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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. (TSXV: MAU, OTCPK: MAUTF) announced the appointment of Anu Dhir to its Board of Directors, effective immediately. Dhir, a co-founder of Wshingwell and seasoned mining executive, brings over 20 years of experience, particularly in Latin America. Additionally, Richard P. Clark steps down as non-executive Chair, with Peter C. Mitchell assuming the role. Montage is advancing its Koné Gold Project, which has a Probable Mineral Reserve of 3.42M ounces of gold. Dhir will receive 300,000 stock options at C$0.81 per share.
On April 25, 2022, Montage Gold Corp. (MAUTF) announced the awarding of a new exploration permit, the Sisséplé Exploration Permit, near its Koné Gold Project in Côte d'Ivoire. The permit covers 322km2, expanding Montage's holdings to 983km2. The company is focusing on exploring previously uncharted areas to locate higher-grade gold sources. Initial soil sampling is underway, and further geophysical surveys and drilling plans are set to define targets and assess resource potential. This development is aimed at enhancing the economics of the Koné project following a successful Definitive Feasibility Study.
Montage Gold Corp. (TSXV: MAU, OTCPK: MAUTF) announced that it has filed its Definitive Feasibility Study NI 43-101 Technical Report for the Koné Gold Project in Côte d'Ivoire on SEDAR. Dated March 14, 2022, with an effective date of February 14, 2022, the report confirms a Probable Mineral Reserve of 161.1Mt grading 0.66g/t, amounting to 3.42M ounces of gold. The project's after-tax NPV is $746M with an IRR of 35%. The feasibility study outlines a 15-year operation producing 3.06M ounces at an all-in sustaining cost of $933 per ounce.
Montage Gold Corp. (TSXV: MAU, OTCPK: MAUTF) has appointed HCF International Advisers Ltd. to aid in raising project finance for its Koné Gold Project in Côte d'Ivoire. The company has progressed significantly since its IPO in October 2020, growing from a 1.5M ounce Inferred Resource to a 3.4M ounce Probable Mineral Reserve. Following the February 14, 2022, release of a definitive feasibility study showing robust project economics, investment interest has surged. The project anticipates a payback period of 2.7 years and an average annual production of 207koz at AISC of $933/oz.
Montage Gold Corp. reports the Definitive Feasibility Study (DFS) results for the Koné Gold Project in Côte d'Ivoire, indicating substantial gold reserves and production capacities. The project holds 3.42Moz of Probable Reserves with an average production of 257koz/year over 14.8 years. Financial metrics reveal a $746M after-tax NPV5% at a $1,600 gold price, and a pre-production capital requirement of $544M. Optimizations have reduced sustaining capital by $153M. The permitting process is ongoing, backed by $10M in liquidity for further exploration.
Montage Gold Corp. (TSXV: MAU, OTCPK: MAUTF) announced its upcoming release of the Definitive Feasibility Study (DFS) results for the Koné Gold Project in Côte d'Ivoire on February 14, 2022. The DFS marks 15 months of diligent work post the company's IPO. CEO Hugh Stuart expressed optimism about the project's progress. Montage will also participate in several investment conferences and will provide a pre-recorded webcast of the DFS on its website. The Koné Gold Project currently hosts an Indicated Mineral Resource of 225Mt grading 0.59g/t for 4.27Moz of gold.