Project 34 statements
The deposit 26
Key takeaway. Management describes Contango Silver & Gold as a high-grade primary silver asset.
Read the full summary
In May 2026 the company reported resources of about 1.1 million ounces of gold and roughly 10 g per ton, with annual production targets of 5 million ounces of silver, 200,000 ounces of gold, 100,000 ounces a year, and 60,000 ounces a year. By July 2026, management had updated the resource to 65 million ounces of silver and 90 ounces of gold, and noted exploration upside through the KM discovery at Lucky Shot and continued new discovery success, supported by 200,000 metres of drilling.
What was actually said
exploration upside
KM discovery at Lucky Shot; new discovery success continuing
“That yielded a new discovery. I I took a quick look at your screen. So, that that yielded a new discovery. So, we got the KM discovery.”
Shawn Khunkhun·
09 Jul 2026·
resource size
65 million ounces of silver, 90 ounces of gold
“We assembled the land position, five past producing silver mines. We did a lot of drilling. We built up a large resource, 65 million ounces of silver, 90 ounces of gold.”
Shawn Khunkhun·
09 Jul 2026·
deposit type
high-grade open-pit gold mine
“In Alaska, there is an exceptionally high-grade open-pit gold mine called Mancho, and that is our producing asset.”
Shawn Khunkhun·
20 May 2026·
Show the other 23 statements
deposit type
high-grade primary silver asset
“What's unique about Dolly and you know this and a lot of your viewers know it, but I'll state it for anyone new is it's a high-grade primary silver asset in very very safe jurisdiction in BC's Golden Triangle.”
Shawn Khunkhun·
20 May 2026·
exploration upside
200,000 m of drilling
“we're looking to incorporate 200,000 m of drilling.”
Shawn Khunkhun·
20 May 2026·
grade
roughly 10 g per ton
“Johnson track project was which is the third project in Alaska, another high-grade gold project which is about 1.1 million ounces of gold at roughly 10 g per ton.”
Shawn Khunkhun·
20 May 2026·
resource size
1.1 million ounces of gold
“Johnson track project was which is the third project in Alaska, another high-grade gold project which is about 1.1 million ounces of gold at roughly 10 g per ton.”
Shawn Khunkhun·
20 May 2026·
resource size
100,000 oz a year
“it'll go on to produce about 100,000 oz a year for at least a decade.”
Shawn Khunkhun·
20 May 2026·
resource size
60,000 oz a year
“It's producing, on average, life of mine, 60,000 oz a year.”
Shawn Khunkhun·
20 May 2026·
resource size
60,000 oz or 30%
“Our uh contribution to that is is 60,000 oz or 30%.”
Shawn Khunkhun·
20 May 2026·
resource size
200,000 oz on an annual basis
“Kinross gets 70% of total production, which is 200,000 oz on an annual basis.”
Shawn Khunkhun·
20 May 2026·
resource size
200,000 oz annually of gold
“Contango silver and gold will be a 5 million oz a year silver producer which also produces 200,000 oz annually of gold.”
Shawn Khunkhun·
20 May 2026·
resource size
5 million oz a year of silver
“This is an asset that'll contribute to the production profile about 5 million oz a year of silver.”
Shawn Khunkhun·
20 May 2026·
resource size
100,000 oz a year from Lucky Shot plus Mancho production
“taking our production profile from the current 60,000 oz to 100,000 oz.”
Shawn Khunkhun·
20 May 2026·
resource size
about 100,000 oz a year
“it'll go on to produce about 100,000 oz a year for at least a decade.”
Shawn Khunkhun·
20 May 2026·
deposit type
High-grade gold, past producing permitted mine at Lucky Shot in Alaska
“permitted past producing high-grade gold mine in Alaska.”
Shawn Khunkhun·
13 May 2026·
deposit type
silver rich ore with gold and other byproducts at Kitsalt Valley; predominantly gold with critical minerals at Johnson Track
“In the case of the Kitsalt Valley, it's silver rich ore with with gold and other byproducts. In the case of Johnson track, it's a it's predominantly gold, but there's some critical minerals”
Shawn Khunkhun·
13 May 2026·
grade
40 grams per ton average production grade at Lucky Shot; 14 grams per ton current resource grade
“The production grades averaged about 40 grams per ton. The current resource grade is about 14 grams per ton.”
