Montage Gold brings forward first pour at Kone as production profile sharpens

Montage Gold Corp. (TSX: MAU) is progressing towards first gold output at its Kone mine in Cote d'Ivoire, with production now expected in the fourth quarter of 2026 following an earlier revision to the project timeline from an initial target of the second quarter of 2027.

The adjusted schedule marks an important step for the Canadian developer as it moves closer to becoming a gold producer, amid a supportive gold price backdrop and renewed interest in African mining assets.

Analysts forecast revenues of around $80 million from the Kone project in 2026, with an expected gold output of 6,000 ounces as commissioning begins late in the year. A more pronounced uplift is expected in 2027, when production volume is projected to reach 266,175 ounces, supporting revenues of approximately $1.4 billion.

Kone, in which Montage holds a 90% stake, is the company’s flagship property. Visible Alpha consensus shows analysts apply a 6.5% discount rate to the project, implying an attributable net asset value (NAV) of about $3.8 billion, or $8.92 per share as of March 31.

For Montage Gold, the focus now shifts to delivery as it seeks to convert development progress into sustained production growth

This article was published by Visible Alpha, part of S&P Global Market Intelligence and not by S&P Global Ratings, which is a separately managed division of S&P Global.