Name of the Project
Koné gold project.

Location
About 350 km north-west of Yamoussoukro, Côte d’Ivoire.

Project Owner/s
Canada-based mineral resources company Montage Gold.
 
Project Description
The project is based on three openpit gold deposits feeding a central gold-processing facility. The project has an average yearly mining rate of 42.4-million tonnes and will produce an average of 223 000 oz/y of gold over the 16-year life-of-mine for total gold production of 3.57-million ounces.

There is upside potential through regional exploration and identification of satellite pits similar to Koné’s Gbongogo Main deposit that could be mined and trucked to a central processing facility. The process plant will have a nominal throughput of 11-million tonnes a year with a grind size of 80% passing (P80) 75 µm.

The treatment plant design incorporates crushing, screening, high-pressure grinding rolls, grinding and classification, preleach and tailings thickening, a carbon-in-leach circuit, carbon recovery and acid wash, carbon elution, electrowinning trains and smelting.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at a 5% discount rate, of $1.44-billion and an internal rate of return of 34.6%, with a payback of 2.6 years.

Capital Expenditure
Initial capital expenditure is estimated at $835-million.

Planned Start/End Date
The project started construction in December 2024. First gold production is scheduled for the second quarter of 2027.

Latest Developments
Montage Gold has expanded its exploration campaign at the Koné gold project, after reporting a string of successful drill results that have propelled it past its 2024 drilling totals just halfway through the year.

The company has drilled 83 280 m in 2025, surpassing the 81 815 m completed in the previous year. 

The company has now increased its exploration budget from $14-million to $18-million and plans to complete 120 000 m of drilling this year.

The exploration drive forms a critical part of Montage’s push to meet its short-term goal of delineating more than one-million ounces of measured and indicated resources at a grade at least 50% higher than the main Koné deposit, ahead of production targeted for the second quarter of 2027.

CEO Martino De Ciccio has said the company is unlocking value through a dual-track strategy of exploration and construction, progressing on time and on budget. 

He has indicated that achieving the short-term goal of discovering more than one-million ounces of higher-grade resources will support the company’s strategy of boosting initial production levels and sustaining output of more than 300 000 oz/y over a decade.

Key Contracts, Suppliers and Consultants
Lycopodium Minerals (engineering, procurement and construction management).

Contact Details for Project Information
Montage Gold, tel +1 416 963 5777.