The Globe and Mail reports in its Friday, Nov. 28, edition that Beacon Securities analyst Bereket Berhe has reaffirmed his "buy" recommendation for Montage Gold. The Globe's David Leeder writes in the Eye On Equities column that Mr. Berhe's share target climbed $1.50 to $10. Analysts on average target the shares at $7.83. Mr. Berhe says in a note: "Considering only the resources of African Gold's Didievi project in Cote d'Ivoire without giving credit to the project's expansion potential and A1G's other assets, the transaction represents a value of less than $100 per ounce in the ground. However, given the recent exploration successes and the quality of the resource at the Didievi project, we view the acquisition as positive and accretive for Montage and its growth potential. When Montage acquired its initial interest in A1G our view was: Montage's interest in gaining a foothold in future pipeline projects as positive. This potentially is the early building blocks of its vision to become a premier Afrocentric multi-asset gold producer. We have the same view on Montage's other interests as well, including Sanu Gold. Collectively, they all enhance Montage's portfolio of important assets and foothold in the region."
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