Montage Gold accelerates gold pour timeline in Cote d’Ivoire

Montage Gold Corp. [MAU-TSXV, MAUTF-OTCQX] has accelerated the anticipated first gold pour from its Kone mine in Cote d’Ivoire to late fourth quarter 2026, advancing the timeline from the previously expected second quarter of 2027.

On Monday, Montage shares advanced on the news, rising 7.3% or 73 cents to $10.75. The shares trade in a 52-week range of $10.17 and $2.15.

As of January 2025, the company has committed over US$545 million, which accounts for approximately 63% of the total upfront capital expenditure. This marks an increase from September 30, 2025, when approximately US$418 million, or about half the capital was committed.

Key process plant achievements include the erection of all 14 CIL tanks, completion of the oxide sizer, and delivery of the ball mill shell to site with all preparatory works completed in time for installation.

Montage is a Canadian precious metal exploration and development company with a focus on the Cote d’Ivoire. Kone is the company’s flagship property and is located in northwest Cote d’Ivoire. The project is estimated to host a probable reserve of 174.3 million tonnes of grade 0.72 g/t or 4.01 million ounces.

Back in January 16, 2024, the company released the results of an updated feasibility study at Kone, outlining a 16-year gold project, producing 3.57 million ounces of gold at an all-in-sustaining cost of US$998 per ounce over the life of the mine. Average production is forecast at 223,000 ounces, reaching a peak of 378,000 ounces. Average annual production in the first eight years is expected to average more than 300,000 ounces of gold.

The project is fully funded with significant headroom with upfront capex expected to be US$835 million while Montage has in excess of US$900 million in liquidity sources.

Meanwhile, the company has said exploration will remain a focus throughout the construction, to achieve prior to commencing production the published target of discovering more than 1.0 million ounces of measured and indicated resources at a grade of 50% higher than the Kone deposit.

The company has also said the recent discovery of higher-grade satellites has positioned it to achieve that goal. The aim is to integrate new discoveries from the onset of production. Montage said indicated resources for satellite deposits have already grown by 404,000 ounces to 924,000 ounces at 1.32 g/t, with an additional 140,000 ounces at 1.09 g/t of inferred resources. Further resource updates are expected in the coming months.

Based on drilling completed last year, the company expects to publish updated mineral resource estimates in the first quarter of 2026 for several satellite targets.

For its 2026 exploration program, Montage has launched an initial $16 million drill program. This includes 90,000 metres of drilling at the Kone project, budgeted at $14 million, and an additional 9,000 metres for $2.0 million at the recently acquired Wende advanced greenfield property.