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Montage Gold announces the appointment of HCF as Financial Advisor
March 9, 2022
TSX-V Announcement
Vancouver, British Columbia — March 9, 2022—Montage Gold Corp. (“Montage” or the “Company”) (TSXV: MAU) (OTCPK:MAUTF) is pleased to announce the appointment of HCF International Advisers Ltd. to assist in the raising of project finance for the development of the Koné Gold Project in Côte d’Ivoire (“KGP” or the “Project”).
Hugh Stuart, CEO of Montage comments,
“Montage has made significant progress since its initial public offering in October 2020 to transition from an exploration stage company with a 1.5M ounce Inferred Resource to a development stage company with a 3.4M ounce Probable Mineral Reserve. The release of our Definitive Feasibility Study (“DFS”) results on February 14, 2022, illustrated the expected robust economics of the KGP with a long potential mine life of 14.8 years, producing an estimated average of 207koz/year at all–in sustaining costs (non–GAAP) of $933/oz. During the first 5 years of production, the Project is expected to produce 272koz/year with a payback period of 2.7 years at a gold price of $1,600/oz. Investment interest in the Project has increased significantly following the release of the DFS and we look forward to commencing the project financing mandate which will run in parallel with our ongoing permitting efforts.”
About Montage Gold Corp.
Montage is a Canadian–based precious metals exploration and development company focused on opportunities in Côte d’Ivoire. The Company’s flagship property is the Koné Gold Project, located in northwest Côte d’Ivoire, which currently hosts a Probable Mineral Reserve of 161.1Mt grading 0.66g/t for 3.42M ounces of gold. The Company released the results of a DFS on the Koné Gold Project on February 14, 2022, outlining a 15–year gold project estimated to produce 3.06M ounces of gold at AISC (non–GAAP) of $933 per ounce over life of mine, with average annual production of 207koz, and peak production of 320koz. Montage has a management team and Board with significant experience in discovering and developing gold deposits in Africa.
For additional information – download the full press release PDF below
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