Contango Silver & Gold

Q2 FY2026 EarningsQ2 FY2026 results were mixed relative to consensus, with a GAAP EPS beat of $0.14 vs. $0.12 expected, while Adjusted Net Loss was significantly worse than the near-breakeven expectation ($5.5M loss vs. $0M). Despite a total loss from operations of $8.5M (missing the -$10.8M EBIT expectation on a relative basis), the company achieved a major milestone as the Manh Choh project fully repaid its initial $105M investment. Management provided robust guidance for FY2027, targeting 75,000–80,000 gold ounces at an AISC of $1,300–$1,400 per ounce, while successfully liquidating its gold hedge book to capture 100% price upside.