Contango Silver & Gold reported a transitional second quarter of 2026, generating $37.5 million in total metal sales and achieving GAAP net income of $4.8 million. The company's 30% share of production from the Manh Choh mine totaled 8,627 gold ounces and 10,319 silver ounces, while the company ended the period with a strengthened cash position of $89 million following a $9 million distribution from the Peak Gold joint venture.
Key Highlights
- The initial $105 million capital investment in the Manh Choh mine has been fully repaid, with total returns to date reaching $160 million.
- Operations are transitioning into higher-grade portions of the Manh Choh South Pit, supporting 2026 production guidance of 40,000 to 45,000 gold ounces and a projected step-up to 80,000 ounces in 2027.
- The company fully liquidated its gold hedge book as of July 1, 2026, providing 100% unhedged exposure to spot gold prices moving forward.