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    Montage moves up Côte d’Ivoire gold pour: capex, schedule and throughput notes for mine planners

    January 19, 2026|

    Reviewed by Joe Ashwell

    Montage moves up Côte d’Ivoire gold pour: capex, schedule and throughput notes for mine planners

    First reported on MINING.com

    30 Second Briefing

    Montage Gold has brought forward first gold pour at its Koné open-pit project in Côte d’Ivoire by six months to Q4 2026, with construction 63% committed on a US$545 million budget and targeting average production of about 301,000 oz. per year over the first eight years of a 16-year mine life. Key plant and infrastructure milestones include erection of all 14 carbon-in-leach tanks, delivery of the ball mill, completion of an oxide sizer, a new airstrip and a 33 kV camp power line, plus ongoing 225 kV substation and transmission tower works. A $16 million, 99,000-metre drilling programme in 2026, including work on the Wendé property and higher-grade satellites such as Petit Yao, aims to upgrade resources beyond the current 269 million indicated tonnes at 0.63 g/t (5.49 Moz) ahead of full ramp-up.

    Technical Brief

    • Koné licence covers 1,318 sq. km about 350 km northwest of Yamoussoukro, with multiple satellites.
    • More than 3,000 employees and contractors are currently on site supporting construction and early operations.
    • All 14 carbon-in-leach tanks plus associated piperack and grid-mesh walkways have been fully erected.
    • Oxide sizer installation is complete and the primary ball mill has been delivered to the plant site.
    • Permanent accommodation camp is almost finished, with all permanent rooms already fitted out and usable.
    • A new airstrip has been constructed and is scheduled to become operational within the current quarter.
    • Power infrastructure includes a near-complete 33 kV overhead line and an advancing 225 kV substation build.
    • Koné currently reports 269 Mt indicated at 0.63 g/t (5.49 Moz) and 43 Mt inferred at 0.51 g/t.
    • Resettlement village opened November, providing new housing plus school, pharmacy, maternity hospital, market and community facilities.

    Our Take

    Koné’s low indicated grade of 0.63 g/t gold, paired with a 16‑year mine life and a US$3.1‑billion after‑tax NPV, suggests Montage is engineering this as a large, low‑grade, bulk‑tonnage operation where power costs and plant uptime in Côte d’Ivoire will be critical to margins.

    With more than US$545 million already committed (63% of capex) and first gold pulled forward by six months, contractors and suppliers tied to the 225 kV power line and CIL plant at Koné are likely to see a tighter construction window and higher schedule risk than typical West African gold builds in our database.

    Among recent gold pieces in our coverage, Koné stands out for its scale relative to peers listing on the TSX/TSXV—such as Tiernan Gold or Goldsky Resources—implying Montage is positioning as a mid‑tier West Africa producer rather than an exploration-led junior.

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    Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.

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