10-K Filing

Contango ORE, Inc. CIK: 1502377 FY 2021

Filing Information

Form Type	10-K
Accession Number	`0001437749-21-021206`
Period End Date	20210630
Filing Date	20210831
Fiscal Year	2021
Fiscal Period	FY
XBRL Instance	ctgo-20210630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 59 Income Statement 28 Cash Flow Statement 44 Stockholders Equity 18

Balance Sheet 59 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	15.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	15.00M	shares	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$3.01M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$35.22M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	30.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	45.00M	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseCurrent`	$72.24K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseCurrent`	$515.63K	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	45.00M	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	-	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$198.13K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	6.68M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	6.59M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$3.08M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$35.93M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	6.56M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	6.68M	shares	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	32,874.00	shares	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	0.00	shares	Point-in-time
Investment in Peak Gold, LLC (NOTE 8)	`EquityMethodInvestments`	-	USD	Point-in-time
Investment in Peak Gold, LLC (NOTE 8)	`EquityMethodInvestments`	-	USD	Point-in-time
Property, plant, & equipment	`PropertyPlantAndEquipmentNet`	$36.53K	USD	Point-in-time
Property, plant, & equipment	`PropertyPlantAndEquipmentNet`	-	USD	Point-in-time
Total long-term assets	`AssetsNoncurrent`	-	USD	Point-in-time
Total long-term assets	`AssetsNoncurrent`	$36.53K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$35.97M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$3.08M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$83.16K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$26.27K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.01M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$195.84K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.09M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$222.10K	USD	Point-in-time
Advance royalty reimbursement	`AdvanceRoyaltyReimbursementNoncurrent`	-	USD	Point-in-time
Advance royalty reimbursement	`AdvanceRoyaltyReimbursementNoncurrent`	$1.20M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$1.20M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	-	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$1.42M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$1.09M	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES (NOTE 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES (NOTE 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred Stock, 15,000,000 shares authorized	`PreferredStockValue`	-	USD	Point-in-time
Preferred Stock, 15,000,000 shares authorized	`PreferredStockValue`	-	USD	Point-in-time
Common Stock, $0.01 par value, 45,000,000 shares authorized; 6,675,746 shares issued and outstanding as of June 30, 2021; 6,590,113 shares issued and 6,557,239 outstanding at June 30, 2020	`CommonStockValue`	$66.76K	USD	Point-in-time
Common Stock, $0.01 par value, 45,000,000 shares authorized; 6,675,746 shares issued and outstanding as of June 30, 2021; 6,590,113 shares issued and 6,557,239 outstanding at June 30, 2020	`CommonStockValue`	$65.90K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$61.30M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$69.51M	USD	Point-in-time
Treasury stock at cost (0 at June 30, 2021; and 32,874 shares at June 30, 2020)	`TreasuryStockValue`	-	USD	Point-in-time
Treasury stock at cost (0 at June 30, 2021; and 32,874 shares at June 30, 2020)	`TreasuryStockValue`	$476.67K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-58.90M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-35.03M	USD	Point-in-time
SHAREHOLDERS EQUITY	`StockholdersEquity`	$1.99M	USD	Point-in-time
SHAREHOLDERS EQUITY	`StockholdersEquity`	$34.55M	USD	Point-in-time
SHAREHOLDERS EQUITY	`StockholdersEquity`	$83.43M	USD	Point-in-time
TOTAL LIABILITIES AND MEMBERS EQUITY	`LiabilitiesAndStockholdersEquity`	$35.97M	USD	Point-in-time
TOTAL LIABILITIES AND MEMBERS EQUITY	`LiabilitiesAndStockholdersEquity`	$3.08M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Exploration expense	`ExplorationExpense`	-	USD	Annual
Exploration expense	`ExplorationExpense`	$299.90K	USD	Annual
General and administrative expense	`GeneralAndAdministrativeExpense`	$10.36M	USD	Annual
General and administrative expense	`GeneralAndAdministrativeExpense`	$5.59M	USD	Annual
Total expenses	`CostsAndExpenses`	$10.66M	USD	Annual
Total expenses	`CostsAndExpenses`	$5.59M	USD	Annual
Interest income	`InvestmentIncomeInterest`	$74.95K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$1.57K	USD	Annual
Loss from equity investment in Peak Gold, LLC	`IncomeLossFromEquityMethodInvestments`	$-3.72M	USD	Annual
Loss from equity investment in Peak Gold, LLC	`IncomeLossFromEquityMethodInvestments`	$-3.86M	USD	Annual
Gain on sale of a portion of the equity investment in Peak Gold, LLC	`EquityMethodInvestmentRealizedGainLossOnDisposal`	-	USD	Annual
Gain on sale of a portion of the equity investment in Peak Gold, LLC	`EquityMethodInvestmentRealizedGainLossOnDisposal`	$39.69M	USD	Annual
Total other income/(expense)	`NonoperatingIncomeExpense`	$35.83M	USD	Annual
Total other income/(expense)	`NonoperatingIncomeExpense`	$-3.65M	USD	Annual
INCOME/(LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$25.17M	USD	Annual
INCOME/(LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-9.24M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$1.30M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	Annual
NET INCOME/(LOSS)	`NetIncomeLoss`	$23.87M	USD	Annual
NET INCOME/(LOSS)	`NetIncomeLoss`	$-9.24M	USD	Annual
Basic (in dollars per share)	`EarningsPerShareBasic`	$3.82	USD	Annual
Basic (in dollars per share)	`EarningsPerShareBasic`	$-1.43	USD	Annual
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-1.43	USD	Annual
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$3.82	USD	Annual
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	6.48M	shares	Annual
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	6.25M	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	6.25M	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	6.48M	shares	Annual

