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VANCOUVER, BC, March 9, 2022 /PRNewswire/ – Montage Gold Corp. (“Montage” or the “Company”) (TSXV:MAU) (OTCPK: MAUTF) is pleased to announce the appointment of HCF International Advisers Ltd. to assist in the raising of project finance for the development of the Koné Gold Project in Côte d’Ivoire (“KGP” or the “Project”).
Hugh StuartCEO of Montage, commented, “Montage has made significant progress since its initial public offering in October 2020 to transition from an exploration stage company with a 1.5M ounce Inferred Resource to a development stage company with a 3.4M ounce Probable Mineral Reserve. The release of our Definitive Feasibility Study (“DFS”) results on February 14, 2022illustrated the expected robust economics of the KGP with a long potential mine life of 14.8 years, producing an estimated average of 207koz/year at all-in sustaining costs (non-GAAP) of $933/oz. During the first 5 years of production, the Project is expected to produce 272koz/year with a payback period of 2.7 years at a gold price of $1,600/oz. Investment interest in the Project has increased significantly following the release of the DFS and we look forward to commencing the project financing mandate which will run in parallel with our ongoing permitting efforts.”
HCF International Advisers Ltd. (“HCF”) is a leading independent corporate finance advisory boutique based in London, UK with a primary focus on the global mining and metals sector. HCF provides strategic and financial advice across the complete life cycle of a project with an extensive track record of securing the funding required to bring the project into operations. In particular, it has a strong history of securing funding for projects in Africa. HCF is comprised of professionals who have extensive financing and technical experience as well as expertise in the funding of gold projects.
ABOUT MONTAGE GOLD CORP.
Montage is a Canadian-based precious metals exploration and development company focused on opportunities in Côte d’Ivoire. The Company’s flagship property is the Koné Gold Project, located in northwest Côte d’Ivoire, which currently hosts a Probable Mineral Reserve of 161.1Mt grading 0.66g/t for 3.42M ounces of gold. The Company released the results of a DFS on the Koné Gold Project on February 14, …
Full story available on Benzinga.com
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