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Montage Gold Corp. reports developments tied to its gold development and exploration portfolio in Côte d’Ivoire. News centers on the flagship Koné project, including mineral resource estimates for the Koné and Gbongogo Main deposits, grade-control results, satellite-deposit exploration, and construction progress.
Company updates also cover portfolio expansion following the completed acquisition of African Gold Limited, which added the resource-stage Didievi project and made African Gold a wholly owned subsidiary. Other recurring items include material agreements, shareholder voting matters, capital-structure disclosures, governance matters, and operating and financial results.
Montage Gold Corp. (MAUTF) has announced a strategic partnership with Aurum Resources, strengthening its position along the Boundiali greenstone belt in Côte d'Ivoire. Montage will acquire a 9.9% stake in Aurum through the issuance of 2.89 million common shares, valued at approximately C$10.4 million. The investment aligns Montage with other strategic investors, including Zhaojin Mining and the Lundin Family, who will each hold 9.9% interests in Aurum.
Aurum owns the Boundiali gold project, located adjacent to Montage's Koné project, and the Napié gold project. The Boundiali project currently has an Inferred Resource of 1.59 million ounces of gold and is undergoing a 100,000-meter drill program. Aurum expects to publish an updated resource estimate and PFS by year-end. The transaction is expected to close in late June 2025, subject to approvals.
Montage Gold Corp (TSXV: MAU, OTCQX: MAUTF) has received final approval to list its common shares on the Toronto Stock Exchange (TSX). Trading will commence on April 29, 2025, maintaining the 'MAU' symbol. The company will voluntarily delist from TSXV prior to TSX trading, with no action required from shareholders.
The graduation to TSX marks a strategic milestone in Montage's vision to become a premier African gold producer. The move is expected to enhance visibility, broaden investor base, increase liquidity, and enable potential index inclusion. The company's flagship Koné gold project in Côte d'Ivoire, one of the largest gold projects under construction globally, remains on budget with first gold pour targeted for Q2-2027.
Montage Gold Corp (TSXV: MAU, OTCQX: MAUTF) has received conditional approval to graduate from the TSX Venture Exchange to the Toronto Stock Exchange (TSX). The company expects to complete the graduation in the coming weeks, trading under the symbol 'MAU'.
CEO Martino De Ciccio highlighted that this move aligns with their strategy of becoming a premier African gold producer, noting it should enhance visibility, broaden their investor base, increase liquidity, and provide potential index inclusion eligibility.
The company's flagship Koné gold project in Côte d'Ivoire continues construction on budget, with first gold pour expected in Q2-2027. The TSX listing is subject to fulfilling customary conditions, and shareholders won't need to take any action regarding their share certificates as the trading symbol and CUSIP will remain unchanged.
Montage Gold Corp. (TSXV: MAU, OTCQX: MAUTF) has exercised its participation rights to maintain its 19.5% equity stake in Sanu Gold following Sanu's non-brokered private placement. Montage acquired 7,664,294 shares of Sanu at C$0.28 per share, paid through the issuance of 848,222 Montage shares at C$2.53 per share, representing a total consideration of approximately C$2.1 million.
The transaction maintains Montage's right to top up its ownership to 19.9% in future financings. AngloGold Ashanti and the Lundin Family have also participated to maintain their respective 10% ownership positions. The proceeds will fund Sanu's exploration activities in Guinea, including ground geophysics and drilling programs at the Daina and Diguifara permits, as well as potential new permit acquisitions.
Montage Gold Corp (TSXV: MAU, OTCQX: MAUTF) has announced significant progress in its 2024 Koné project exploration program in Côte d'Ivoire. The company completed 81,815 meters of drilling, investing US$13 million to identify higher-grade satellite deposits.
