Contango ORE Inc

CTGO is entrenched in a Stage 4 decline with confirmed lower-high/lower-low structure and downward-sloping EMAs. Price continues to trade below the 9 EMA and 20 EMA, with each rally stalling and rejecting in that zone. The dominant pattern and stage context favor further downside. Execution will sell into rallies at the 9/21 EMA resistance for continuation toward new lows.

• ↑Guides 40–45k oz gold in 2026; targets 75–80k oz by 2027
• ↑Cash rose to $97.5 M post-merger, backing capex and drilling
• ↓Q1 produced 8k oz vs. 10k oz target due to winter issues