Business
Montage Gold Enters into Strategic Partnership with African Gold to Advance the High-Grade Didievi Project in Côte d'ivoire
HIGHLIGHTS: Montage to obtain up to 19.9% ownership stake in African Gold (ASX:A1G), th...
About this update from Montage Gold Corp.
[{"type":"text","content":"Montage Gold Enters into Strategic Partnership with African Gold to Advance the High-Grade Didievi Project in Côte d’ivoire\n\n\n\n\n HIGHLIGHTS:\n \n\n\n\n\n Montage to obtain up to 19.9% ownership stake in African Gold (ASX:A1G), through the issuance of up to 2.19 million common shares for deemed aggregate consideration of up to circa C$6.3 million\n \n\n\n\n African Gold to appoint Silvia Bottero, EVP Exploration of Montage, as Non-Executive Director and Martino De Ciccio, CEO of Montage, as Strategic Advisor to the Board of Directors\n \n\n\n\n African Gold owns several exploration properties in Côte d’Ivoire, including its flagship Didievi project which hosts an Inferred Resource of 4.93Mt at 2.9 g/t Au containing 452,000oz of gold, as published by African Gold\n \n\n\n\n Montage appointed operator of the Didievi project to take advantage of its presence and expertise in Côte d’Ivoire\n \n\n\n\n African Gold is currently undertaking a 10,000-meter drill programme at its Didievi project which continues to return high-grade extension intercepts\n \n\n\n\n\n VANCOUVER, British Columbia, March 24, 2025 (GLOBE NEWSWIRE) -- Montage Gold Corp. (“Montage” or the “Company”) (TSXV: MAU, OTCQX: MAUTF) is pleased to announce that it has entered into a strategic partnership with African Gold Limited (“African Gold”) (ASX:A1G), given its highly attractive exploration portfolio in Côte d’Ivoire, including its high-grade Didievi project, obtaining an up to 19.9% interest in African Gold through the issuance of up to 2.19 million common shares of Montage representing a deemed consideration of up to approximately C$6.3 million.\n \n\n Montage will be participating alongside a broader non-brokered private placement (the “Offering”) whereby an additional 26.3 million ordinary shares in African Gold will be issued to subscribers. Through the Offering, African Gold will obtain aggregate gross proceeds of approximately C$1.66 million based on a share issuance price of A$0.07. African Gold had a market capitalization of approximately A$29.4 million (US$18.5 million) prior to the Offering.\n \n\n African Gold’s flagship Didievi project in Côte d’Ivoire is located close to established gold mining operations including A...