Shawn Khunkhun·
13 May 2026·
resource size
half a million ounce resource at Lucky Shot
“the goal there, Steve, is over the next two seasons, drill out a half a million ounce resource”
Shawn Khunkhun·
13 May 2026·
exploration upside
new discovery in the KM vein where cut 60 g of gold over 5 m
“That has uh generated a new discovery in the KM vein where we cut 60 g of gold over 5 m.”
Shawn Khunkhun·
13 Mar 2026·
exploration upside
50% conversion of gold from inferred to measured and indicated
“the focus had been converting um inferred ounces into measured and indicated ounces. So the guidance I've given there is we're we're hoping to achieve about a 50% conversion.”
Shawn Khunkhun·
13 Mar 2026·
exploration upside
about a 50% increase to the silver inventory, targeting about 100 million ounces of pure silver
“the guidance I've given is uh for about a 50% increase to the silver inventory. Um so I think, you know, the number that we're really pushing for is 100 million ounces of pure silver.”
Shawn Khunkhun·
13 Mar 2026·
exploration upside
50% increase in gold grade
“So the guidance we're giving there is we're hoping for a 50% increase in grade.”
Shawn Khunkhun·
13 Mar 2026·
grade
gold grade in inferred category is about 4.5 g per ton, in M&I category is about 7 g per ton
“the grade uh it which in the inferred category is about 4.5 g per ton, whereas in the M&I category it's about 7 g per ton.”
Shawn Khunkhun·
13 Mar 2026·
resource size
about 64 million oz of silver
“Dolly Varden um has about 64 million oz of silver uh between uh the deposits in both the measured, indicated, and inferred category.”
Shawn Khunkhun·
13 Mar 2026·
resource size
about a million ounces of gold
“Um we also have about a million ounces of gold and the guidance I've given is uh for about a 50% increase to the silver inventory.”
Shawn Khunkhun·
13 Mar 2026·
Jurisdiction 7
Key takeaway. Management highlights that the company's projects are located in Canada and the US (May 2026), specifically within BC's Golden Triangle and Alaska (May 2026).
Read the full summary
In a later interview (Jul 2026), the company references BC's "prolific Golden Triangle," including Lucky Shot and the Kitsault Valley.
What was actually said
region
BC's prolific Golden Triangle, Lucky Shot, Kitsault Valley
“Dolly Varden Silver was a silver explorer in BC's prolific Golden Triangle. Also drilling Lucky Shot and Kitsault Valley.”
Shawn Khunkhun·
09 Jul 2026·
country
Canada and the US
“We're focused in Canada and the US, and we're specifically focused on projects that fit the DSO model, the direct shipping or model.”
Shawn Khunkhun·
20 May 2026·
region
BC's Golden Triangle
“it's a high-grade primary silver asset in very very safe jurisdiction in BC's Golden Triangle.”
Shawn Khunkhun·
20 May 2026·
Show the other 4 statements
region
Alaska
“So, in Alaska, there is an exceptionally high-grade open-pit gold mine called Mancho, and that is our producing asset.”
Shawn Khunkhun·
20 May 2026·
region
Alaska; BC's Golden Triangle
“In Alaska, there is an exceptionally high-grade open-pit gold mine called Mancho... it's a high-grade primary silver asset in very very safe jurisdiction in BC's Golden Triangle.”
Shawn Khunkhun·
20 May 2026·
country
Alaska and British Columbia
“projects in both Alaska and British Columbia.”
Shawn Khunkhun·
13 May 2026·
permit status
Johnson Tract project is on the fast 41 permitting
“the Johnson Tract project is on the fast 41 uh permitting.”
Shawn Khunkhun·
13 Mar 2026·
Technical risk 1
What was actually said
key assumption
direct shipping ore model - high-grade deposits shipped to underutilized processing facilities
“we're employing a direct shipping or model. So, we're not building processing facilities and permitting tailings.”
