Contango Silver & Gold Inc. (CTGO) Form 8-K — Jul 8, 2026
Contango Silver & Gold Inc. entered into an amendment to its credit facility, converting its remaining 15,000 ounces of gold hedge contracts into approximately $33 million of term loan debt. The company purchased 15,000 put option contracts with a $3,100 per ounce strike price to offset the hedge settlements, adding $715,000 to the debt principal. The total principal of the credit facility increased from $12.6 million to $46.3 million, while the applicable margin was reduced from 5.00% to 3.63%, resulting in an overall interest rate of approximately 7.40%.
Key figures
- Total Debt
- $46.3 million
- Debt Amount
- approximately $33 million
- Interest Rate
- 3.63%
- Put option cost
- $715,000
- Put option strike
- $3,100 per ounce
- Repayment dec 2026
- $1,000,000
- Repayment jun 2027
- $28,800,000
- Repayment mar 2027
- $15,500,000
- Prior interest rate
- approximately 8.9%
- Repayment sept 2026
- $1,000,000
- New total interest rate
- approximately 7.40%
- Hedge termination ounces
- 15000
Price after filing
Close on the filing date to close N calendar days later (from $15.71). Historical, not a forecast.
AI analysis
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