Breaking Ground: Montage Gold’s Koné Project Set to Shine with First Gold Pour in Q2 2027
HIGHLIGHTS:
A groundbreaking ceremony was held at Koné today with a strong presence from government officials and local communities, demonstrating their support for the project given its significant social and economic benefits. First gold production is expected in Q2-2027 as early works are well underway and major construction works are set to commence in the coming weeks. The EPCM contract was awarded to Lycopodium Minerals Pty Ltd with a number of tasks to be self-performed by Montage’s experienced in-house construction team. Key design parameters were optimized to enhance the crushing and milling circuit and improve the efficiency of the overall operation. The project is fully funded with significant headroom given that the upfront capex is expected to be US$835m while Montage has in excess of US$900m in liquidity sources. Long-lead items have been ordered, including the HPGR, crushers, ball mill, thickeners, CIL tanks, and key earthworks mobile equipment, amounting to more than US$150m in pricing secured. The ongoing 90,000m drill program is expected to be completed in the coming weeks, which is expected to result in the publication of a maiden mineral resource in Q1-2025. Exploration will remain a focus throughout the construction, to achieve prior to commencing production the published target of discovering more than 1Moz of M&I resources at a grade 50% higher than the Koné deposit. ABIDJAN, Côte d’Ivoire, Dec. 18, 2024 (GLOBE NEWSWIRE) — Montage Gold Corp. (“Montage” or the “Company”) (TSXV: MAU, OTCQX: MAUTF) is pleased to announce that it has launched the construction of its Koné project in Côte d’Ivoire (“Koné” or the “Project”) with first gold production scheduled for Q2-2027. To mark this significant milestone, a groundbreaking ceremony was held at Koné today with a strong presence from government officials and local communities, demonstrating their support for the project given its significant social and economic benefits.
Effect on Me:
As an individual, the successful launch and construction of the Koné project by Montage Gold is a positive sign for the industry. This milestone showcases advancements in mining technology and the potential for economic growth in the region. The production of gold from this project could impact the global gold market and potentially influence gold prices in the future.
Effect on the World:
The completion of the Koné project and the subsequent first gold pour in Q2 2027 has the potential to significantly impact the global gold market. Increased gold production from projects like Koné could influence supply levels and pricing, ultimately affecting economies and industries around the world. Furthermore, the social and economic benefits of the project could contribute to the overall development and prosperity of the region.
Conclusion:
In conclusion, Montage Gold’s Koné project marks a significant milestone in the mining industry, with the construction well underway and the first gold pour scheduled for Q2 2027. The project showcases innovation and advancement in mining technology while also promising substantial social and economic benefits for the local community and the global market. The successful completion of the project is not only a testament to Montage Gold’s expertise but also has the potential to have a lasting impact on the world’s gold industry.
