At a Glance
- Montage Gold targets first gold production at Koné mine in late Q4, boosting near-term cash flow.
- Rapid construction progress supports scale-up toward over 300,000 ounces of annual gold output.
- Ongoing exploration and African acquisitions strengthen long-term growth and production visibility.
Montage Gold Corp., the Canadian mining developer advancing one of Africa’s largest new gold projects, is closing in on its first gold pour at the Koné Gold Project in Côte d’Ivoire, underscoring accelerating momentum across West Africa’s fast-growing gold mining sector.
The company expects first production through the oxide circuit in late Q4 this year, a significant schedule improvement that is reshaping investor expectations around near-term cash flow and project economics.
Construction at the 90%-owned Koné mine is progressing rapidly, positioning Montage Gold as a rising mid-tier African gold producer.
The company says its hard-rock comminution circuit remains on track for completion by the second quarter of 2027, supporting a large-scale, long-life operation designed to deliver more than 300,000 ounces of gold annually.
Construction progress keeps project on track
Key infrastructure milestones are being achieved at pace. Montage has completed installation of 14 carbon-in-leach (CIL) tanks, major piperack systems, grid mesh walkways, and an oxide sizer, while a critical ball mill has already been delivered to site.
Progress has also been recorded at the tailings storage facility, alongside ongoing assembly of transmission line towers both essential to commissioning and ramp-up.
To date, the company has invested approximately $545 million in construction, representing about 63% of total upfront capital expenditure. The spending profile signals strong execution discipline at a time when global mining projects are facing inflationary pressure and capital overruns.
Exploration upside strengthens long-term value
Beyond construction, Montage Gold continues to unlock exploration upside across its Côte d’Ivoire portfolio. The company drilled 115,000 meters last year, including pre-production drilling at the Koné and Gbongogo Main deposits.
An updated mineral resource estimate is expected before the end of March, covering these core assets as well as multiple satellite targets.
In 2026, Montage budgeted $16 million for exploration, with 90,000 meters planned at Koné and an additional 9,000 meters at the recently granted Wendé project.
The aggressive drill program reflects management’s strategy to extend mine life, increase resource scale, and enhance long-term production visibility.
Strategic growth through African consolidation
Looking ahead, Montage is moving to consolidate its project pipeline through the acquisition of African Gold, following encouraging drill results at the Didievi project, also located in Côte d’Ivoire.
The transaction is expected to close in April, reinforcing Montage’s footprint in one of Africa’s most stable and investor-friendly mining jurisdictions.
CEO Martino de Ciccio says the company is also preparing to launch drilling at Wendé, targeting organic growth through systematic exploration and strategic land acquisition. The approach aligns with Montage’s broader ambition to build a multi-asset African gold platform.
Building a major African gold producer
Under de Ciccio’s leadership, Montage Gold is positioning Koné as one of the largest gold projects currently under construction globally.
With a robust production profile, long mine life, and experienced management team well-versed in African mining, the company is emerging as a key beneficiary of sustained global demand for gold amid macroeconomic uncertainty.
As construction advances and exploration success continues, Montage Gold is fast becoming a benchmark story in Africa’s next wave of large-scale gold development, one closely watched by global investors seeking growth, scale, and geopolitical diversification.
