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New Listing: Montage Gold (TSXV:MAU)

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Montage Gold is a Canadian-based precious metals exploration and development company focused on opportunities in the Ivory Coast, Africa.

Additional Information:

Company: Montage Gold
Website: http://www.MontageGoldCorp.com
Stock Symbol: TSXV: MAU
Date Published: Oct 26, 2020
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Montage Gold is one of the latest new listings on the TSX Venture Exchange, trading under the symbol “MAU”, following its initial public offering.

The company raised gross proceeds of $30 million from the placement of 27,272,728 shares priced at $1.10 per share.

Raymond James Ltd. and Stifel GMP acted as co-lead underwriters for the offering.

Montage Gold is a Canadian-based precious metals exploration and development company focused on opportunities in the Ivory Coast, Africa.

The Ivory Coast, or Côte d’Ivoire, produced a record 32.5 tonnes of gold in 2019, up 35% from 24 tonnes in 2018.

Hugh Stuart, CEO, stated: “Having been involved in this project off and on for the last 12 years it is extremely satisfying that we have now fitted the Morondo Gold Project along with a significant portfolio of other Exploration Permits and Permit Applications in Côte d’Ivoire into a vehicle that has both the will and backing to move it forward aggressively. On behalf of the Board and Management I would like to thank both existing and new shareholders for the strong show of support demonstrated by the success of the Offering and the fact that it was significantly over-subscribed. We are looking forward to advancing Morondo and keeping the market informed of our progress along the way.”

The company’s main mineral interests include the Morondo Gold Project, the Korokaha Gold Project and the Bobosso Gold Project.

The company’s flagship Morondo Gold Project comprises the 300 square kilometer Morondo Exploration Permit and four exploration permit applications totaling 1,143 square kilometers.

The Morondo Exploration Permit hosts the Koné deposit which currently comprises an Inferred Mineral Resource of 52.5 million tonnes grading 0.91 grams per tonne for 1,536,000 ounces of gold, based on a 0.5 gram per tonne cut-off grade.

The company currently has 20,000 meters of drilling underway to expand the Inferred Mineral Resource with another 30,000 meters planned in order to upgrade to Indicated Mineral Resource.

The shares are trading at $1.10.

For more information, please visit the company’s website www.MontageGoldCorp.com, contact Adam Spencer, Executive Vice President, Corporate Development, at aspencer@MontageGoldCorp.com

I’m Megan Edwards for Investmentpitch Media