<SEC-DOCUMENT>0001157523-15-003276.txt : 20151009
<SEC-HEADER>0001157523-15-003276.hdr.sgml : 20151009
<ACCEPTANCE-DATETIME>20151009165536
ACCESSION NUMBER:		0001157523-15-003276
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20151009
ITEM INFORMATION:		Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review
FILED AS OF DATE:		20151009
DATE AS OF CHANGE:		20151009

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Contango ORE, Inc.
		CENTRAL INDEX KEY:			0001502377
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		IRS NUMBER:				273431051
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35770
		FILM NUMBER:		151153650

	BUSINESS ADDRESS:	
		STREET 1:		3700 BUFFALO SPEEDWAY
		STREET 2:		STE 925
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77098
		BUSINESS PHONE:		713-877-1311

	MAIL ADDRESS:	
		STREET 1:		3700 BUFFALO SPEEDWAY
		STREET 2:		STE 925
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77098
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a51198642.htm
<DESCRIPTION>CONTANGO ORE, INC 8-K
<TEXT>
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    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>SECURITIES
      AND EXCHANGE COMMISSION</b></font><font style="font-family: Times New Roman; font-size: 12pt"><br style="font-size: 12pt; font-family: Times New Roman"></font><font style="font-family: Times New Roman; font-size: 12pt"><b>WASHINGTON,
      D.C. 20549</b></font><font style="font-family: Times New Roman; font-size: 12pt"><br style="font-size: 12pt; font-family: Times New Roman"></font>
    </p>
    <hr style="color: #000000; height: 1.0 pt; width: 10%; text-align: center">


    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>FORM 8-K</b></font><font style="font-family: Times New Roman; font-size: 12pt"><br style="font-size: 12pt; font-family: Times New Roman"></font><font style="font-family: Times New Roman; font-size: 12pt"><br style="font-size: 12pt; font-family: Times New Roman"></font><font style="font-family: Times New Roman; font-size: 12pt"><b>CURRENT
      REPORT</b></font><font style="font-family: Times New Roman; font-size: 12pt"><br style="font-size: 12pt; font-family: Times New Roman"></font><font style="font-family: Times New Roman; font-size: 12pt"><b>PURSUANT
      TO SECTION 13 OR 15(d) OF THE</b></font><font style="font-family: Times New Roman; font-size: 12pt"><br style="font-size: 12pt; font-family: Times New Roman"></font><font style="font-family: Times New Roman; font-size: 11pt"><b>SECURITIES
      EXCHANGE ACT OF 1934</b></font><br><br>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt">Date of
      report (Date of earliest event reported): </font><u><font style="font-family: Times New Roman; font-size: 10pt">October
      9, 2015</font></u><font style="font-family: Times New Roman; font-size: 10pt"><br style="font-size: 10pt; font-family: Times New Roman"></font><br><br>
    </p>
    <div style="text-align:center">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; width: 50%; font-size: 10pt; margin-left:auto;margin-right:auto" cellspacing="0">
      <tr>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            CONTANGO ORE, INC
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 10pt">(Exact Name of Registrant Specified
            in Charter)</font>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: left">

    </p>
    <div style="text-align:center">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; width: 75%; font-size: 10pt; margin-left:auto;margin-right:auto" cellspacing="0">
      <tr>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; width: 26%; border-bottom-color: black; padding-left: 0.0px; text-align: center" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Delaware
          </p>
        </td>
        <td style="padding-bottom: 2.0px; width: 11%; padding-left: 0.0px; text-align: left" valign="top">
          &#160;
        </td>
        <td style="border-bottom-style: solid; white-space: nowrap; border-bottom-width: 1.0pt; padding-right: 0.0px; width: 26%; border-bottom-color: black; padding-left: 0.0px; text-align: center" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            000-54136
          </p>
        </td>
        <td style="padding-bottom: 2.0px; width: 11%; padding-left: 0.0px; text-align: left" valign="top">
          &#160;
        </td>
        <td style="border-bottom-style: solid; white-space: nowrap; border-bottom-width: 1.0pt; padding-right: 0.0px; width: 26%; border-bottom-color: black; padding-left: 0.0px; text-align: center" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            27-3431051
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 26%; padding-left: 0.0px; text-align: center" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (State or Other<br>Jurisdiction of<br>Incorporation)
          </p>
        </td>
        <td style="width: 11%">

        </td>
        <td style="width: 26%; padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Commission File<br>Number)
          </p>
        </td>
        <td style="width: 11%">

        </td>
        <td style="width: 26%; padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (I.R.S. Employer
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            Identification No.)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">

