$MAU.TO

Update: Montage Gold Shares Up 9.5% as It Grows Kone Higher-Grade Satellite Resources

(Adds analyst comment and updates shares.)Montage Gold (MAU.TO) was last seen up 9.5% after the company on Monday said it continued to make higher-grade satellite discoveries at its Kone project in Cote d'Ivoire, where construction remains on-budget and ahead of schedule, with first gold pour targeted before year end..Among highlights, the company said it grew Kone higher-grade satellite resources to 1.7 million ounces of gold at 1.5 grams per tonne of indicated resources and 0.8-million ounces at 1.3 grams per tonne of inferred resource."Since the publication of the 2024 Updated Feasibility Study, a total of approximately 330,000 metres has been drilled in addition to the 118,525 metres completed prior, focused on discovering higher-grade satellite deposits with the objective of enhancing the production profile of the operation from the commencement of production. In support of this objective, in October 2024 we published a target of delineating more than 1Moz of M&I (measured and indicated) Resources at a grade at least 50% higher than that of the Kone deposit, and we are very pleased to have already significantly exceeded this target," chief executive Martino De Ciccio said.De Ciccio added: "We look forward to unlocking additional exploration value across the Kone project and our broader exploration portfolio as we continue on our journey of creating a premier multi-asset African gold producer and unlocking value for all stakeholders."Silvia Bottero, EVP Exploration of Montage, added: "To maximize the efficiency of the exploration programme, we have adopted a systematic approach whereby we initially drill test the highest-priority targets to confirm their potential and define starter resources to validate grade profiles before undertaking larger infill and step-out drilling campaigns. As such, our ongoing exploration programme continues to focus on three parallel workstreams: infill and step-out drilling of previously delineated deposits, advancing targets towards maiden resource status, and testing new targets through regional scout drilling."We look forward to continuing to aggressively advance exploration across the Kone project through the ongoing 90,000-meter drill programme, which we expect will support further resource updates throughout the year. Looking ahead, we are also excited by the ongoing exploration programmes across our broader Cote d'Ivoire portfolio, including at Didievi and Wende."National Bank of Canada maintained its outperform rating and C$20.00 price target on the company's shares, the bank said in a Monday note.National Bank views the update as positive overall, given the continued increase in higher-grade satellite ounces, stronger satellite grades versus the March 2026 update, and the broader deposit base available to feed into the revised mine plan.National Bank expects the modeled 10-year life of mine production of 305,000 ounces per year to improve in the initial three years as a result of this update. An updated LOM plan is expected through 2026.The company's shares were last seen up $1.515 to $17.435 on the Toronto Stock Exchange.Price: $17.41, Change: $+1.49, Percent Change: +9.36%

Montage Gold Grows Kone Higher Grade Satellite Resources; Shares Jumped 11.8% on Friday

Montage Gold Corp. (MAU.TO), which jumped 11.8% last Friday, reported earlier Monday that it has continued to make higher grade satellite discoveries at its Kone project, in Cote d'Ivoire, where construction "remains on-budget and ahead of schedule" with first gold pour targeted in late Q4 2026.Among highlights, the company said it grew Kone higher grade satellite resources to 1.7Moz at 1.5 g/t Au Indicated and 0.8Moz at 1.3 g/t Au Inferred.CEO Martino De Ciccio in a statement said: "Since the publication of the 2024 Updated Feasibility Study, a total of approximately 330,000 metres has been drilled in addition to the 118,525 metres completed prior, focused on discovering higher-grade satellite deposits with the objective of enhancing the production profile of the operation from the commencement of production. In support of this objective, in October 2024 we published a target of delineating more than 1Moz of M&I Resources at a grade at least 50% higher than that of the Kone deposit, and we are very pleased to have already significantly exceeded this target.De Ciccio added: "We look forward to unlocking additional exploration value across the Kone project and our broader exploration portfolio as we continue on our journey of creating a premier multi-asset African gold producer and unlocking value for all stakeholders."Silvia Bottero, EVP Exploration of Montage, added: "To maximize the efficiency of the exploration programme, we have adopted a systematic approach whereby we initially drill test the highest-priority targets to confirm their potential and define starter resources to validate grade profiles before undertaking larger infill and step-out drilling campaigns. As such, our ongoing exploration programme continues to focus on three parallel workstreams: infill and step-out drilling of previously delineated deposits, advancing targets towards maiden resource status, and testing new targets through regional scout drilling."We look forward to continuing to aggressively advance exploration across the Kone project through the ongoing 90,000-meter drill programme, which we expect will support further resource updates throughout the year. Looking ahead, we are also excited by the ongoing exploration programmes across our broader Cote d'Ivoire portfolio, including at Didievi and Wende."MAU was up $1.68 or 11.8% to $15.92 on Friday.

Montage Gold Target Raised To C$20 From $19, Keeps Outperform at National Bk On Q1 Model Update; Bk Says New Conceptual DCF for Didievi Highlights Growth Potential

Montage Gold Completes Its C$410.7-Million Acquisition of African Gold

Montage Gold (MAU.TO) on Wednesday said it closed it C$410.7-million acquisition of African Gold, adding the resource-stage Didievi project, in Cote d'Ivoire, to its portfolio.African Gold is now a wholly-owned unit of Montage. Eligible African Gold shareholders have now been issued 0.0628 Montage shares for each African Gold share, it added.Shares that ineligible African Gold shareholders would have otherwise been entitled to receive have been issued to a nominee who has been appointed to sell those Montage shares on the Toronto Stock Exchange so that proceeds of sale can be distributed to the ineligible shareholders.Montage issued a total 29.96-million shares in the deal.Shares of the company were last seen down $0.47 $13.24 on the TSX.Price: $13.25, Change: $-0.46, Percent Change: -3.36%

Montage Gold Says Completed Acquisition of African Gold

Montage Gold Secures Greenfield Exploration Permits in Mauritania

Montage Gold (MAU.TO) on Tuesday said it has secured five Greenfield exploration permits covering about 2,103 square kilometers in Mauritania following a competitive tender and due diligence process.The expansion into Mauritania is part of the company's strategy to create a multi-asset African gold producer.The permits are located in the Western and Eastern Reguibat regions of northern Mauritania. Four tenements have been secured in the Sfariat exploration block, and a further permit has been secured within the Zednes exploration block.Montage will own a 100% interest in the Sfariat permits. The company also entered into an agreement to obtain an 80% interest in the Zednes permit with SOCIEX, who was awarded the permit, which remains subject to customary approvals.Under the Zednes permit agreement, Montage will fund all exploration activities until an exploitation permit is awarded. At that point, SOCIEX has the right to either contribute its pro-rata share of development expenditures or convert its ownership into a 1.0% net smelter return royalty.An initial budget of up to US$2 million has been budgeted for exploration activities in Mauritania during 2026, including initial reconnaissance exploration fieldwork and drilling programs scheduled to begin in the fourth quarter.

Montage Gold Says Secured Prospective Gold Exploration Tenements in Mauritania

Montage Gold Says Shareholders and Optionholders of African Gold Voted In Favour of Schemes of Arrangement In Relation to Proposed Transaction Between Them