Shawn Khunkhun·
09 Jul 2026·
Economics 35 statements
Economics 19
Key takeaway. Contango Silver & Gold's management has outlined project economics for their mining project with varying figures.
Read the full summary
In May 2026, the company reported an NPV (apparently undiscounted and un-taxed) of $615 million, a payback period of about 7 months, an operating cost of $7 million spend, and conflicting capex numbers of $37 million US and $50 million over 2 years. In July 2026, management mentioned potential to make $200 million of free cash flow in 2027, and an all-in sustaining cost (AISC) of 12 to 1,300 (the latter figure appears to be an outlier or possible typo).
What was actually said
aisc
12 to 1,300
“we're going to produce anywhere between 75 and 80,000 oz at an AISC from 12 to 1,300”
Shawn Khunkhun·
09 Jul 2026·
price assumption
potential to make $200 million of free cash flow in 2027
“We have the potential to make $200 million of free cash flow next year.”
Shawn Khunkhun·
09 Jul 2026·
capex
$50 million investment over 2 years
“With a $50 million investment over 2 years, we will turn the Lucky Shot back into production by 2028.”
Shawn Khunkhun·
20 May 2026·
Show the other 16 statements
capex
$37 million US
“Um that's Canadian. It was about $37 million US was the acquisition of High Gold.”
Shawn Khunkhun·
20 May 2026·
capex
$50 million over 2 years
“with a $50 million investment over 2 years, we will turn the Lucky Shot back into production by 2028.”
Shawn Khunkhun·
20 May 2026·
npv
$615 million
“With a $7 million spend, a economic study was produced highlighting a $615 million net present value.”
Shawn Khunkhun·
20 May 2026·
npv
$615 million net present value
“With a $7 million spend, a economic study was produced highlighting a $615 million net present value.”
Shawn Khunkhun·
20 May 2026·
operating cost
about $250 million using a conservative gold price
“When I look at next year, you you know, using a conservative gold price, we're we're going to make about $250 million.”
Shawn Khunkhun·
20 May 2026·
operating cost
producing on average, life of mine, 60,000 oz a year
“It's producing, on average, life of mine, 60,000 oz a year.”
Shawn Khunkhun·
20 May 2026·
operating cost
$7 million spend
“With a $7 million spend, a economic study was produced highlighting a $615 million net present value.”
Shawn Khunkhun·
20 May 2026·
operating cost
about $100 million of free cash flow
“It's generating, on average, about $100 million of free cash flow.”
Shawn Khunkhun·
20 May 2026·
payback
about 7 months
“That is a project that it it'll pay itself back in about 7 months.”
Shawn Khunkhun·
20 May 2026·
capex
$50 million investment at Lucky Shot over two-year period
“it's a $50 million investment. Now, the company today, Contango Silver and Gold, we have $100 million in the bank”
Shawn Khunkhun·
13 May 2026·
capex
$200 million capex at Johnson Track
“with only a $200 million capex.”
Shawn Khunkhun·
13 May 2026·
npv
$615 million US NPV at Johnson Track
“that's a $615 million US NPV with less than a year payback with only a $200 million capex.”
Shawn Khunkhun·
13 May 2026·
payback
less than a year payback at Johnson Track
“with less than a year payback with only a $200 million capex.”
Shawn Khunkhun·
13 May 2026·
capex
exploration spend will be paid for through existing cash on hand
“it's all going to be paid for through the existing cash we have on hand.”
Shawn Khunkhun·
13 Mar 2026·
capex
$50 million exploration budget
“we've got a $50 million exploration budget.”
Shawn Khunkhun·
13 Mar 2026·
npv
could see 2027 see a quarter billion dollars US of free cash flow, up to 250 million dollars of free cash flow
“you could see 2027 in the combined new company, see a quarter billion dollars US of free cash flow.”
Shawn Khunkhun·
13 Mar 2026·
Financing 16
Key takeaway. Management has given conflicting statements about the company's financing needs.
