Earnings Releases·Nov 13, 2026, 9:00 AM ET

Contango Silver & Gold — Q3 2026 Earnings Summary

**Financial Performance:** The company reported a net loss of $23.0 million ($0.66/share) for Q3 2026, a significant deterioration from the $5.4 million net loss ($0.44/share) in Q3 2025, driven by a swing from $25.0 million in operational income to a $24.2 million operational loss; cash and equivalents declined to $56.6 million from $64.8 million at year-end 2025.
**Production and Costs:** Q3 2026 production totaled 7,657 gold equivalent ounces, with AISC rising to $2,909 per ounce due to the transition to the south pit at Manh Choh and higher operating costs; despite these challenges, management expects to meet the lower end of 2026 guidance (40,000 gold equivalent ounces) and anticipates a Q4 production campaign of 13,000–15,000 ounces.
**Strategic Acquisitions and Capital Allocation:** The company closed the $16.1 million acquisition of the Lucky Shot project in July 2026 and amended its credit facility in July 2026 to eliminate 15,000 ounces of hedges in exchange for a $33.7 million facility increase; additionally, a new ATM program was established on November 13, 2026, to sell up to $75.0 million in common stock.
**Future Outlook:** Full-year 2026 cash distributions are projected to reach $40 million, while 2027 production and cost guidance will be released in December 2026, alongside targeted milestones including an updated mineral resource estimate for Kitsault Valley and Lucky Shot in H1 2027 and a feasibility study for Lucky Shot in late 2027.