The Globe and Mail reports in its Friday edition that Canaccord Genuity analyst Carey MacRury rates Montage Gold "speculative buy" in new coverage. The Globe's David Leeder writes in the Eye On Equities column that Mr. MacRury set a share target of $7.50. Analysts on average target the shares at $6.54. Mr. MacRury notes that the company has the support of strategic shareholders including the Lundin Group (19.6-per-cent stake) and Zijin Mining (9.5 per cent). Mr. MacRury says in a note: "Kone is a fully permitted, conventional open-pit project. The 2024 Feasibility Study (FS) outlines life-of-mine (LOM) average annual production of 223koz (more than 300koz for the first eight years) at a mine-site all-in sustaining cost (AISC) of $1,081/oz (at $3,000/oz) over an initial 16-year mine life based on 4.01Moz of reserves. The FS generates an after-tax NPV5-per-cent of $3.1-billion and an IRR of 66.2 per cent at $3,000/oz gold. Construction is well advanced and progressing on time and on budget, with 44 per cent of the $835-million capital budget committed with first gold pour targeted for Q2/27. Montage owns 90 per cent of the project with the government of Cote d'Ivoire holding a 10-per-cent free carried interest."