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Montage Gold Strengthens Its Position Along the Boundiali Belt Through a Strategic Partnership With Aurum Resources
HIGHLIGHTS: Montage to obtain a 9.9% ownership stake in Aurum through the issuance of 2...
About this update from Montage Gold Corp.
[{"type":"text","content":"Montage Gold Strengthens Its Position Along the Boundiali Belt Through a Strategic Partnership With Aurum Resources \n\n\n\n\n HIGHLIGHTS:\n \n\n\n\n\n Montage to obtain a 9.9% ownership stake in Aurum through the issuance of 2.89 million common shares of Montage for deemed aggregate consideration of approximately C$10.4 million\n \n\n\n\n Montage will be investing alongside Zhaojin and the Lundin Family who will also each obtain a 9.9% interest in Aurum\n \n\n\n\n Aurum owns the Boundiali and Napié gold projects in Côte d’Ivoire\n \n\n\n\n The Boundiali gold project is located immediately north of Montage’s Koné project, where a 100,000-meter drill programme is currently underway; Aurum expects to publish an updated resource estimate and PFS by year-end\n \n\n\n\n The Napié gold project was obtained through the recent acquisition of Mako Gold, for which Aurum has planned a 30,000-meters drill programme for 2025 with the goal of delineating further resources\n \n\n\n\n\n\n\n VANCOUVER, British Columbia, May 06, 2025 (GLOBE NEWSWIRE) --\n \n Montage Gold Corp. (“Montage” or the “Company”)\n \n (TSX: MAU, OTCQX: MAUTF) is pleased to announce that it has strengthened its position along the Boundiali greenstone belt in Côte d’Ivoire, which hosts Montage’s Koné gold project, by entering into a strategic partnership with Aurum Resources Limited (“Aurum”) (ASX:AUE), given its highly attractive exploration portfolio adjacent to that of Montage.\n \n\n Montage will obtain a 9.9% interest in Aurum through the issuance of 2.89 million common shares of Montage representing a deemed consideration of approximately C$10.4 million. Montage will be investing alongside other strategic investors by participating in a non-brokered private placement (the “Offering”), including Zhaojin Mining Industry Company Limited (“Zhaojin”) who will increase their interest in Aurum to 9.9%, and the Lundin Family and their associates (“Lundin Family”) who will also obtain a 9.9% interest in Aurum. Through the Offering, Aurum will obtain aggregate gross proceeds of approximately A$35.6 million based on a share issuance price of A$0.356. Montage management and certain insiders will also participate in the Offering. Aurum had ...