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Contango ORE drops gold hedges to boost upside as Manh Choh mine output nears
From MarketBeat, Sioux Falls, South Dakota
Sunday, July 12, 2026
Contango ORE executives said the company has eliminated its remaining gold hedge book by converting the last 15,000 ounces of hedged gold into debt, a move management framed as increasing shareholder exposure to gold prices while preserving equity.
Speaking during an investor webinar, Rick Van Nieuwenhuyse, president and CEO of Contango Silver & Gold, said the hedges were not put in place as a bet against gold, but were required by lenders in 2023 as the company moved the Manh Choh mine toward production.
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"Investors invest in a gold-producing company, and particularly a junior gold-producing company, because they want that exposure, that leverage to the upside in the gold price," Van Nieuwenhuyse said. "Where we are now, we believe in the upside in the gold price." ...
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