08:36 AM EDT, 09/17/2024 (MT Newswires) -- Contango Ore ( CTGO ) said Tuesday it received a $19.5 million cash distribution from the Peak Gold joint venture related to production at the Manh Choh gold mine near Tok, Alaska.

The company said it has a 30% stake in Peak Gold, which operates the mine.

Two further campaigns are planned in 2024, with at least one more cash distribution expected before year-end, Contango Ore ( CTGO ) said.

The company said it expects its share of gold production from the joint venture to be between 30,000 and 40,000 ounces for 2024.