🟢 Contango ORE is trading 5.3% up today after terminating gold hedge obligations for full price exposure

Contango ORE is trading at $16.54 (5.3% up) after announcing an amendment to its credit facility to fully terminate its remaining gold hedge agreements.

• The company added approximately $33M in term debt to settle the obligations, a move designed to give the company full exposure to future gold price fluctuations.
• The capital structure adjustment follows a July 8 announcement, shifting the company's strategy toward unhedged production.
• The gain appears driven by this company-specific decision, as broader market and cryptocurrency movements remain relatively modest today.