Contango Enhances Economics with Strategic Settlement of the Lucky Shot Milestone Payments and Receives $9 Million Cash Distribution from Peak Gold JV
Contango settled $18.75 million in milestone payments related to the Lucky Shot Project for $5 million in cash and 100,000 common shares, securing 100% unencumbered control of the asset. The company also received a $9 million cash distribution from the Peak Gold JV, attributed to the second 2026 production campaign at the Manh Choh mine.
Key figures
- Shares deemed value
- 1570000
- Cash distribution jv
- 9000000
- Cash paid settlement
- 5000000
- Reference share price
- 15.74
- Shares issued settlement
- 100000
- Total consideration paid
- 6570000
- Lucky shot obligation settled
- 18750000
AI analysis
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