Read the full summary
In May 2026, the company said it is self-funded, with $250 million on hand and a $102 million distribution in 2025, and that no dilution is planned. However, one statement from July 2026—though also attributed to management—says $60 million into the projects, 67 and a half million" in capital is needed, which appears to contradict the self-funded claim and the earlier cash figures.
What was actually said
capital needed
$60 million into the projects, 67 and a half million
“we're putting $60 million into the projects, 67 and a half million”
Shawn Khunkhun·
09 Jul 2026·
capital needed
$102 million distribution in 2025
“We got a $102 million distribution in 2025.”
Shawn Khunkhun·
20 May 2026·
capital needed
self-funded
“we're self-funded. So, all the plans that we have of taking the Lucky Shot into production and Johnson Track and Kitsault Valley, it's all sequenced in a way where we don't need to go back to market.”
Shawn Khunkhun·
20 May 2026·
Show the other 13 statements
capital needed
self-funded; no need to go back to market
“We're self-funded. So, all the plans that we have of taking the Lucky Shot into production and Johnson Track and Kitsault Valley, it's all sequenced in a way where we don't need to go back to market.”
Shawn Khunkhun·
20 May 2026·
cash position
$102 million distribution in 2025
“We got a $102 million distribution in 2025.”
Shawn Khunkhun·
20 May 2026·
cash position
$100 million in the bank
“Um we've got about $100 million in the bank.”
Shawn Khunkhun·
20 May 2026·
cash position
$250 million
“When I look at next year, you you know, using a conservative gold price, we're we're going to make about $250 million.”
Shawn Khunkhun·
20 May 2026·
cash position
about $100 million in the bank
“Um we've got about $100 million in the bank.”
Shawn Khunkhun·
20 May 2026·
dilution
no dilution planned
“we don't plan on any dilution to achieve the goals to get to 5 million oz of silver production and 200,000 oz of gold production.”
Shawn Khunkhun·
20 May 2026·
burn rate
$12 million from free cash flow last year; about $200 million next year in free cash flow
“last year um we had about $12 million from free cash flow and next year looks like it's going to be about a $200 million year in free cash flow.”
Shawn Khunkhun·
13 May 2026·
burn rate
about $100 million free cash flow on average
“We're generating on average about $100 million free cash flow.”
Shawn Khunkhun·
13 May 2026·
capital needed
$50 million exploration budget this year
“what we're looking at here is we're looking at this year about a $50 million exploration budget”
Shawn Khunkhun·
13 May 2026·
cash position
about $100 million in the bank
“We've got a good treasury. We've got about $100 million in the bank.”
Shawn Khunkhun·
13 May 2026·
cash position
$14.5 million in debt
“$14.5 million in debt.”
Shawn Khunkhun·
13 Mar 2026·
cash position
about $100 million in cash flow from producing mine in Alaska
“We've got about $100 million of cash on hand, and we're generating about $100 million from the uh the producing mine up in Alaska.”
Shawn Khunkhun·
13 Mar 2026·
cash position
about $100 million of cash on hand
“We've got about $100 million of cash on hand, and we're generating about $100 million from the uh the producing mine up in Alaska.”
Shawn Khunkhun·
13 Mar 2026·
Timeline 17 statements
Timeline 16
Key takeaway. Management has given conflicting timelines for the project.
Read the full summary
In May 2026, the company said a study was due in June and that first production would come in 2028 and also in 2030. By July 2026, the study was due in July, about 40,000 m of drilling was planned with 20,000 m already completed, and first production was described as about 3 years out.
What was actually said
first production
about 3 years out
“Once we start producing from the silver project, which is about 3 years out, we'll then get valued as a silver producer”
Shawn Khunkhun·
09 Jul 2026·
milestone
40,000 m of drilling planned; 20,000 m drilled
“Uh so, you guys also got 40,000 m of drilling planned here. So, what I can say is we've drilled 20,000 m.”
Shawn Khunkhun·
09 Jul 2026·
study due
July
“So, the report's coming this month, in July.”
