# “You Can Buy $CTGO at Just Three Times Next Year’s Free Cash Flow” – Contango’s Shawn Khunkhun

Page: https://stenobird.com/podcast/mining-stock-education-633206/you-can-buy-ctgo-at-just-three-times-next-year-s-free-cash-flow-contango-s-shawn-khunkhun
Text version: https://stenobird.com/podcast/mining-stock-education-633206/you-can-buy-ctgo-at-just-three-times-next-year-s-free-cash-flow-contango-s-shawn-khunkhun.md
Podcast: [Mining Stock Education](https://stenobird.com/podcast/mining-stock-education-633206)
Published: 2026-07-17T13:18:49+00:00
Episode link: https://soundcloud.com/miningstockeducation/you-can-buy-ctgo-at-just-three
Audio file: https://feeds.soundcloud.com/stream/2362740767-miningstockeducation-you-can-buy-ctgo-at-just-three.mp3
Processing state: not_requested
JSON: https://stenobird.com/v1/public/podcasts/mining-stock-education-633206/episodes/you-can-buy-ctgo-at-just-three-times-next-year-s-free-cash-flow-contango-s-shawn-khunkhun
Duration seconds: 1293

## Resource

Contango Silver & Gold president Shawn Khunkhun discusses why CTGO shares are down ~50% since January and how this presents investors with a buying opportunity. The company’s current valuation is just three times next year’s expected free cash flow, he shared. He explains the key catalysts investors are waiting for, why and how the company eliminated its hedge book. He outlines the DSO model shipping ore to Kinross’s Fort Knox mill and how Contango is reinvesting cash flow into Lucky Shot drilling, Johnson Tract infrastructure/permitting, and a 40,000m Kitsault Valley drill program. He states that a mill acquisition is being targeted for longer-term needs. 00:00 Intro 00:33 Why Shares Are Down 01:05 Catalysts from Mahn Choh 01:54 Kitsault Resource Update 02:24 Lucky Shot Path to Production 03:06 Hedge Book Removed 04:38 Debt and Cash Position 05:53 DSO Model and Growth Plan 07:28 Lucky Shot Drilling Progress 08:38 Johnson Tract Buildout 09:11 Kitsault Exploration Strategy 09:55 Management Versus Geology 11:52 What the Market Rewards 13:33 No Dividends Near Term 14:15 Mill Acquisition Strategy 15:29 Jurisdiction And M&A Focus 17:07 Re-Rating and Share Structure https://contangoore.com/ NYSE & TSX: $CTGO Sign up for our free newsletter and receive interview transcripts, stock profiles and investment ideas: http://eepurl.com/cHxJ39 Sponsor Contango pays MSE a United States dollar seven thousand per month coverage fee. The forward-looking statement disclaimer found in Contango’s most-recent company slide deck found at www.ContangoOre.com applies to everything discussed in this interview. Mining Stock Education (MSE) offers informational content based on available data but it does not constitute investment, tax, or legal advice. It may not be appropriate for all situations…

## Actions

- request_transcript: `POST https://stenobird.com/v1/public/podcasts/mining-stock-education-633206/episodes/you-can-buy-ctgo-at-just-three-times-next-year-s-free-cash-flow-contango-s-shawn-khunkhun/transcription-requests` — Idempotently request low-priority transcript generation for this episode.
- read_markdown: `GET https://stenobird.com/podcast/mining-stock-education-633206/you-can-buy-ctgo-at-just-three-times-next-year-s-free-cash-flow-contango-s-shawn-khunkhun.md` — Read the agent-friendly Markdown representation of this episode resource.

A page view does not enqueue transcription. Agents should invoke `request_transcript` explicitly when they need this episode processed.

## Transcript

Full transcripts are not published on public pages unless there is a clear rights basis.