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The funding involves Wheaton Precious Metals and strategic shareholder Zijin Mining, increasing Montage’s available liquidity to approximately $968 million, including $143 million in cash reserves.
Additionally, the company is providing Montage a $75 million secured debt facility for project costs. “Supported by strong shareholder backing from the Lundin Group and Zijin Mining, the Koné Project is expected to significantly boost Wheaton’s near-term annual gold production and further strengthen our peer-leading growth trajectory,” Smallwood noted.
“We are extremely pleased to have concluded our financing through the formation of strategic partnerships with both Wheaton and Zijin who share our vision of creating a premier African gold producer,” Montage CEO Martino De Ciccio said.
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