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net income/(loss)	`NetIncomeLoss`	$23.87M	USD	Annual
Net income/(loss)	`NetIncomeLoss`	$-9.24M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$3.89M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$3.37M	USD	Annual
Loss from equity investment in Peak Gold, LLC	`IncomeLossFromEquityMethodInvestments`	$-3.72M	USD	Annual
Loss from equity investment in Peak Gold, LLC	`IncomeLossFromEquityMethodInvestments`	$-3.86M	USD	Annual
Gain on sale of a portion of the equity investment in Peak Gold, LLC	`EquityMethodInvestmentRealizedGainLossOnDisposal`	-	USD	Annual
Gain on sale of a portion of the equity investment in Peak Gold, LLC	`EquityMethodInvestmentRealizedGainLossOnDisposal`	$39.69M	USD	Annual
Decrease/(increase) in prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$443.39K	USD	Annual
Decrease/(increase) in prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-88.95K	USD	Annual
Increase/(decrease) in accounts payable and other accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$670.11K	USD	Annual
Increase/(decrease) in accounts payable and other accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-867.29K	USD	Annual
Increase in income tax receivable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	-	USD	Annual
Increase in income tax receivable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-198.13K	USD	Annual
Increase in advance royalty reimbursement	`IncreaseDecreaseInAdvanceRoyaltyReimbursement`	$1.20M	USD	Annual
Increase in advance royalty reimbursement	`IncreaseDecreaseInAdvanceRoyaltyReimbursement`	-	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.39M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-8.38M	USD	Annual
Cash invested in Peak Gold, LLC	`PaymentsToAcquireEquityMethodInvestments`	$3.86M	USD	Annual
Cash invested in Peak Gold, LLC	`PaymentsToAcquireEquityMethodInvestments`	$3.72M	USD	Annual
Acquisition of property, plant, & equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	Annual
Acquisition of property, plant, & equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$36.53K	USD	Annual
Cash proceeds from the sale of a portion of the equity investment in Peak Gold, LLC	`ProceedsFromSaleOfEquityMethodInvestments`	$31.25M	USD	Annual
Cash proceeds from the sale of a portion of the equity investment in Peak Gold, LLC	`ProceedsFromSaleOfEquityMethodInvestments`	-	USD	Annual
Net cash provided/(used) by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.72M	USD	Annual
Net cash provided/(used) by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$27.35M	USD	Annual
Cash paid for shares withheld from employees for payroll tax withholding	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$876.55K	USD	Annual
Cash paid for shares withheld from employees for payroll tax withholding	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$476.67K	USD	Annual
Cash proceeds from capital raises, net	`ProceedsFromIssuanceOfCommonStockNet`	-	USD	Annual
Cash proceeds from capital raises, net	`ProceedsFromIssuanceOfCommonStockNet`	$14.11M	USD	Annual
Net cash provided/(used) in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$13.23M	USD	Annual
Net cash provided/(used) in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-476.67K	USD	Annual
NET INCREASE/(DECREASE) IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-5.59M	USD	Annual
NET INCREASE/(DECREASE) IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$32.21M	USD	Annual
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.01M	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.60M	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$35.22M	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.01M	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.60M	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$35.22M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaidNet`	$1.50M	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Shares received from partial sale of the investment in Peak Gold, LLC and retired	`StockReceivedAndRetiredFromSaleOfInvestmentValue`	-	USD	Annual
Shares received from partial sale of the investment in Peak Gold, LLC and retired	`StockReceivedAndRetiredFromSaleOfInvestmentValue`	$8.44M	USD	Annual

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$1.99M	USD	Point-in-time
Balance	`StockholdersEquity`	$34.55M	USD	Point-in-time
Balance	`StockholdersEquity`	$83.43M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$3.89M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$3.37M	USD	Annual
Restricted shares activity	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	Annual
Restricted shares activity	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	Annual
Treasury shares withheld for employee taxes	`AdjustmentsToAdditionalPaidInCapitalTreasurySharesWithheldForEmployeeTaxes`	$-876.55K	USD	Annual
Treasury shares withheld for employee taxes	`AdjustmentsToAdditionalPaidInCapitalTreasurySharesWithheldForEmployeeTaxes`	$-476.67K	USD	Annual
Net income/(loss)	`NetIncomeLoss`	$23.87M	USD	Annual
Net income/(loss)	`NetIncomeLoss`	$-9.24M	USD	Annual
Issuance of common stock	`StockIssuedDuringPeriodValueNewIssuesAndTreasuryStockReissued`	$14.28M	USD	Annual
Cost of common stock issuance	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$163.59K	USD	Annual
Shares received from partial sale of the investment in Peak Gold, LLC and retired	`StockReceivedAndRetiredFromSaleOfInvestmentValue`	-	USD	Annual
Shares received from partial sale of the investment in Peak Gold, LLC and retired	`StockReceivedAndRetiredFromSaleOfInvestmentValue`	$8.44M	USD	Annual
Balance	`StockholdersEquity`	$1.99M	USD	Point-in-time
Balance	`StockholdersEquity`	$34.55M	USD	Point-in-time
Balance	`StockholdersEquity`	$83.43M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.