    </p>
    <div style="text-align:center">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; width: 80%; font-size: 10pt; margin-left:auto;margin-right:auto" cellspacing="0">
      <tr>
        <td style="width: 50%; padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            3700 Buffalo Speedway, Suite 925
          </p>
        </td>
        <td style="width: 30%; padding-left: 0.0px; text-align: left" valign="top">
          &#160;
        </td>
        <td style="width: 20%">

        </td>
      </tr>
      <tr>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; width: 50%; border-bottom-color: black; padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Houston, Texas
          </p>
        </td>
        <td style="width: 30%">

        </td>
        <td style="border-bottom-style: solid; white-space: nowrap; border-bottom-width: 1.0pt; padding-right: 0.0px; width: 20%; border-bottom-color: black; padding-left: 0.0px; text-align: center" valign="top">
          77098
        </td>
      </tr>
      <tr>
        <td style="width: 50%; padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Address of Principal Executive Offices)
          </p>
        </td>
        <td style="width: 30%">

        </td>
        <td style="width: 20%; padding-left: 0.0px; text-align: center" valign="top">
          (Zip Code)
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt">Registrant&#8217;s
      telephone number, including area code: &#160;&#160;</font><u>(713)
      -877-1311</u>
    </p>
    <p style="text-align: center">
      <br>

    </p>
    <p>

    </p>
    <div style="text-align:center">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; width: 60%; font-size: 10pt; margin-left:auto;margin-right:auto" cellspacing="0">
      <tr>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black; padding-left: 0.0px; text-align: center" valign="top">
          Not Applicable
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" valign="top">
          (Former Name or Former Address, if Changed Since Last Report)
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <br>
      <br>

