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Montage Gold Inc CEO Martino De Ciccio joined Steve Darling from Proactive to share exciting developments as the company strives to establish a multi-asset gold mining enterprise focused on Africa. Drawing on his nine-year tenure at Endeavor, De Ciccio's transition to Montage Gold reflects a strategic move to capitalize on the burgeoning opportunities within the gold mining sector, backed by support from London investors.
Central to Montage Gold's strategy is its flagship project, the Kone project located in Cote d'Ivoire, which is currently at the DFS (Definitive Feasibility Study) stage. The project holds immense promise, with projections indicating annual production of over 300,000 ounces for the first eight years, at an industry-leading cost of $1,000 per ounce, and a robust 16-year mine life. These impressive metrics firmly position the Kone project as a standout venture in Africa, distinguished by its scale, quality, and the favorable operational environment in Cote d'Ivoire.
Over the past year, Montage Gold has made significant strides under new London backing, focusing on updating the feasibility study to reflect a higher-grade deposit. The company successfully completed a financing round, surpassing its initial target by raising $35 million. This funding infusion will propel Montage Gold through to the construction phase, facilitating additional drilling to enhance the mine plan, initiating digital engineering and land compensation efforts, and streamlining financing and permitting processes.
Montage Gold's extensive land package offers substantial exploration potential beyond the Kone deposit, which already hosts an impressive 4 million ounces of gold. The presence of multiple mineralized trends and identified targets near the Kone deposit augurs well for the discovery of additional smaller deposits, further bolstering the project's economic viability.
Operating in Cote d'Ivoire provides Montage Gold with distinct advantages, including established mining infrastructure, easy site access, and a favorable regulatory environment. These factors contribute to the company's confidence in its ability to execute its ambitious plans and establish a significant gold mining presence in Africa.
As Montage Gold progresses through 2024 under De Ciccio's leadership, the company is poised to realize its vision of becoming a leading player in the African gold mining landscape, with the Kone project serving as a cornerstone of its success.
Contact Details
Proactive North America
Proactive North America
+1 604-688-8158
NA-editorial@proactiveinvestors.com
View source version on newsdirect.com: https://newsdirect.com/news/montage-gold-aims-to-establish-a-leading-gold-mining-company-in-africa-894163970
Montage Gold Corp
COMTEX_449969763/2655/2024-03-28T08:28:38
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