Contango ore announces earnings for quarter ended december 31, 2022

Houston--( business wire )--contango ore, inc. (“core” or the “company”) (nyse american: ctgo) announced that it had a net loss of $(14.3) million, or $(2.10) per basic and diluted share, for the three months ended december 31, 2022 compared to a net loss of ($4.9) million or $(0.72) per basic and diluted share for the same period last year. for the six months ended december 31, 2022, the company reported a net loss of ($21.4) million, or ($3.15) per basic and diluted share, compared to a net loss of ($9.4) million or ($1.41) per basic and diluted share for the same period last year. the increase in net loss for the sixth month period ended december 31, 2022, is due to increased exploration and development expenses on the lucky shot project and as a result of increased costs related to advancing the company's 30% equity interest in peak gold, llc, where early works construction was initiated after receipt of the wetlands 404 permit. the company expects to experience additional losses until the manh choh project begins commercial production, which we anticipate will be in the second half of 2024. the company also announced that it filed its form 10-q for the quarter ended december 31, 2022, with the securities and exchange commission.
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