Key achievements include:
- Delineation of 7 new higher-grade satellite deposits with grades between 0.9-1.6 g/t Au
- Addition of 160koz at 1.16 g/t Au (Indicated) and 270koz at 1.0 g/t Au (Inferred) from satellite deposits
- Koné deposit increase: Indicated resource up by 150koz to 4.49Moz at 0.57 g/t Au
- Total project resources now stand at 5.21Moz Indicated at 0.62 g/t Au and 780koz Inferred at 0.54 g/t Au
The company has launched a new 90,000-meter drill programme in early 2025, investing US$14 million to continue exploration of higher-grade satellites. Production is scheduled to commence in Q2-2027.
Montage Gold Corp (TSXV: MAU, OTCQX: MAUTF) has completed the first tranche of its strategic investment in African Gold (ASX:A1G) through a share exchange transaction. The deal involves:
- Montage receiving 92,377,787 African Gold shares at A$0.07 per share
- African Gold receiving 2,026,388 Montage shares at C$2.87 per share
In Tranche 1, Montage received 46,019,641 African Gold shares while African Gold received 1,009,481 Montage shares (subject to a 4-month hold period until August 8, 2025). The agreement includes investor rights for Montage, requiring 9% ownership in African Gold until Tranche 2 completion and 10% thereafter. Tranche 2 is expected to close in Q2-2025, pending African Gold shareholder approval.
Montage Gold Corp (TSXV: MAU, OTCQX: MAUTF) has announced a strategic partnership with African Gold (ASX:A1G), acquiring up to 19.9% ownership through the issuance of up to 2.19 million common shares valued at approximately C$6.3 million.
The partnership centers on African Gold's Didievi project in Côte d'Ivoire, which hosts an Inferred Resource of 4.93Mt at 2.9 g/t Au containing 452,000oz of gold. African Gold is currently executing a 10,000-meter drill programme at Didievi, reporting high-grade extension intercepts.
Key terms include:
- Montage becoming the operator of the Didievi project
- Appointment of Silvia Bottero as Non-Executive Director and Martino De Ciccio as Strategic Advisor to African Gold's Board
- African Gold raising C$1.66 million through a non-brokered private placement
- Technical Services Agreement until December 2026
- Right of First Refusal on the Didievi Project
Montage Gold Corp (TSXV: MAU, OTCQX: MAUTF) has announced significant progress in the construction of its Koné project in Côte d'Ivoire. The project has reached a key milestone with the commencement of process plant concrete works, including ahead-of-schedule pouring of Carbon-in-Leach tank foundations.
Since mid-December 2024, the on-site workforce has grown from 350 to 1,700 employees and contractors, with over 90% being Ivorian nationals. The project remains on track for first gold pour in Q2-2027 and on budget, with approximately 25% of the US$835 million capital spend committed.
Key construction highlights include:
- Process plant earthworks more than 30% complete
- Water Storage Facility over 35% complete and ahead of schedule
- Strong safety record with 730,000 man-hours worked without lost-time injury
- Engineering and procurement is 30% complete, exceeding the 17% target
- Permanent camp construction advancing with 80 rooms complete and 160 under assembly
Montage Gold Corp (TSXV: MAU, OTCQX: MAUTF) has reported its 2024 achievements and announced 2025 executive incentive plan targets. The company successfully launched construction of the Koné project in Côte d'Ivoire ahead of schedule in Q4-2024, making it one of the top-performing stocks on both TSX Venture Exchange and OTCQX for 2024.
The 2025 Short-Term Incentive Plan (STIP) objectives focus on:
- Project Development (60%): Keeping Koné project on budget for first gold pour in Q2-2027
- Exploration (30%): Discovery of 1Moz of M&I resources at 50% higher grade than Koné deposit
- ESG (10%): Maintaining 85% local employment during construction
The company granted 1,333,839 Performance Share Units (PSUs) and 3,750,741 stock options to executives and employees, with options exercisable at C$2.40 per share over five years. Montage currently has 351,366,246 Common Shares outstanding and 380,138,917 shares on a fully diluted basis.