CTGOMEDIUM SIGNALFINANCIAL10-K

CTGO significantly reduced its debt burden by roughly half while expanding its asset base and increasing share count by approximately 37%.

The substantial debt reduction from $69.0M to $33.9M suggests improved financial flexibility and reduced leverage risk, which is particularly important for a mining company facing commodity price volatility. The increase in outstanding shares from 12.2M to 16.8M indicates potential equity financing activity, which may have funded the debt paydown and contributed to asset growth.

Comparing 2026-03-16 vs 2025-03-17View on EDGAR →
FINANCIAL ANALYSIS

CTGO's balance sheet shows meaningful deleveraging with debt declining by roughly half to $33.9M, while total assets grew notably to $172.0M. The company's share count increased substantially, suggesting equity financing may have facilitated the debt reduction. Despite higher liabilities overall (+10.7%), the improved debt profile and expanded asset base indicate a strengthened financial position, though the equity dilution merits monitoring by existing shareholders.

FINANCIAL STATEMENT CHANGES
Total Debt
Balance Sheet
-50.9%
$69.0M→$33.9M

Debt reduced 50.9% — deleveraging strengthens balance sheet and reduces financial risk.

Total Assets
Balance Sheet
+28.4%
$133.9M→$172.0M

Asset base grew 28.4% — expansion through organic growth, acquisitions, or capital deployment.

Total Liabilities
Balance Sheet
+10.7%
$132.6M→$146.9M

Liabilities increased 10.7% — monitor debt-to-equity ratio and interest coverage.

LANGUAGE CHANGES
NEW — 2026-03-16
PRIOR — 2025-03-17
ADDED
As of March 16, 202 6, there were 16,821,321 shares of the registrant s common stock outstanding.
Any statement that is not a historical fact is a forward-looking statement.
These forward-looking statements involve known and unknown risks, uncertainties and other factors, many of which are outside of our control, that may cause the Company s actual results, performance or achievements to be materially different from future results expressed or implied by the forward-looking statements.
All forward-looking statements included herein are expressly qualified in their entirety by the cautionary statements contained or referred to in this section.
KG Mining now holds a 70% membership interest in the Peak Gold JV and KG Mining serves as the manager of the Peak Gold JV, which operates the Manh Choh (as defined below) mines.
For a more detailed description of our properties, including mineral reserves and resources, property locations, and exploration activities, see Item 2.
2025 Developments During fiscal 2025, the Manh Choh Project, operated through the Peak Gold JV in which the Company holds a 30% interest, continued commercial production.
The Company received $102.0 million in cash distributions from the Peak Gold JV during fiscal 2025 related to production at Manh Choh.
On September 25, 2025, the Company completed an underwritten public offering of common stock and pre-funded warrants, receiving gross proceeds of approximately $50.0 million.
For additional information regarding this offering, see Note 7 Stockholders Equity to the consolidated financial statements included in Item 8 of this Form 10-K and Liquidity and Capital Resources in Item 7 of this Form 10-K.
REMOVED
As of March 14, 202 5, there were 12,248,487 shares of the registrant s common stock outstanding.
These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company s actual results, performance or achievements to be materially different from future results expressed or implied by the forward-looking statements.
KG Mining now holds a 70.0% membership interest in the Peak Gold JV and Kinross serves as the manager of the Peak Gold JV and operator of the Manh Choh (as defined below) mines.
As of December 31, 2024, the Company s directors and executives beneficially owned approximately 13.0% of the Company s common stock.
The acquisitions may include leases or similar rights from Alaska Native corporations and/or Tribes may include filing Federal or State of Alaska mining claims by staking claims for exploration.
Employees As of the date of this report, the Company has twelve full-time employees.
The Peak Gold JV is managed by Kinross and all permanent positions are filled with Kinross employees seconded over to the Peak Gold JV.
On September 17, 2024, the Company announced the receipt of a $19.5 million cash distribution from the Peak Gold JV relating to production at Manh Choh.
The Company received two additional cash distributions totaling $21.0 million in the fourth quarter of 2024.
The Company made a repayment of $13.8 million on the Facility in January 2025.
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