Montage Gold Boosts Koné Project Grade by 20%, Strengthening West Africa’s Gold Outlook

A view of the Koné project area. Credit: Montage Gold.

Montage Gold has significantly strengthened the outlook of its flagship Koné project in Côte d’Ivoire, reporting a major increase in both resource size and grade as it moves closer to first production.

The update marks a key milestone for one of West Africa’s largest emerging gold projects, reinforcing investor confidence and highlighting the region’s growing importance in global gold supply.

Resource Growth and Higher Grades Drive Value

Montage Gold announced that measured and indicated resources at the Koné deposit have risen to 4.63 million ounces, with an average grade of 0.69 grams per tonne—representing a 21% improvement.

The nearby Gbongogo Main deposit also delivered strong results, with indicated resources increasing by around 40% to 783,000 ounces at a higher grade of 1.51 grams per tonne.

These improvements follow an extensive 2025 drilling campaign, which enhanced geological modelling and identified higher-grade zones within the broader deposit. The tighter drill spacing has allowed for more accurate resource definition, boosting overall project confidence.

Construction Advances Toward First Gold

The Koné project is now advancing steadily toward production, with first gold targeted for the fourth quarter of 2026. Backed by strong resource fundamentals, the mine is expected to produce approximately 300,000 ounces annually during its initial years, based on earlier feasibility studies.

Montage has indicated that construction remains ahead of schedule and within budget—an important signal for investors tracking project execution in Africa’s mining sector.

Strong Financial Backing Secures Development

The project is fully financed, following an $825 million funding package secured in 2024. A major component of this came from Wheaton Precious Metals, which committed $625 million in exchange for a share of future gold production.

Additional support includes funding from Zijin Mining, which holds a strategic stake in Montage and has provided both debt financing and a gold streaming arrangement.

This diversified funding structure reduces financial risk and positions the project for smooth development through to production.

Exploration Upside Across Satellite Deposits

Beyond the main Koné deposit, Montage is actively expanding its resource base across several satellite targets, including Gbongogo South, Koban North and Yere North.

The company has already completed a 174,000-metre drilling programme and continues to advance an additional 90,000 metres of drilling. New discoveries such as Petit Yao and Soman are expected to further enhance the project’s long-term production profile.

An updated life-of-mine plan is also anticipated later this year, which could extend the project’s 16-year lifespan and improve overall economics.

West Africa’s Growing Mining Significance

The progress at Koné underscores the rising importance of West Africa as a global mining hub. Countries like Côte d’Ivoire are increasingly attracting international investment due to favourable geology, improving regulatory frameworks and expanding infrastructure.

With gold prices remaining near historic highs, projects such as Koné are well positioned to deliver strong returns while contributing to regional economic growth through job creation and export revenues.

A Strategic Step Forward

Montage Gold’s latest resource update highlights the growing scale and quality of the Koné project, reinforcing its status as a cornerstone asset in West Africa’s gold sector.

As the company moves closer to production, the combination of higher grades, strong financing and ongoing exploration success positions Koné as a key project to watch in Africa’s evolving mining landscape.