Contango Silver & Gold Inc. (NYSE American / TSX: CTGO) announced its financial results for the quarter ended September 30, 2026, and provided updates on its operating projects in a press release dated November 13, 2026. The company reported a consolidated net loss of $23.0 million for the third quarter, with an adjusted net loss of $20.9 million. These figures were primarily driven by the expensing of exploration activities across all projects. As of September 30, 2026, the company held $56.6 million in cash and cash equivalents, a decrease from $64.8 million as of December 31, 2025.
Regarding the Manh Choh mine, the Peak Gold Joint Venture (JV) completed the transition from the north pit to the south pit during the quarter. The company received a cash distribution of $6 million from the JV on October 7, 2026. Contango’s share of production sold for the quarter totaled 7,333 ounces of gold and 5,349 ounces of silver. The company expects the fourth and final 2026 campaign to commence in mid-November, with anticipated production of 13,000 to 15,000 gold equivalent ounces net to Contango. This would bring the total cash distributions for 2026 to $40 million, assuming a final distribution of $16 million in the fourth quarter.
On the exploration front, Contango provided updates on several key projects. At the Kitsault Valley project, the company completed 56,000 meters of drilling, roughly 40% more than planned, and released an updated mineral resource estimate in September 2026. The updated estimate includes 7.66 million tonnes of indicated resources containing 58.70 million ounces of silver and 394.70 thousand ounces of gold. At the Lucky Shot project, the company completed surface and underground drilling programs totaling over 11,000 meters. Assay results released in September and October included intervals grading as high as 140.23 g/t Au. At the Johnson Tract project, the company completed construction of a 2.6-mile access road and confirmed that the Section 404 permit remains in place following a court ruling in September 2026.
