Having closed a C$180 million financing in August that saw Zijin Mining take a 9.9% stake, Montage Gold aims to complete a US$800 million financing package for its Koné gold development project in Côte d'Ivoire in November, president and chief executive Martino De Ciccio told Mining Journal at the 2024 Gold Forum Americas in Colorado Springs in Denver, US.
Koné is expected to produce 300,000ozpa of gold for the first eight years of a 16-year mine life, and 223,000ozpa over its mine life at an all-in-sustaining cost of $998/oz. This could increase with exploration success, possibly to 400,000oz. To this end, the company completed a 30,000m exploration programme mid-year and it is about to begin a 60,000m programme to add to the +4Moz of reserves and indicated resources of nearly 5Moz.