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Montage Gold Announces Koné Gold Project DFS with After-Tax NPV of $746M and 35% IRR
VANCOUVER, BC, Feb. 14, 2022 /CNW/ - Montage Gold Corp. ("Montage" or the "Company") (TSXV: MAU) (OTCPK: MAUTF) is pleased to announce the results of the Defini
About this update from Montage Gold Corp.
[{"type":"text","content":" VANCOUVER, BC, Feb. 14, 2022 /CNW/ - Montage Gold Corp. (\"Montage\" or the \"Company\") (TSXV: MAU) (OTCPK: MAUTF) is pleased to announce the results of the Definitive Feasibility Study (the \"DFS\" or the \"Study\") for the Koné Gold Project (\"Koné Gold Project\", \"Project\", or \"KGP\") in Côte d'Ivoire. The DFS was prepared by Lycopodium Minerals Pty Ltd. in accordance with Canadian Securities Administrators' National Instrument 43-101 Standards of Disclosure for Mineral Projects (\"NI 43-101\"). Please note that all financial figures in this press release are in United States dollars, unless otherwise noted. HIGHLIGHTS Significant Gold Reserves and Production – A Strategic Asset in Côte d'Ivoire 3.42Moz of Probable Mineral Reserves 3.06Moz of gold produced over a 14.8-year Life-of-Mine (\"LOM\") Average annual gold production of 257koz in first 9 years; 207koz/year LOM Peak production 320koz in year 2 Strong Financial Metrics with Improved Capital Efficiency $746M after-tax NPV5% and 35% IRR at base case $1,600 gold price $1,043M after-tax NPV5% and 47% IRR at $1,800 gold price LOM AISC1 of $933/payable oz All production from open pits with LOM strip ratio of 0.90:1 Pre-production capital requirement of $544M Optimizations Improve Economics and Streamline Operations $153M reduction in sustaining capital vs. PEA 40% reduction in TSF surface area No road diversion Moving Forward to Unlock Value Permitting process well underway; all requisite approvals expected in Q3 2022 Project financing process to commence soon Aggressive satellite pit exploration ongoing Well-funded with ~C$10M for permitting and exploration Hugh Stuart, Montage CEO commented, \"The completion of the DFS for the Koné Gold Project is a tremendous milestone for Montage and is demonstrative of the hard work, dedication and expertise of our team. In the 15 months since our IPO, we have transformed Montage from an exploration company with a 1.5Moz Inferred Mineral Resource, into a development company with Probable Reserves of over 3.4Moz with anticipated average gold production of 257koz/year in the first 9 years, peaking at 320koz. \"We are clearly extremely pleased at how well the DFS compares to the May 2021 Preliminary Economic Assessment (\"PEA\"), with nearly all metrics improving, under the same base case gold price of $1,600/oz. Critical to thes...