Shawn Khunkhun·
09 Jul 2026·
Show the other 13 statements
first production
Dolly Varden scheduled to come online in 2030
“Scheduled to come online in 2030.”
Shawn Khunkhun·
20 May 2026·
first production
2028
“we will turn the Lucky Shot back into production by 2028.”
Shawn Khunkhun·
20 May 2026·
first production
Lucky Shot back into production by 2028
“With a $50 million investment over 2 years, we will turn the Lucky Shot back into production by 2028.”
Shawn Khunkhun·
20 May 2026·
first production
2030
“Scheduled to come online in 2030.”
Shawn Khunkhun·
20 May 2026·
milestone
Dolly Varden new mineral resource estimate scheduled to come out in June
“There is a new mineral resource estimate that's scheduled to come out in June.”
Shawn Khunkhun·
20 May 2026·
study due
June
“There is a new mineral resource estimate that's scheduled to come out in June.”
Shawn Khunkhun·
20 May 2026·
first production
2028 at Lucky Shot
“That'll bring Lucky Shot into production in 2028, which will start generating an additional $100 million of free cash flow.”
Shawn Khunkhun·
13 May 2026·
first production
currently 60,000 ounces per year of gold; 100,000 ounces by 2028; 200,000 ounces of gold and 5 million ounces of silver by 2030
“the company right now is producing on average about 60,000 ounces a year of gold. Um however by 2028 we're forecasting 100,000 ounces of production and by 2030 we're looking to do 200,000 ounces of gold production and 5 million ounces of silver.”
Shawn Khunkhun·
13 May 2026·
milestone
new discovery at Lucky Shot in February; drill results recently released
“we just had some drill results out from Lucky Shot recently. We we tagged a new discovery in in February.”
Shawn Khunkhun·
13 May 2026·
first production
Lucky Shot permitted high-grade past producing gold mine scheduled to go back into production by 2028
“which is a permitted high-grade past producing gold mine scheduled to go back into production by 2028.”
Shawn Khunkhun·
13 Mar 2026·
milestone
merger expected to be officially complete by 26th
“um we suspect that by the 26th the merger will be officially complete.”
Shawn Khunkhun·
13 Mar 2026·
milestone
about a 20,000 m drill program at Lucky Shot ongoing
“We're in the midst of about a 20,000 m drill program at Lucky Shot.”
Shawn Khunkhun·
13 Mar 2026·
milestone
50,000 m drill program at Kitsault Valley project to be initiated with new resource estimate incorporating about 190,000 m of drilling
“there's a 50,000 m drill program. Um and that drill program will be initiated just as a a new resource estimate that is going to be incorporating about 190,000 m of drilling.”
Shawn Khunkhun·
13 Mar 2026·
Catalysts 1
What was actually said
upcoming result
new mineral resource estimate
“There is a new mineral resource estimate that's scheduled to come out in June.”
Shawn Khunkhun·
20 May 2026·
Corporate 13 statements
Management 4
Key takeaway. Management notes that Mike Sinnamon, recently named the new CEO of B2Gold, serves on the board of Contango Silver and Gold as of March 2026.
Read the full summary
The company also reports that 50% of the 33 million outstanding shares are held by management, strategic investors and institutions.
What was actually said
track record
Rob Van Egmond is vice president of Canadian operations
“Rob Van Egmond is um our our vice president of our Canadian operations. So, he's doing exactly what he was doing for Dolly Varden.”
Shawn Khunkhun·
09 Jul 2026·
track record
brought capital and marketing to undervalued opportunities, raised about $3 billion, seen assets revalued
“What I've done is I've brought capital uh and uh marketing uh to undervalued opportunities, shed a light on them, and have transacted on M&A deals, raised about $3 billion along the process, and uh have seen a lot of assets revalued under my leadership.”
Shawn Khunkhun·
20 May 2026·
insider ownership
50% of 33 million shares in hands of management, strategics and institutions
“with 50% of that in the hands of management, uh strategics and institutions, that leaves 15 million shares in the hands of the public”
Shawn Khunkhun·
13 Mar 2026·
Show the other 1 statement
team experience
Mike Sinnamon, recently named new CEO of B2Gold, is on the board
“Mike Sinnamon, who was recently named the new CEO of B2Gold, is on the board.”
