Contango Silver & Gold Inc. (NYSE American:CTGO) filed its quarterly report on Form 10-Q for the period ended June 30, 2026, disclosing a net loss of $9,518,603 for the first half of the year and a significant expansion of total assets following an acquisition.

Key Highlights

  • Net loss of $9,518,603 for the six months ended June 30, 2026, compared to a net loss of $6,623,460 in the same period of 2025, according to the filing.
  • Net income of $4,786,987 for the three months ended June 30, 2026, versus net income of $15,924,865 in the second quarter of 2025.
  • Total assets rose to $496,816,191 as of June 30, 2026, up from $171,951,227 at December 31, 2025, driven primarily by an increase in property and equipment from $52,065,293 to $346,368,297.
  • Cash and cash equivalents were $89,038,319 at June 30, 2026, compared to $64,837,617 at December 31, 2025.
  • Total stockholders' equity increased to $331,512,672 from $25,098,289 at December 31, 2025, with common shares outstanding rising to 32,345,319 from 14,968,929.
  • Exploration expenses totaled $16,099,198 for the six months ended June 30, 2026, compared to $1,498,472 in the same prior-year period.
  • 33,440,691 shares of common stock were outstanding as of August 13, 2026, the filing date.

Contango Silver & Gold Reports Expanded Balance Sheet and Higher Losses in First Half of 2026

Contango Silver & Gold Inc., listed on NYSE American and the Toronto Stock Exchange under the symbol CTGO, filed its unaudited condensed consolidated financial statements for the quarterly period ended June 30, 2026. According to the filing, the company reported a net loss of $9,518,603 for the six months ended June 30, 2026, compared to a net loss of $6,623,460 for the same period in 2025. For the second quarter alone, the company reported net income of $4,786,987, a decrease from net income of $15,924,865 in Q2 2025. Basic and diluted loss per share for the six-month period were both $(0.38), compared to $(0.55) in the prior-year period.

The filing discloses that total assets expanded substantially, reaching $496,816,191 at June 30, 2026, compared to $171,951,227 at December 31, 2025. The filing attributes a large portion of this growth to property and equipment, net, which increased from $52,065,293 to $346,368,297. The company reported transaction costs paid as part of the Dolly Varden acquisition of $7,171,739, as reflected in the cash flow statement. Total liabilities were $165,303,519 at the end of the quarter. The filing also notes a deferred tax liability of $56,281,550 at June 30, 2026, up from $617,353 at December 31, 2025.

The company reported income from its equity investment in Peak Gold, LLC of $22,047,618 for the six months ended June 30, 2026, compared to $49,646,218 in the same prior-year period, and received cash distributions from Peak Gold, LLC of $18,000,000. Cash paid to settle derivative contracts was $50,895,505 for the six months, and a loss on derivative contracts of $8,717,397 was recorded. Exploration expenses increased to $16,099,198 for the first half of 2026 from $1,498,472 in the first half of 2025. General and administrative expenses were $9,125,733 for the six months ended June 30, 2026, compared to $5,562,117 for the same period in 2025.

What Was Disclosed

Contango Silver & Gold's 10-Q for Q2 2026 disclosed a net loss of $9,518,603 for the first half of the year, a major increase in total assets to $496,816,191 following the Dolly Varden acquisition, and 33,440,691 common shares outstanding as of August 13, 2026.