Montage Gold Corp. · TSX:MAU
Montage Gold — Investor Presentation (December 2021)
23 slides from Montage Gold's investor presentation, December 2021
Slide 1: Koné Gold Project: The Foundation of a New Gold District
TSX.V MAU OTC MAUTF Kone Gold Project: The Foundation of a New Gold District CORPORATE PRESENTATION DECEMBER 2021
Slide 2: Cautionary Language
Cautionary Language Introduction Montage Gold Corp. (“Montage” or the “Company”) is a Canadian-based precious metals exploration and development company focused on opportunities in Côte d’Ivoire. The Company’s flagship property is the Koné Gold Project, located in northwest Côte d’Ivoire, which curr
Slide 3: Cautionary Language
Cautionary Language Forward-looking Information Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of Montage and/or the Montage Projects to be materially diffe
Slide 4: Introduction & Highlights
Introduction & Highlights Experienced Team & Strong Backing § Led by Red Back Mining management § Significant experience discovering and growing gold deposits in Africa § Backed by Lundin Family, Ross Beaty and Sandstorm Koné PEA Delivers Strong Economics with Simplicity and Scale § 3.37Moz in-pit M
Slide 5: Koné Delivers Where It Counts
Koné Delivers Where It Counts PEA HIGHLIGHTS ($1,600/oz gold price) § High IRR and NPV § Annual average production of $652 million 3 million oz § Significant leverage to gold price 205koz/year After-Tax NPV (100% basis) LOM Total Production § Payback <3 years § Peak production of 308koz in years 2 a
Slide 6: Strong Shareholder Backing
CAPITALIZATION Basic Shares Outstanding 105,040,004 Strong Options Outstanding1 Fully-Diluted Shares Outstanding 9,150,000 114,190,004 Shareholder Cash Position2 C$12,689,975 Backing Close Price (TSXV:MAU) November 12, 2021 Basic Market Cap C$0.70 C$73,528,003 Average Analyst Target Price C$2.08 OWN
Slide 7: Leading Montage
Leading Montage HUGH STUART ADAM SPENCER KEVIN ROSS GLENN KONDO CEO | B.Sc (Hons), M.Sc, FGS, CGeol EVP Corp. Development | CFA COO | Eur Ing, MBA, MIMMM CFO | B.Comm, CA § 30+ Years in Exploration § 15+ Years in Mining Capital Markets § 40+ Years in Mining Operations § 20+ Years in Finance § Track
Slide 8: Executing to Plan
Exploration License Application N Executing to Plan Sissingué Syama Wahgnion 100km Bagoe Grid: Lat/Long, WGS84 Tongon ü Inferred Resource doubled to 4.00Moz Doropo ü Delivered positive metallurgical results Korokaha Gold Project ABC ü PEA demonstrates strong economics ü Over 100,000m total drilling
Slide 9: Why Koné Works: Simplicity and Scale
Why Koné Works: Simplicity and Scale Geological Attributes: § Single mineralized domain § Over 200m true width § 50° dip of orebody § Consistent mineralization § Discrete higher-grade intervals Economic Impact: § High expected conversion from Resource to Reserve § Low strip ratio, unlikely to vary §
Slide 10: PEA Summary: A Solid Foundation
PEA Summary: A Solid Foundation OPERATING COSTS Mining Cost $2.90/t, mined Processing (including rehandle) $7.20/t, processed 205,000 oz Avg Annual Production Total Cash Costs $15.39/t, processed (Life of Mine) Gold Production Recoveries Cash Costs (Avg LOM) $827/payable oz Cash Costs (Avg First 3 Y
Slide 11: Low Cost, Reliable Green Power
Low Cost, Reliable Green Power On-site power generation preferred to grid § Lower capex and opex Hybrid LNG and Solar plant § Average annual demand 39MW § Dedicated and reliable Environmentally responsible § Solar contribution reduces CO2 emissions by 50kt/year 10-year BOOT Contract (Build, Own, Ope
Slide 12: Mineral Resource Estimate: Size and Grade Have Improved
