The Globe and Mail reports in its Friday, Aug. 16, edition that believing Montage Gold "offers a scarce high-quality investment opportunity amongst gold development-stage peers," BMO Nesbitt Burns analyst Raj Ray commenced coverage with an "outperform" recommendation and a $2.50 share target. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $2.59. Mr. Ray says in a note: "Montage is advancing the preconstruction stage Kone gold project in Cete d'Ivoire. The attractiveness of the project is the large scale, potential for additional higher-grade resources, simple flow-sheet design with relatively low processing costs and access to key infrastructure. The Kone project has also been significantly derisked with mining permits in place. Backed by a strong team with significant experience in West Africa, Montage offers a scarce high-quality investment opportunity amongst gold development-stage peers." The Globe reported on July 24 that National Bank analyst Don DeMarco had initiated coverage of Montage Gold with an "outperform" recommendation and $2.50 share target. Montage Gold shares could then be had for $1.69.