09:21 AM EDT, 06/25/2025 (MT Newswires) -- Contango Ore ( CTGO ) said Wednesday that it received a $21 million cash distribution from its Peak Gold joint venture, raising the total amount received to $54 million year-to-date.

Contango Ore ( CTGO ) said the Peak Gold project in Alaska, of which the company owns 30%, has produced approximately 36,000 ounces of gold for its account so far this year, with another campaign scheduled to begin in August.

Chief Executive Rick Van Nieuwenhuyse said that the company now expects cash distributions for 2025 from the Peak Gold JV to exceed $95 million, assuming a $3,100 per ounce spot gold price for the rest of the year.

Shares of Contango Ore ( CTGO ) were up 1.7% in recent premarket activity.