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construction|exploration|projects|road|surface|underground|drilling

Contango raises $50m to advance Lucky Shot and Johnson Tract projects

29th September 2025

By: Creamer Media Reporter

     

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US-focused Contango ORE has closed a $50-million public offering to fund work at its Lucky Shot and Johnson Tract projects in Alaska.

The offering comprised 1.98-million common shares priced at $20 each and a pre-funded warrant to purchase 525 000 shares at $19.99 each.

Proceeds will be used to advance Lucky Shot to a mine production decision within two years through underground and surface drilling and development. Funds will also support road construction, camp winterisation, an exploration tunnel, advanced drilling and feasibility-level mine planning at Johnson Tract, subject to permitting. Any remaining proceeds will go towards corporate purposes and working capital.

Canaccord Genuity acted as sole bookrunner, with Cormark Securities as lead manager and Maxim Group, Roth Capital Partners and Freedom Capital Markets as co-managers.

Edited by Creamer Media Reporter

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