The shareholding in Montage, representing 9.6% of those outstanding, was considered by Perseus to be non-core, the company said in an Aug. 21 news release.
Montage currently holds the advanced-stage Koné project in Côte d’Ivoire. An updated feasibility study this year highlighted a 16-year low-cost gold operation capable of producing 300,000 oz. per year through the first eight years. Its life-of-mine all-in sustaining cost is estimated at $998/oz.
Perseus acquired the Montage common shares in May of 2022 through its acquisition of Orca Gold, whose principal asset was a 70% interest in the Block 14 project (since renamed Meyas Sands project) in Sudan.
“We are very pleased to have successfully completed the sale of the Montage shareholding at a price that will largely offset the cost of our recent acquisition of a strategic stake in Predictive’s Bankan gold project in Guinea, which we believe is a potentially attractive…
