Core Insights - Montage Gold Corp. is making rapid construction progress at its Koné project in Côte d'Ivoire, with the first gold pour expected in late Q4-2026 [2][3][6] - The company has committed approximately $545 million, representing 63% of the total upfront capital expenditure, and construction remains on-budget [3][7][28] - Exploration efforts are ongoing, with 115,000 meters drilled in 2025, exceeding the initial budget of 90,000 meters, and a new $16 million drill program launched for 2026 [4][32][31] Construction Progress - Over 7.2 million construction hours have been worked, with key milestones achieved including the erection of all 14 CIL tanks and the delivery of the ball mill shell to the site [3][6][9] - The oxide sizer has been completed approximately four months ahead of schedule, and the hard-rock comminution circuit is on track for completion in Q2-2027 [11][28] - The resettlement village has been completed and is fully occupied, reflecting strong partnerships with local stakeholders [10][24] Exploration Program - The exploration program for 2026 includes 90,000 meters of drilling at the Koné project and 9,000 meters at the newly awarded Wendé advanced greenfield property [4][32][31] - The company expects to publish updated Mineral Resource Estimates in Q1-2026 for several satellite targets, including the Koné and Gbongogo Main deposits [4][31] - The focus of the exploration program is on infill and extension drilling, advancing pre-resource targets, and testing new targets across the project [31][34] Future Outlook - The company aims to consolidate its project pipeline through the acquisition of African Gold, enhancing its exploration capabilities [7][39] - Key upcoming catalysts include the first gold pour in late Q4-2026 and ongoing results from the 2026 exploration program [41][38] - Montage Gold Corp. is positioned to become a premier African gold producer, with a projected mine life of 16 years and annual production of over 300,000 ounces of gold in the first eight years [39]

Core Insights - Montage Gold Corp. is making rapid construction progress at its flagship Koné project in Côte d'Ivoire, remaining on-budget and on-schedule for the first gold pour in Q2-2027 [2][4][45] - The project has achieved significant milestones, including the erection of six CIL tanks and completion of mill foundations, approximately two months ahead of schedule [3][10] - The company is implementing an owner-mining model, which is expected to enhance operational efficiencies and provide strategic flexibility [4][22] Construction Progress - A total of 4.5 million construction hours have been worked, with key milestones achieved ahead of schedule [3][9] - Approximately $418.3 million of capital has been committed to date, representing about half of the total upfront capital expenditure of $860 million [3][48] - The construction of an oxide circuit is underway, which is expected to improve operational flexibility and potentially advance the first gold pour [4][17] Resource Development - The company is on track to discover over 1 million ounces of Measured and Indicated resources at a grade 50% higher than the Koné deposit, with recent discoveries of higher-grade satellite deposits [5][49] - Indicated Resources for satellite deposits have increased by 404,000 ounces to 924,000 ounces at a grade of 1.32 g/t Au, with additional Inferred Resources of 140,000 ounces at 1.09 g/t Au [5][49] - A 120,000-meter exploration drilling program is currently underway to delineate higher-grade satellite resources [50] Operational Enhancements - The addition of an oxide circuit is expected to allow for processing of 100% oxide feed, enhancing plant availability and reducing working capital outflows [4][20] - The owner-operated mining model is supported by a $75 million Equipment Finance Facility, which will finance the acquisition of a mining fleet [42][22] - The company is committed to developing local talent, with over 90% of construction tasks being self-performed [6][8] Timeline and Future Outlook - The timeline for the first gold pour remains on track for Q2-2027, with potential to accelerate production by commissioning the oxide circuit earlier [45][48] - Key upcoming milestones include the delivery of the ball mill in Q1-2026 and continued progress on various construction components [10][21] - The company aims to maintain an annual production of at least 300,000 ounces for over 10 years, aligning with its strategic objectives [49][53]