    </p>
    <p>
      Check the appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions:
    </p>
    <p style="margin-left: 30.0px; font-size: 10pt">
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p style="margin-left: 30.0px; font-size: 10pt">
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p style="margin-left: 30.0px; font-size: 10pt">
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p style="margin-left: 30.0px; font-size: 10pt">
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <div style="margin-left: 0pt; margin-bottom: 10pt; text-indent: 0pt; margin-right: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="font-family: Times New Roman; font-size: 10pt; text-align: center">
          -1-
        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p>
      <b>Item 4.02 &#160;&#160;NON-RELIANCE ON PREVIOUSLY ISSUED FINANCIAL STATEMENTS</b>
    </p>
    <p style="text-align: justify">
      &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Board of Directors of Contango ORE, Inc.&#8217;s (the &#8220;Company&#8221;)
      at a meeting held on October&#160;9, 2015 concluded that the unaudited
      consolidated financial statements and related footnote disclosures for
      the three and nine month periods ended March&#160;31, 2015 contained in the
      Company&#8217;s Quarterly Report on Form 10-Q for the quarter ended March 31,
      2015 originally filed with the Securities and Exchange Commission on May
      15, 2015 (the &#8220;Original Filing&#8221;) should no longer be relied upon and
      should be restated.&#160;&#160;The Company determined to file an amendment to the
      Original Filing on Form&#160;10-Q/A (&#8220;Form&#160;10-Q/A&#8221;).
    </p>
    <p style="text-align: justify">
      <i>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</i>In
      conjunction with the preparation of the consolidated financial
      statements for the year ended June 30, 2015, the Company determined that
      a different accounting method should have been used to account for Peak
      Gold, LLC (the &#8220;Joint Venture Company&#8221;) and has determined that the
      change in accounting method and related accounting matters is material
      to previously issued unaudited consolidated financial statements for the
      three and nine month periods ended March 31, 2015.&#160;&#160;As a result, these
      statements have been presented on a restated and amended basis in Form
      10-Q/A to be filed with the Commission on or about the date of this
      Current Report on Form 8-K.&#160;&#160;
    </p>
    <p style="text-align: justify">
      &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;On January 8, 2015, the Company and Royal Gold, Inc. (&#8220;Royal
      Gold&#8221;) through their wholly-owned subsidiaries, consummated several
      transactions contemplated under the Master Agreement dated as of
      September 29, 2014, including the formation of the Joint Venture
      Company, to advance exploration of the Company&#8217;s Tetlin properties,
      which are prospective for gold and associated minerals.&#160;&#160;The purpose of
      filing Form 10-Q/A is to change the accounting method used to account
      for the Company&#8217;s investment in the Joint Venture Company.&#160;&#160;At Closing,
      Royal Gold, as an initial contribution to the Joint Venture Company,
      contributed $5 million.&#160;&#160;Royal Gold&#8217;s initial contribution did not
      entitle Royal Gold to a percentage interest in the Joint Venture
      Company.&#160;&#160;Royal Gold also had the right, in its sole discretion, to
      resign from the Company at any time prior to the date that Royal Gold
      contributed in excess of $5 million to the Joint Venture Company.&#160;&#160;On
      March 31, 2015, Royal Gold&#8217;s percentage interest in the Joint Venture
      Company was zero.&#160;&#160;Since inception of the Joint Venture Company, Royal
      Gold has had the right to appoint two of the three members of the
      Management Committee of the Joint Venture Company.&#160;&#160;The Joint Venture
      Company is a variable interest entity since it is dependent on the
      financial support from its members to continue its exploration
      activities.&#160;&#160;The Company is not the primary beneficiary since it does
      not currently have the power to direct the activities of the Joint
      Venture Company.&#160;&#160;The Company previously consolidated the results of
      Peak Gold, LLC; however, the Company concluded that Royal Gold has the
      ability to initially direct and control operations of Peak Gold, LLC,
      and that the Company&#8217;s position on the Joint Venture Company&#8217;s
      Management Committee gives it significant influence but not control;
      therefore, the Company determined that the Joint Venture Company should
      be accounted for under the equity method.&#160;&#160;The Company is restating to
      appropriately reflect the transactions on Form 10-Q/A.&#160;&#160;The assets
      contributed by the Company to the Joint Venture Company were recorded at
      historical cost.&#160;&#160;The changes impacted the financial statements as of
      and for the three and nine months ended March 31, 2015 and not prior
      periods.
    </p>
    <p style="text-align: justify">
      &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;In addition, as part of the Closing, Royal Gold paid the
      Company $750,000 which was utilized to partially reimburse the Company
      for costs and expenses incurred in the transactions.&#160;&#160;This reimbursement
      was recorded as revenue in the Original Filing and has been reclassed to
      a contra expense account in Form 10-Q/A to more appropriately reflect
      the nature of the reimbursement.
    </p>
    <div style="margin-left: 0pt; margin-bottom: 10pt; text-indent: 0pt; margin-right: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="font-family: Times New Roman; font-size: 10pt; text-align: center">
          -2-
        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: justify">
      &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Management has also evaluated the effects of the facts leading
      to the restatement regarding the adequacy of the Company&#8217;s internal
      control over financial reporting as of June 30, 2015 and March 31,
      2015.&#160;&#160;Based on that evaluation, management has concluded that there
      existed a material weakness in the Company&#8217;s internal control over
      financial reporting with respect to complex, nonrecurring transactions.
      As a result of the material weakness, management has concluded that the
      Company&#8217;s internal control over financial reporting was ineffective as
      of June 30, 2015 and March 31, 2015.
    </p>
    <p style="text-align: justify">
      &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Both members of the Audit Committee of the Company (the &#8220;Audit
      Committee&#8221;) and authorized officers of the Company discussed the
      possible restatement of the Original Filing with the Company&#8217;s
      independent accountant, BDO USA, LLP (&#8220;BDO&#8221;) at a meeting held on
      September 22, 2015 and in several meetings and communications thereafter
      until the Board of Directors authorized and approved the filing of Form
      10-Q/A on October 9, 2015.
    </p>
    <div style="margin-left: 0pt; margin-bottom: 10pt; text-indent: 0pt; margin-right: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="font-family: Times New Roman; font-size: 10pt; text-align: center">
          -3-
        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: justify">

    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt"><b>SIGNATURE</b></font>
    </p>
    <p style="text-align: justify">
      &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Pursuant to the requirements of the Securities Exchange Act of
      1934, the registrant has duly caused this report to be signed on its
      behalf by the undersigned hereunto duly authorized.
    </p>
<div style="text-align:left">
    <table style="font-family: Times New Roman; margin-bottom: 10.0px; width: 100%; font-size: 10pt" cellspacing="0">
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>CONTANGO ORE, Inc.</b>
          </p>
        </td>
        <td style="width: 20%">

        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 27%; padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="width: 20%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; width: 6%; padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-bottom: 2.0px; width: 44%; padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-bottom: 2.0px; width: 3%; padding-left: 0.0px; text-align: left" valign="top">
          By:
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; width: 27%; border-bottom-color: black; padding-left: 10.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            /s/ Leah Gaines
          </p>
        </td>
        <td style="width: 20%">

        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Name: Leah Gaines
          </p>
        </td>
        <td style="width: 20%">

        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="3" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Title: Vice President and Chief Financial Officer
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 27%; padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="width: 20%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 27%; padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="width: 20%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 27%; padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 20%">

        </td>
      </tr>
      <tr>
        <td style="width: 6%; padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Dated:
          </p>
        </td>
        <td style="width: 44%; padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            October 9, 2015
          </p>
        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 27%">

        </td>
        <td style="width: 20%">

        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      -4-
    </p>
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