Contango Silver & Gold Inc. filed its Form 10-Q for the quarterly period ended September 30, 2026 with the SEC on November 13, 2026, reporting a net loss of $32,476,914 for the nine months ended September 30, 2026.

Key Highlights

  • Nine-month net loss: The company reported a net loss of $32,476,914 for the nine months ended September 30, 2026, compared to a net loss of $12,016,408 for the same period in 2025.
  • Third-quarter net loss: Net loss for the three months ended September 30, 2026 was $22,958,311, versus $5,392,948 for the three months ended September 30, 2025.
  • Total assets expanded: Total assets grew to $492,800,840 as of September 30, 2026, up from $171,951,227 as of December 31, 2025, primarily driven by mineral property and equipment rising to $369,234,780 from $52,065,293.
  • Derivative contract losses: The company recorded a loss on derivative contracts of $10,746,157 for the nine months ended September 30, 2026, against a loss of $83,656,330 in the prior-year period; cash paid to settle derivative contracts was $97,719,069.
  • Shares outstanding: As of November 13, 2026, common shares outstanding totaled 33,790,119, with an additional 33,007 exchangeable shares outstanding.
  • Loss per share: Basic and diluted loss per share for the nine months ended September 30, 2026 was $(1.17), compared to $(0.99) for the same period in 2025.
  • Stockholders' equity increased: Total stockholders' equity rose to $316,569,571 as of September 30, 2026, from $25,098,289 as of December 31, 2025.

Contango Silver & Gold's Q3 2026 Financial Position and Operating Results

According to the filing, Contango Silver & Gold Inc. (NYSE American:CTGO) reported a net loss of $22,958,311 for the three months ended September 30, 2026, compared with a net loss of $5,392,948 for the same quarter of 2025. For the nine-month period, the net loss widened to $32,476,914 from $12,016,408 in the prior-year period. Exploration expenses were the largest single cost driver, totaling $43,281,953 for the nine months ended September 30, 2026, versus $3,775,735 in the comparable 2025 period. General and administrative expenses for the nine-month period were $13,121,462, compared with $8,050,516 a year earlier.

The filing disclosed that income from the equity investment in Peak Gold, LLC was $28,930,984 for the nine months ended September 30, 2026, down from $79,179,643 for the same period in 2025. A cash distribution from Peak Gold, LLC of $18,000,000 was received during the nine-month period, compared with $87,000,000 in the prior-year period. The loss on derivative contracts for the nine months was $10,746,157, while cash paid to settle derivative contracts amounted to $97,719,069. Net cash used in operating activities for the nine months ended September 30, 2026 was $109,138,932, compared with net cash provided by operating activities of $60,201,002 in the same period of 2025.

On the balance sheet, total assets reached $492,800,840 as of September 30, 2026, versus $171,951,227 at December 31, 2025. Mineral property and equipment, net, accounted for the largest portion of long-term assets at $369,234,780, up substantially from $52,065,293 at year-end 2025. The accumulated deficit stood at $245,635,696 as of September 30, 2026, compared with $213,158,782 at December 31, 2025. The company also reported a deferred tax liability of $55,556,989 as of September 30, 2026, up from $617,353 at December 31, 2025. The company is classified as a non-accelerated filer and smaller reporting company.

What Was Disclosed

Contango Silver & Gold Inc. disclosed unaudited condensed consolidated financial results for the three and nine months ended September 30, 2026, showing a wider net loss year-over-year, a significant increase in total assets driven by mineral property additions, and substantial cash used to settle derivative contracts.