Montage Gold Secures US$825 Million Financing for Koné Project

Montage Gold Corp. (TSXV: MAU) (OTCQX: MAUTF) has secured a significant US$825 million financing package for the construction of its Koné gold project in Côte d'Ivoire. This strategic move aligns with Montage's goal of obtaining financial and strategic flexibility while minimizing equity dilution. The financing package, comprising gold streams and loan facilities from Wheaton Precious Metals and Zijin Mining, increases Montage's liquidity sources to approximately US$970 million.


The financing package consists of a US$625 million gold stream and a US$75 million loan facility provided by Wheaton Precious Metals, along with a US$75 million fully redeemable subordinated gold stream and a US$50 million senior secured loan facility provided by Zijin Mining. This combination of funding instruments allows Montage to maintain exploration upside and strategic, financial, and operating flexibility.


The Koné project, set to become West Africa's next sizeable, long-life, low production-cost gold mine, is expected to produce over 300,000 ounces of gold per year during its initial 16-year mine life. With essential permits in place and strong shareholder backing from the Lundin Group and Zijin Mining, the Koné project is poised to unlock value for all stakeholders.

Montage's CEO, Martino De Ciccio, commented on the financing milestone, stating, "Today's announced US$825 million funding package provides significant funding headroom ahead of launching our construction... We look forward to soon launching the construction of our Koné project, which is set to become West-Africa's next sizable, long-life, low production-cost gold mine, and poised to unlock value for all stakeholders."

This strategic financing package not only secures Montage's Koné project but also positions the company to attract further investment and strategic partnerships in the future. By forming partnerships with Wheaton Precious Metals and Zijin Mining, Montage demonstrates its commitment to creating a premier African gold producer.