HOUSTON--(BUSINESS WIRE)--Contango ORE, Inc. (“CORE” or the “Company”) (OTCQB: CTGO) announced today that it has filed its Form 10-Q for the quarter ended December 31, 2016 with the Securities and Exchange Commission.
The Company reported a net loss of $0.6 million, or ($0.13) per basic and diluted share, for the three months ended December 31, 2016 compared to a net loss of $0.3 million or $(0.08) per basic and diluted share, for the same period last year. For the six months ended December 31, 2016, the Company reported a net loss of $1.5 million, or ($0.36) per basic and diluted share, compared to a net loss of $0.8 million, or ($0.20) per basic and diluted share, for the same period last year.
Peak Gold, LLC (the “Joint Venture”), managed by our Joint Venture partner Royal Alaska, LLC (“Royal Alaska”), a wholly owned subsidiary of Royal Gold, Inc. (‘RGLD”), expended approximately $10.6 million in calendar year 2016 for exploration, development and project management of its Peak Zone gold ore discovery and other newly discovered gold bearing areas on its Tetlin properties near Tok, Alaska.
Brad Juneau, President and CEO of the Company, commented “The Joint Venture plans to resume drilling within the next week in the North Peak area in an effort to extend the known limits of gold mineralization. We anticipate results from this new drilling in the spring of this year.”
About CORE
CORE is a Houston-based company that engages in the exploration in Alaska for gold and associated minerals through Peak Gold, LLC, its joint venture company with Royal Gold, Inc. Additional information can be found on our web page at www.contangoore.com.
