Contango Silver & Gold Inc. has amended its purchase agreement for the Lucky Shot Project, settling up to $18.75 million in potential future milestone payments with the project's original seller, CRH Funding II Pte. Ltd. This strategic move eliminates contingent liabilities tied to future exploration and production success in exchange for a fixed, upfront payment of cash and stock.
Key Details
- Agreement: The First Amendment to the Membership Interest Purchase and Sale Agreement was executed on June 26, 2026.
- Settlement Terms: Contango will pay $5 million in cash and issue 100,000 new shares of common stock (to be issued by July 6, 2026) to fully satisfy the milestone payment obligations.
- Related Event: In a separate announcement, the company disclosed it received a $9 million cash distribution from its Peak Gold JV on June 25, 2026, related to production at the Manh Choh mine.