the Peak Gold JV (operated by Kinross Gold subsidiary KG Mining Alaska, which holds 70%), producing approximately 60,000 ounces of gold annually for Contango's share at an average head grade of ~8 g/t Au, processed through Kinross's Fort Knox mill.

The company's defining operational feature is its Direct Ship Ore (DSO) model, which bypasses on-site mill construction by shipping ore to existing permitted regional processing facilities. The model is reported to deliver approximately 70% lower infrastructure spend and roughly 60% smaller surface footprint versus traditional developers, with capital costs of $1.2M-$2.5M per ounce of annual production versus an industry average of $2,000-$5,000/oz. Post-merger assets include the Lucky Shot and Johnson Tract advanced-stage gold projects in Alaska, the Kitsault Valley silver-gold project in BC's Golden Triangle, and several earlier-stage Alaska exploration properties, with combined resources of approximately 2 million ounces of gold and 65 million ounces of silver across roughly 922,000 acres of mineral rights.

Contango generates revenue by selling gold and silver at prevailing spot prices to refiners and commodity markets and by receiving cash distributions from the Peak Gold JV. FY 2025 income from operations was $69.1M with $102M in cash distributions from the JV; projections of $48M-$54M (2026) and $165M-$175M (2027) in distributions reflect ramping Manh Choh production and the recent gold hedge buyback. The company is publicly traded on NYSE American and the Toronto Stock Exchange under CTGO, with broad sell-side analyst coverage and a ~$662M market capitalization as of May 2026.

Name

Contango ORE

Legal name

Contango Silver & Gold, Inc.

Website

https://contangoore.com

Company type

Public

Founded year

2012

Operating status

Operating

Headcount range

11–50 employees

Short description

Contango Silver & Gold is a North American mid-tier precious metals producer with a 30% interest in the Manh Choh gold mine (Kinross-operated JV in Alaska) and advanced-stage gold and silver projects across Alaska and British Columbia's Golden Triangle, utilizing a Direct Ship Ore model that bypasses on-site mill construction.

Ownership category

akta.pro rank

Product category

Precious Metals Mining

NAICS

Gold Ore and Silver Ore Mining (212220), Gold Ore and Silver Ore Mining (21222), Other Metal Ore Mining (212290)

SIC

Gold And Silver Ores (1040), Metal Mining (1000)

akta.pro primary industry

Gold Mining (IMAKAEAA)

Keywords

• Precious metals mining
• Gold exploration production
• Silver exploration
• Joint venture mining
• Direct ship ore

Headquarters

HQ city

Fairbanks

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Gold and Silver Production: Revenue generated from the sale of gold and silver produced at the Manh Choh mine (30% interest, operated by Kinross Gold). The company reports approximately 60,200 gold equivalent ounces produced in FY 2025. Additional revenue streams include distributions from the Peak Gold JV and eventually from Lucky Shot and Kitsault Valley projects.
2. Joint Venture Distributions: Cash distributions received from the Peak Gold JV, which operates the Manh Choh project. In FY 2025, the company received $102 million in cash distributions from the JV.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Contango Silver & Gold is a North American mid-tier precious metals producer, developer, and explorer that produces and sells gold and silver. The company employs a Direct Ship Ore (DSO) model that bypasses on-site mill construction by transporting extracted ore to existing third-party processing facilities (such as Kinross's Fort Knox mill), reducing capital expenditure and environmental footprint. Its portfolio includes the producing Manh Choh gold mine (30% JV with Kinross), the Lucky Shot and Johnson Tract advanced exploration projects in Alaska, and the Kitsault Valley silver-gold project in British Columbia.

Product overview

Contango Silver & Gold is a North American mid-tier precious metals producer, developer, and explorer operating across Alaska and British Columbia's Golden Triangle. The company utilizes a Direct Ship Ore (DSO) model to bypass mill construction costs. Its portfolio includes the producing Manh Choh gold mine (30% JV with Kinross), the Lucky Shot and Johnson Tract advanced exploration projects in Alaska, and the Kitsault Valley silver-gold project in BC. Combined resources total approximately 2 million ounces of gold and 65 million ounces of silver. The company completed its merger with Dolly Varden Silver in March 2026, creating a larger entity with over US$100 million in cash and minimal debt.

Differentiator

Problem solved

Functional benefit

Products and services

• Manh Choh Project A producing gold mine located in Alaska with Contango holding a 30% interest (Kinross holds 70% and operates the mine). Produces approximately 60,000 oz gold annually for Contango's share, with one of the world's highest-grade open pit gold mines averaging approximately 8 g/t Au. Processes ore through Kinross's Fort Knox mill.
• Lucky Shot Project A high-grade gold exploration and development project in Alaska's Willow Mining District covering approximately 8,590 acres. Features historic mines including Coleman, Lucky Shot, and War Baby. Advancing toward a feasibility study targeting 40,000-50,000 oz annual gold production using the Direct Ship Ore approach.
• Johnson Tract Project A polymetallic (gold, zinc, copper, silver, lead) project located near tidewater 125 miles southwest of Anchorage, Alaska. Features the high-grade JT Deposit with an Indicated Resource of 3.489 Mt grading 9.39 g/t AuEq and the Ellis Zone discovery. Advancing through the FAST-41 federal permitting process. Metallurgical testing has demonstrated 97.2% gold recovery.
• Kitsault Valley Project A 100%-owned silver-gold project in British Columbia's Golden Triangle covering approximately 247,000 acres (100,000 hectares). Includes the Torbrit, North Star, Dolly Varden, Wolf, and Homestake Ridge deposits. Targeting a ~40,000-meter drill program with a resource update expected in H1 2027.
• Eagle Project

Quantifiable outcome

• ~8 g/t Au average head grade at Manh Choh - among world's highest-grade open pit gold mines
• +2 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Six partnerships are on record, tiered core and minor.

