Montage Gold (TSX: MAU) is said to be ahead of schedule for the development of their flagship Kone project in Cote d’Ivoire, with the first gold pour now expected in Q4 2026, versus the prior guidance of Q2 2027.
That first gold pour is expected to occur via the oxide circuit, while the hard rock comminution circuit is still on track for the Q2 2027 timeline. Several key milestones are said to have been achieved recently, including the erection of all 14 CIL tanks, as well as the completion of the oxide sizer, and the delivery of the shell for the ball mill to site. Grid connection as well as the installation of the lining for the tailings storage facility are said to be advanced.
As for budgeting, an estimated $545 million of capital has now been committed on site, which amounts to 63% of the total upfront capital expenditures expected, with that spend so far said to be in line with expectations.
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Elsewhere, Montage has indicated that they intend to drill 99,000 metres in 2026, which follows on 115,000 metres of drilling in 2025. That drilling includes 90,000 metres at Kone and 9,000 metres at Wende. An updated resource estimate is expected to be released before the end of the current quarter for multiple satellite deposits, as well as for the main deposits at Kone.
“Construction at our flagship Koné project in Côte d’Ivoire continues to progress at a rapid pace with a number of key milestones achieved including completion of the oxide sizer and delivery of the ball mill shell on site, which positions us to target a first gold pour through an oxide circuit start-up in late Q4-2026. Moreover, we are continuing to enjoy significant exploration success at the Koné project given the discovery of higher-grade satellites, with notably the Petit Yao discovery announced late last year,” commented Montage CEO Martino De Ciccio.
Montage Gold last traded at $10.02 on the TSX.
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