MINERAL RESOURCE ESTIMATE (0.20g/t cut-off grade) Size and Grade Have Improved 4.5 4.0 4.00 4.27 3.5 Mineral Resource (Moz) 3.0 +100% conversion from Inferred to Indicated 2.5 1.97 § Overall grade has been maintained 2.0 1.5 Indicated Over 2x growth in deposit since IPO Inferred Inferred 1.0 0.5 100
Slide 13: Feasibility Study Confirming Key Drivers
Feasibility Study Confirming Key Drivers LOM STRIP RATIO (W:O) FRESH ROCK HARDNESS (BWI KWH/T) Strong economics driven by: § Low strip ratio Koné (Montage) 0.93 Koné (Montage) 11.3 § Low rock hardness Kiaka (B2Gold) Block 14 (Orca Gold) Abujar (Tietto) § Processing at elevated cut-off grade Namdini
Slide 14: Moving Forward
Batogo Village Moving Forward ry Toundia Forest da No resettlement expected Reserve un § Bo nt § Excellent access me North Pit ne Camp Te § Strong local relationships South Pit § Ample surface available for development Water Pipeline § Straightforward process with forest reserve Waste Dump Waste Dum
Slide 15: Exploration is Transformative
Exploration is Transformative Significant footprint largely untested § KGP includes 1,442km2 of permits and applications § Over 100km of unexplored mineral trends within trucking distance § 8 targets identified for initial testing Satellite exploration approach § Find pits of +50koz at ~2g/t § Signi
Slide 16: Petit Yao Trend
Petit Yao Trend Soil Contours Exploration Just Getting Started 20 ppb Eastern § Eastern trend covering 20km 100 ppb Greenstone § Numerous high-grade shallow oxide Trend hits at Petit Yao Central § 6m at 10.82g/t from 37m Petit Yao North § 3m at 15.51g/t from 28m § 4m at 8.31g/t from 35m § Over 4km o
Slide 17: Advancing the Koné Gold Project
Advancing the Koné Gold Project EARLY YEARS JUL 2008 Red Back applies for the Morondo Exploration Permit 2009 Soil sampling program identifies anomaly at Koné OCT 2010 Drilling confirms mineralization at Koné; Red Back acquired by Kinross Submission of ESIA and 2013 Sirocco Gold signs option agreeme
Slide 18: Local Impact & Community Relations
Local Impact & Community Relations Montage Gold is backed by strong community support from the § Water wells in both Fadiadougou and Batogo surrounding villages of Fadiadougou and Batogo. In addition to § New classrooms constructed in Fadiadougou being the largest employer in the area, Montage conti
Slide 19: Summary
Summary Koné Deposit PEA Feasibility 4.27Moz Indicated Complete Study Underway with Room to Grow 15 years at >200koz pa Expected in January 2022 Petit Yao Central >100km Fully-Funded High-grade, near surface Unexplored Trends $12.7 Million satellite potential Cash on Hand at 1,442km2 KGP See Notes a
Slide 20: Mineral Resources
Mineral Resources AUGUST 2021 MINERAL RESOURCE ESTIMATE JANUARY 2021 MINERAL RESOURCE ESTIMATE Cut-off Indicated Inferred Cut-off Inferred Au g/t Mt Au g/t Au Moz Mt Au g/t Au Moz Au g/t Mt Au g/t Au Moz 0.1 278 0.51 4.56 32 0.35 0.36 0.1 255 0.51 4.18 0.2 225 0.59 4.27 22 0.45 0.32 0.2 211 0.59 4.0
Slide 21: Disclosure Regarding Mineral Resource Estimates
Disclosure Regarding Mineral Resource Estimates August 2021 Mineral Resource Estimate § Indicated Mineral Resources and Inferred Mineral Resources are reported in accordance with NI 43-101 with an effective date of the 12th of August 2021, for the Koné deposit within the KGP. § The updated MRE is re
Slide 22: Pre-Production Capital & Operating Costs
Pre-Production Capital & Operating Costs Mining Life-of-Mine First 3 Years $32.0M CASH COSTS & AISC $t/processed $/payable oz $/payable oz Mining $5.39 $290 $316 Contingency $65.1M Processing $7.20 $387 $249 Owner Costs $31.6M G&A $0.86 $46 $32 Royalties $1.93 $104 $104 EPCM $40.2M $489.9M Total Cas
Slide 23: Hugh Stuart, TSX.V MAU, MontageGoldCorp.com
Hugh Stuart Chief Executive Officer hstuart@montagegoldcorp.com TSX.V MAU Adam Spencer EVP Corporate Development MontageGoldCorp.com aspencer@montagegoldcorp.com