• Dolly Varden Silver CorporationcoreStrategic or Co-development Partner · 26 March 2026Completed merger-of-equals in March 2026, creating Contango Silver & Gold Inc. Exchange ratio: 0.1652 Contango shares per Dolly Varden share. Combined entity holds Kitsault Valley silver-gold project in BC's Golden Triangle plus over $100M in cash. Dolly Varden shareholders received approximately 50% ownership of merged entity.
• KG Mining (Alaska) Inc. (Kinross Gold Corporation subsidiary)coreStrategic or Co-development Partner · 30 January 2026Kinross subsidiary operates the Peak Gold JV managing the Manh Choh project. Contango holds 30% interest while Kinross holds 70%. The JV processes ore through Kinross's Fort Knox mill near Fairbanks, Alaska. This partnership provides operational expertise and existing infrastructure, enabling Contango to produce gold without building its own mill. Contango received $102 million in distributions from this JV in FY 2025.
• HighGold Mining Inc.coreStrategic or Co-development Partner · 10 July 2024Contango acquired HighGold Mining in July 2024 for approximately $37 million, adding the Johnson Tract Critical Metals Project to its portfolio. HighGold was acquired through a court-approved plan of arrangement, expanding Contango's resource base with high-grade polymetallic deposits in Alaska.
• Cook Inlet Region Inc. (CIRI)coreStrategic or Co-development PartnerCIRI is an Alaska Native regional corporation and owner of the land underlying the Johnson Tract project. HighGold (now Contango subsidiary) holds a lease agreement with CIRI including an Initial Term of 10 years, Development Term of 5 years, and Production Term. CIRI maintains certain NSR royalty rights and a back-in right for up to 25% participating interest.
• Alaska Hardrock Inc.minorStrategic or Co-development PartnerOwner of the underlying Lucky Shot project lease. Contango held a lease on the Lucky Shot project covering approximately 8,600 acres of State of Alaska and patented mining claims in the Willow Mining District, and subsequently acquired 100% ownership in 2026.
• GMS Mine Repair & Maintenance, Inc.minorImplementation/ SI/ Consulting PartnerMining contractor engaged for underground exploration development at Lucky Shot Project. GMS mobilized to site on May 27, 2026, executing approximately 800 linear meters of underground excavation to establish access and drill platforms for the next phase of exploration drilling.

Scale indicators9 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Hecla Mining Company: Hecla is the largest U.S.-based primary silver producer and a major gold producer operating in Tier-1 North American jurisdictions (Idaho, Alaska). Comparable to Contango Silver & Gold as a mid-tier precious metals producer with both producing mines and a development pipeline, though at significantly larger scale.
• Coeur Mining: Coeur is a U.S.-listed mid-tier precious metals (gold and silver) producer with operations across North America. Directly comparable to Contango Silver & Gold on the axes of mid-tier size, dual-commodity precious metals exposure, North American jurisdiction focus, and growth-pipeline development model.
• SilverCrest Metals: SilverCrest is a Canadian precious metals developer/producer focused on high-grade silver-gold assets in Mexico's Sonora region. Strong peer due to parallel emphasis on high-grade precious metals, dual gold/silver commodity exposure, and the same general mid-cap precious metals niche that Contango now occupies following the Dolly Varden merger.
• Endeavour Silver Corp. Endeavour Silver is a mid-tier Canadian silver-gold producer operating multiple mines in Mexico. Directly comparable as a precious metals producer with both gold and silver output, a growth pipeline, and similar market cap band to Contango Silver & Gold.
• MAG Silver Corp. MAG Silver is a Canadian-focused silver development and exploration company anchored by a stake in the Juanicipio mine in Mexico. Comparable to Contango on silver-gold asset focus, North American-listed mid-cap status, and a hybrid minority-interest-plus-development business model.
• Alexco Resource Corp. Alexco is a Canadian silver producer and explorer in the Yukon (Keno Hill silver district). Highly comparable to Contango given shared executive DNA (board member Cnyt Nauman and CFO Mike Clark both previously at Alexco) and the same silver-developer profile in a Tier-1 Canadian jurisdiction.

Broad incumbents

• Kinross Gold Corporation: Kinross is the operator of Contango's Manh Choh JV and a major senior gold producer with global operations. Comparable as a senior gold producer in Alaska (Fort Knox mill processing Contango ore) and as the de facto operational partner that defines Contango's DSO strategy.
• B2Gold Corp. B2Gold is a senior mid-tier gold producer with operations in Africa and Latin America. Comparable as a larger-scale North American-listed gold producer; tight operational and governance linkages exist via director Mike Cinnamond, who serves as B2Gold's CFO.

Emerging players

• NovaGold Resources: NovaGold is a development-stage precious metals company led historically by Contango's current CEO Rick Van Nieuwenhuyse (founder). Comparable as a North American-focused gold development story, though at a more advanced permitting stage and without the DSO/cash-flow hybrid model that Contango now employs.
• Fury Gold Mines: Fury Gold Mines is a Canadian gold exploration and development company with assets in Quebec and BC's Golden Triangle. Comparable as a North American gold developer at a similar stage and size to Contango's exploration-stage subsidiaries, with direct board linkage via director Tim Clark.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/OreContango
• YouTubeyoutube.com/@contangoore9949/featured
• Facebookfacebook.com/people/Contango-ORE/100064275995234
• LinkedInlinkedin.com/company/contango-ore

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries4 records

Funding overview

Funding rounds5 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Contango ORE