Montage Gold Inc, under the leadership of CEO Martino De Ciccio, is rapidly advancing its flagship Kone project in Cote d'Ivoire, with the support of London investors. The project, currently in the Definitive Feasibility Study (DFS) stage, is projected to produce over 300,000 ounces of gold annually for the first eight years, at a cost of $1,000 per ounce, and boasts a 16-year mine life. This positions the Kone project as a standout venture in Africa's gold mining sector.
The company has successfully raised $35 million in a financing round, exceeding its initial target. This financial boost is earmarked for advancing the project through to the construction phase, including additional drilling to refine the mine plan, digital engineering, land compensation efforts, and streamlining financing and permitting processes. The Kone deposit already contains an estimated 4 million ounces of gold, with exploration potential for additional deposits nearby, enhancing the project's economic prospects.
Cote d'Ivoire offers Montage Gold several operational advantages, such as established mining infrastructure, easy access to the site, and a supportive regulatory framework. These factors are crucial for the company's ambitious plans to establish a significant presence in the African gold mining industry. With the Kone project at its core, Montage Gold is on a clear path to becoming a leading gold producer in the region, underlining the importance of this development for investors and the mining sector at large.