Shawn Khunkhun·
13 Mar 2026·
Market 4
Key takeaway. Contango Silver & Gold's management stated that high-grade projects place them well on the cost curve.
Read the full summary
Additionally, management noted that Kinross is a potential acquirer of the company.
What was actually said
cost curve position
high-grade projects focused on direct shipping model
“We're focused on high-grade projects. We're focused in Canada and the US, and we're specifically focused on projects that fit the DSO model, the direct shipping or model.”
Shawn Khunkhun·
20 May 2026·
cost curve position
high-grade projects
“We're focused on high-grade projects.”
Shawn Khunkhun·
20 May 2026·
potential acquirer
Kinross
“Kinross is our partner.”
Shawn Khunkhun·
20 May 2026·
Show the other 1 statement
potential acquirer
modeled about $50 million of buying from ETFs and indexes
“we've uh modeled about $50 million of buying from the ETFs and indexes.”
Shawn Khunkhun·
13 Mar 2026·
Sources 11 interviews
Every interview 11
| Date | Channel | Interview | Statements |
|---|---|---|---|
| 19 Jul 2026 | Investing News | Silver, Gold in Pre-Mania Phase, What Comes Next | Contango's Shawn Khunkhun | No claims identified |
| 17 Jul 2026 | MiningStockEducation.com | “You Can Buy $CTGO at Just Three Times Next Year’s Free Cash Flow” – Contango’s Shawn Khunkhun | No claims identified |
| 09 Jul 2026 | The Deep Dive | Why Silver and Gold Are Headed Back to All-Time Highs | Shawn Khunkhun - Contango Silver & Gold | 11 |
| 04 Jun 2026 | Natural Resource Stocks | Contango’s Cash Flow Is Funding A Major Drill Push | No claims identified |
| 20 May 2026 | Rule Investment Media | Shawn Khunkhun, President of Contango Silver & Gold | Rule Symposium 2026: Rick Rule interviews | 49 |
| 19 May 2026 | MiningStockEducation.com | “Eighty Thousand Ounces of Gold Production in 2027” projects Contango’s CEO Rick Van Nieuwenhuyse | No claims identified |
| 13 May 2026 | The Deep Dive | Gold and Silver May Be Ready for Another Run | Shawn Khunkhun - Contango Silver & Gold | 17 |
| 24 Apr 2026 | Liberty and Finance | Silver SHORTAGE Meets $100M/Year Cash Flow - Perfect Storm for Investors? | No claims identified |
| 05 Apr 2026 | David Lin | Brink Of Another Major Crash? What Everyone Gets Wrong About Gold, Silver | No claims identified |
| 13 Mar 2026 | MiningStockEducation.com | “There’s a Catch-Up Trade Coming for Contango Silver and Gold Post Merger” says Shawn Khunkhun | 22 |
| 17 Dec 2025 | The Deep Dive | The Paper Price Is Finally Being Forced To Match Physical Silver | Shawn & Rick [Merger] | No claims identified |
What else those interviews covered
Every other asset named in the same recordings, by how many of them named it — the company's coverage context, not its holdings. Where the name is another company we hold a record for, it links to it.
Questions people ask
What is Contango Silver & Gold's project and where is it?
Contango Silver & Gold is a producer silver company, with a project stated to be in Alaska, United States. Everything here is drawn from its executives' own interviews.
Which interviews mention Contango Silver & Gold?
We track 11 interviews mentioning Contango Silver & Gold, across 7 channels (David Lin, Investing News, Liberty and Finance, MiningStockEducation.com, Natural Resource Stocks, Rule Investment Media…).
What are investors saying about Contango Silver & Gold?
No independent commentary is on record yet — so far the page carries only the company's own voice.
What do recent interviews with Contango Silver & Gold cover?
The most-discussed topics on record are the deposit, economics, financing, timeline — each claim quoted and dated in the sections above.