Contango Silver & Gold Inc.
For the period ended Dec 31, 2024. Filed Mar 17, 2025.
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FY2024 · Filed Mar 17, 2025
CTGO$15.21-8.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STAT EMENTS OF CASH FLOWS
| Fiscal Year Ended December 31 | Six Months Ended December 31, | Fiscal Year Ended June 30, | |
|---|---|---|---|
| 2024 | 2023 | 2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net loss | $(38,030,291) | $(40,766,308) | $(39,741,300) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||
| Stock-based compensation | 2,638,635 | 1,622,566 | 2,931,288 |
| Depreciation expense | 121,876 | 52,620 | 136,501 |
| Accretion expense | 9,542 | 6,284 | 11,860 |
| Non-cash portion for lease expense | 180 | — | — |
| Impairment expense | — | — | 7,111 |
| Equity (earnings) loss from investment in Peak Gold, LLC | (41,669,216) | 6,315,595 | 21,120,000 |
| Cash distribution from Peak Gold, LLC | 40,500,000 | — | — |
| Unrealized loss from derivative contracts | 34,274,326 | 23,417,781 | — |
| Unrealized loss from marketable securities | 199,018 | — | — |
| Drawdown of Silver Royalty | (127,366) | — | — |
| Interest expense paid in stock | 400,048 | 166,641 | 438,877 |
| Deferred tax benefit | (90,511) | — | — |
| Change in the fair value of contingent consideration | — | (140,083) | (606,500) |
| Amortization of debt discount and debt issuance fees | 4,108,887 | 398,418 | 190,358 |
| Changes in operating assets and liabilities: | |||
| Decrease (increase) in prepaid expenses and other | 339,627 | (699,003) | 39,446 |
| Increase (decrease) in accounts payable and other accrued liabilities | (1,326,643) | 193,200 | 793,788 |
| Increase in income taxes receivable | (649,125) | — | — |
| Net cash provided by (used) in operating activities | 698,987 | (9,432,289) | (14,678,571) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Cash invested in Peak Gold, LLC | (31,290,000) | (34,380,000) | (21,120,000) |
| Acquisition of HighGold Mining Inc. and Avidian Gold Corp., net of cash acquired | (815,613) | — | — |
| Acquisition of other assets | (23,667) | (7,329) | (719) |
| Net cash used in investing activities | (32,129,280) | (34,387,329) | (21,120,719) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Cash paid for shares withheld from employees for payroll tax withholding | — | (48,308) | (126,428) |
| Cash proceeds from warrant exercise | — | — | 6,886,000 |
| Cash proceeds from debt | 30,000,000 | 20,000,000 | 7,647,500 |
| Principal repayments on debt | (7,900,000) | — | — |
| Cash proceeds from common stock and warrant issuance, net | 15,477,398 | 29,254,302 | 11,564,082 |
| Debt issuance costs | (1,568,974) | (1,526,179) | (1,620,771) |
| Net cash provided by financing activities | 36,008,424 | 47,679,815 | 24,350,383 |
| NET INCREASE (DECREASE) IN CASH AND RESTRICTED CASH | 4,578,131 | 3,860,197 | (11,448,907) |
| CASH AND RESTRICTED CASH, BEGINNING OF PERIOD | 15,737,391 | 11,877,194 | 23,326,101 |
| CASH AND RESTRICTED CASH, END OF PERIOD | $20,315,522 | $15,737,391 | $11,877,194 |
| Supplemental disclosure of cash flow information | |||
| Cash paid for: | |||
| Interest expense | $7,229,674 | $1,218,499 | $1,324,474 |
| Income taxes | 656,235 | — | — |
| Non-cash investing and financing activities: | |||
| Commitment fee derecognized and added to debt discount | 787,306 | — | — |
| Shares issued for acquisitions | 35,331,402 | — | — |
| Consideration payable for Avidian acquisition | 557,945 | — | — |
| Accrued transaction costs for HighGold acquisition | 21,919 | — | — |
| Total non-cash investing and financing activities: | $36,698,572 | $— | $— |
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