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    Montage Gold’s Koné first pour: project economics and pit design notes for engineers

    May 28, 2026|

    Reviewed by Tom Sullivan

    Montage Gold’s Koné first pour: project economics and pit design notes for engineers

    First reported on MINING.com

    30 Second Briefing

    Montage Gold is nearing first pour at its Koné open-pit project in Côte d’Ivoire, a 4‑million‑oz reserve operation with a 16‑year mine life, projected output of 349,000 oz/year for the first three years at sub‑US$1,000/oz AISC and a US$1.1 billion NPV (5%) with 31% IRR. The company is drilling 90,000 metres across satellite deposits within a 75 km trucking radius to lift throughput towards 400,000 oz/year by 2027 and displace lower‑grade ore in the mine plan. Parallel 40,000‑metre drilling at the 989,000‑oz Didievi project and new greenfield permits in Mauritania and Guinea signal a push to a multi‑asset West African gold platform.

    Technical Brief

    • Koné’s 2,259 sq. km licence hosts 174.3 Mt of probable reserves grading 0.72 g/t Au.
    • Lundin Group holds 19.9% of Montage after a US$53 million investment; Zijin Mining owns 9.9% via US$57.3 million.
    • Current drilling at Koné satellites totals 90,000 m across Yere North, Petit Yao, Soman 1–2 and Lokolo West.
    • Koné permit extends 35 km north of the mill, with all deposits within a 75 km trucking radius.
    • Additional permitting is planned for northern targets including Sena, Soman 2 and Yere North to feed the central mill.
    • Didievi, 300 km southeast of Koné, currently hosts 12.4 Mt inferred at 2.5 g/t Au (989,000 oz).
    • Regional growth includes five new greenfield permits in Mauritania and a 19.9% equity stake in Sanu Gold’s Guinea portfolio.

    Our Take

    The earlier resource update at Koné in Côte d’Ivoire (March 2026 item) showed a 21% grade uplift, which, combined with the 31% IRR and 2.6‑year payback cited here, suggests Montage Gold is deliberately de‑risking the Koné complex economics ahead of the Q4 2026 first pour.

    Our database shows multiple recent Montage Gold pieces tying Côte d’Ivoire assets (Koné and Didievi) with new greenfield permits in Mauritania, indicating the company is building a West Africa gold platform rather than a single‑asset play, which may be one reason Lundin Group and Zijin Mining have taken sizeable minority positions.

    With Didievi sitting about 300 km from Koné and higher‑grade inferred tonnes than the main Koné orebody, the strategic question for operators will be whether to justify satellite trucking or a separate plant in the medium term, especially once nearer‑mill targets within the 75 km truckable radius are drilled out.

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    Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.

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