In this KE Report update, we speak with Rick Van Nieuwenhuyse, President & CEO of Contango ORE (NYSE American: CTGO), and Shawn Khunkhun, President & CEO of Dolly Varden Silver (NYSE American: DVS, TSX-V: DV), to outline the strategic merger creating a new high-grade gold–silver producer. Why the merger works Contango brings strong cash flow (≈US$100M/yr) from the Mahn Choh DSO operation with Kinross, while Dolly Varden contributes a high-grade silver–gold portfolio in BC’s Golden Triangle. Development pipeline Lucky Shot remains next in line for production using the DSO model, followed by the high-grade Johnson Tract project. Dolly Varden’s Wolf, Homestake, and broader Kitsault Valley assets gain funding and technical depth to accelerate exploration. DSO strategy advantages High grade, small footprint, no mill or tailings required, and access to existing underutilized processing facilities support a scalable, low-capex production approach. Valuation opportunity The combined entity is expected to begin around 0.5x NAV, with potential re-rating as size, liquidity, cash flow, and index inclusion improve. Also please share your thoughts on the merger in the comments or email Shad and I at
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[email protected] . --------------- For more market commentary & interview summaries, subscribe to our Substacks: The KE Report: https://kereport.substack.com/ Shad’s resource market commentary: https://excelsiorprosperity.substack.com/ Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.
