The Globe and Mail reports in its Friday, Sept. 5, edition that Scotia Capital analyst Ovais Habib rates Montage Gold "sector outperform" in new coverage. The Globe's David Leeder writes that Mr. Habib set a share target of $6.25. Analysts on average target the shares at $6.11. Mr. Habib sees Montage Gold "building West Africa's next major gold mine" through its flagship asset, the development-stage Kone gold project in the Ivory Coast. Mr. Habib says in a note: "The project is a large-scale, low-cost open-pit development anchored by the Kone and Gbongogo deposits, along with upside for exploration and strategic minority interests in regional gold projects. Backed by a robust feasibility study outlining a 16-year mine life and average annual production of 223 thousand ounces at an all-in sustaining cost (AISC) of $998/oz, the project is currently under construction, fully permitted, and on track for first gold in Q2/27. Montage is fully financed for the initial capital costs of the Kone project, with $825-million in non-equity funding secured. This includes a $625-milling gold stream and $75-million loan facility from Wheaton Precious Metals, and a $75-million subordinated stream and $50-million loan from Zijin Mining."
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