Development Financing Completed For The Manh Choh Property and Lucky Shot Exploration Updates
Rick Van Nieuwenhuyse, President and CEO of Contango Ore (NYSE-A:CTGO) joins me to discuss the recently completed project financing for the Company’s share at the Manh Choh Project and exploration outlook for the Lucky Shot Project. Both Projects are in Alaska.
At Manh Choh the Company is a 30% non-operating partner with Kinross the 70% operating partner. On March 20th Contango Ore announced a US$70million senior secured loan facility with ING Capital and Macquarie Bank. I have Rick explain how this deal came together and cash-flow estimates for the asset at these higher gold prices.
On the exploration front, we focus on the Luck Shot Project and the initial Resource Estimate coming out very soon.