Peak Gold, LLC is developing what we believe will be the “Next gold mine in Alaska”. We are doing this in partnership with a subsidiary of Kinross Gold Corp. and the Tetlin Alaska Native Tribe. Our partnership with Kinross allows us to mine our 1.3 Moz Peak Gold deposit ore, then truck and process that ore at Kinross’ Fort Knox Milling Complex.
It is a simple plan requiring relatively low capital investment (we are not building or permitting a mill or a tailings facility) and consequently has relatively low execution risk. Based on Kinross’ estimates, Contango ORE will produce on average 65,000 Gold Equivalent Ounces (GEO) per year over a 5 year timeframe at an average All In Sustaining Cost (AISC) of $750/GEO.
The company has mineral rights covering 845,000 acres in the heart of the Tintina Gold belt - one of the hottest exploration plays in the world. The Management Team has a proven track record of discovering high quality gold, silver and copper deposits that have created significant returns for shareholders.
With over $30 million in cash on hand and the potential cash flow generating ability of the known Peak Gold deposit, we believe that Contango ORE is well positioned for future growth that will continue to add value for Contango shareholders.