Montage Gold Corp. has reported its first quarter 2026 activities, highlighting that construction at the Koné project in Côte d'Ivoire remains on budget and ahead of schedule. The company also noted continued exploration success and robust liquidity sources.
Koné Construction Activities
Rapid progress has been achieved with over 10.4 million hours worked to date, involving more than 3,500 employees and contractors on-site. The project is ahead of schedule, with first gold pour targeted in late Q4-2026 through the oxide circuit, and on budget with $636.9 million of capital committed as of today, representing approximately 72% of the total upfront capital expenditure.
Key process plant achievements include successful installation of all major mill components, erection of all reagent tanks, ongoing installation of agitation and gearboxes on CIL tanks, completion of the oxide sizer, and rapid advancement of civil works on the hard-rock comminution circuit. Other key infrastructure workstreams are also advancing ahead of schedule, including grid connectivity, water services, mine service areas, and the HDPE lining of the TSF, which is over 90% complete.
Exploration Activities
The 90,000-meter drill program at the Koné project is well underway, with a total of 47,254 meters drilled in Q1-2026. Resource updates for previously delineated satellite deposits, along with maiden resource estimates for new discoveries such as Petit Yao and Soman, are expected to be published in Q2-2026. The 9,000-meter drilling program at the Wendé advanced greenfield exploration property is underway, while early exploration works have commenced at the greenfield exploration tenements recently secured in Mauritania.
Financial Position
The company maintains robust liquidity and Koné project funding sources totaling $440.2 million, compared to remaining capital disbursements of $380.1 million. Cash flows used in investing activities were $110.3 million in Q1-2026, while cash and cash equivalents at the end of the period stood at $79.4 million.
Montage Gold Corp. (TSX: MAU, OTCQX: MAUTF) is pleased to report on its construction and exploration activities for Q1-2026. The company’s condensed interim consolidated Financial Statements and associated Management’s Discussion and Analysis for the three months ended March 31, 2026, have been filed under the company’s profile on SEDAR+ and are available for download on the company’s website.
