UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

(Amendment No.           )*

Contango ORE, Inc.

(Name of Issuer)

Common Stock

21077F100

January 6, 2011

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

þ Rule 13d-1(b)

o Rule 13d-1(c)

o Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

CUSIP No.		21077F100					Page	2	of	5 pages

Item 1.

	(a)		Name of Issuer      Contango ORE, Inc.
	(b)		Address of Issuer’s Principal Executive Offices 3700 Buffalo Speedway, Suite 960 Houston, Texas 77098

Item 2.

		(a)		Name of Person Filing      International Value Advisers, LLC
		(b)		Address of Principal Business Office or, if none. Residence      645 Madison Avenue, 12th Floor, New York, NY 10022
		(c)		Citizenship      Delaware
		(d)		Title of Class of Securities      Common Stock
		(e)		CUSIP Number      21077F100

Item 3. If this statement is filed pursuant to §§240.13d-l(b) or 240.13d-2(b) or (c), check whether the person filing is a:

		(a)		o		Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).
		(b)		o		Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
		(c)		o		Insurance company as defined in section 3(a)(l9) of the Act (15 U.S.C. 78c).
		(d)		o		Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8).
		(e)		þ		An investment adviser in accordance with §240.l3d-l(b)(l)(ii)(E);
		(f)		o		An employee benefit plan or endowment fund in accordance with §240.13d-l(b)(l )(ii)(F);
		(g)		o		A parent holding company or control person in accordance with § 240.13d-l(b)( l)(ii)(G);
		(h)		o		A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
		(i)		o		A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

Page 3 of 5 pages

		(j)		o		Group, in accordance with §240.l3d-l(b)(I)(ii)(J).

Item 4. Ownership.

     Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

		(a)		Amount beneficially owned: 80,027,473
		(b)		Percent of class: 10.250%
		(c)		Number of shares as to which the person has:

	(i)		Sole power to vote or to direct the vote 164,004
	(ii)		Shared power to vote or to direct the vote 0.
	(iii)		Sole power to dispose or to direct the disposition of 164,004
	(iv)		Shared power to dispose or to direct the disposition of 0.

Instruction. For computations regarding securities which represent a right to acquire an underlying security see §240.l3d-3(d)(l).

Item 5. Ownership of Five Percent or Less of a Class

     If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following o.

Item 6. Ownership of More than Five Percent on Behalf of Another Person.

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company

Item 8. Identification and Classification of Members of the Group

Item 9. Notice of Dissolution of Group

Item 10. Certification

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By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

SIGNATURE

     After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

		February 8, 2011
		Date
		Michael Malafronte
		Signature
		CEO
		Name/Title

Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001)

Page 5 of 5 pages