The Lundin Group, which includes Lundin Mining (TSX: LUN), Lundin Gold (TSX: LUG) and Lucara Diamond (TSX: LUC) among others, was planning to invest C$17.8 million for a 19.9% stake, Montage said. The amounts may change with the revised offering.
Montage appointed former Endeavour Mining (TSX: EDV; LSE: EDV) deputy chief financial officer Martino De Ciccio as CEO to replace co-founder Richard Clark, who will remain as a director.
“I am very excited to join Montage with the goal of creating a leading multi-asset African gold producer,” De Ciccio said in a release. “I am thrilled to begin this new endeavour with the strong support of the Lundin Group.”
The Koné gold project represents the largest and most advanced standalone gold project in West Africa and is advancing towards an expected construction decision this year, the company says. The project has a $1.1 billion after-tax net present value at a 5% discount rate and a…
