Contango Silver & Gold Inc.

AI-generated fair value estimate for this company.

Method: 7-year finite-mine-life DCF with no terminal value (reflecting a depleting ore body): modeled on Contango's 30%-attributable cash distributions from the Manh Choh JV using company 2026 guidance ($48-54M, midpoint $51M) and 2027 guidance ($165-175M, midpoint $170M), tapering 15%/year for 2028-2032 as the ~1.3M oz M&I JV gold resource (~390,000 oz attributable) depletes; 12% discount rate (mining/commodity/operational risk); plus $50.2M current net cash; 33.19M shares outstanding.

Reasoning: Contango ORE is a non-operating 30% partner in a single, finite-life gold mine rather than a going-concern business with perpetual cash flows, so a reserve-depletion DCF with no terminal value, anchored to the company's own multi-year production/distribution guidance, is more appropriate than a standard perpetuity DCF, which would overstate value by implying indefinite production from a fixed ore body.