Saturday, May 31, 2025

Latest

Montage Gold Repurchases 1% NSR At Kone For US$10 Million

Montage Gold (TSXV: MAU) has cut a royalty on its Kone project in half as of this morning, after buying back a 1% NSR on the project.

The royalty relates to properties previously held under Mankono Exploration, which was acquired by Montage from Barrick Gold and Endeavour Gold two years ago. As part of that purchase a 1.4% and 0.6% net smelter return royalty were assigned to Barrick and Endeavour, respectively, which were eligible for a 50% buyback at a cost of US$10 million. That option was to be exercised by the second anniversary of the project being acquired.

The purchase as a result reduces the royalties owing to Barrick and Endeavour to 0.7% and 0.3%, respectively.

READ: Montage Gold Secures US$825 Million Financing Package For Kone Gold Mine

The NSR currently applies to an 893 square kilometre area of the project, which consists of the Gbongogo, Sisseple and Sissedougou exploration licenses. A majority of that Gbongogo license is said to now be covered by a mining permit for the Kone project, while the remainder currently sits under an exploration license.

“Given the strong liquidity sources recently secured, we are pleased to have the strategic and financial flexibility to exercise our right to repurchase a 1.0% royalty on our KonĂ© project, as part of our prudent capital allocation strategy,” commented Martino De Ciccio, CEO of Montage.

Montage Gold last traded at $2.12 on the TSX Venture.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

Alamos Gold Q1 Earnings: The Inside Scoop

Cerrado Gold Q4 Earnings: The Turnaround is Working

B2GOLD Q1 Earnings: Revenue Up, Production & Cash Flow Decline

Recommended

Canadian Copper: The $172M Combined Strategy PEA

ESGold Begins Concentration Tests Ahead Of First Production

Related News

Montage Gold Obtains Environmental Permit For Kone Project

Montage Gold (TSXV: MAU) has received a key approval in the development of its Kone...

Thursday, May 9, 2024, 09:07:23 AM

Montage Gold Takes 9.9% Stake In Aurum Resources Via Equity Swap Deal

Montage Gold (TSX: MAU) has formed yet another strategic partnership with a regional explorer in...

Wednesday, May 7, 2025, 09:10:26 AM

Montage Gold Indicates IRR Of 31% For Kone Project In PEA

Montage Gold Corp. (TSXV: MAU) shared today the results of its preliminary economic assessment for...

Tuesday, May 25, 2021, 09:11:19 AM

Montage Gold Intersects 301.8 Metres Of 0.60 g/t Gold, Feasibility Study To Be Released This Year

Montage Gold (TSXV: MAU) last night announced the latest infill drilling results for its Kone...

Wednesday, June 23, 2021, 07:42:46 AM

Montage Gold: Strategic Moves In The Ivory Coast

Montage Gold (TSXV: MAU) has added a new asset to its portfolio. Well, sort of....

Saturday, March 29, 2025, 01:23:00 PM