M&A

Orca closes Avant-Montage deal

Sudan gold developer owns 45% of Montage Gold Corp

Staff reporter
Orca Gold has been successful in building a significant gold resource base in Sudan

Orca Gold has been successful in building a significant gold resource base in Sudan

Montage's board includes Orca CEO Richard Clark, president Hugh Stuart, and directors David Field and Kevin Ross, plus Avant's Adam Spencer.

"Orca views its ownership interest in Montage as a strategic investment," it said.

"It provides exposure for the company's shareholders to an impressive property and resources portfolio in Cote d'Ivoire and Burkina Faso as well as a solid, well-funded, treasury independent of Orca.

"Montage intends to immediately commence and focus work on its 100%-owned Morondo project in Cote d'Ivoire with an aim to rapidly increase the resource inventory to plus-2 million ounces of gold … [and] assess and prioritise Montage's extensive property portfolio for evaluation."

Orca's focus is the 70%-owned Block 14 gold project in Sudan where a 2018 feasibility study highlighted sound economics for a large-scale (US$500 million) plant and mine producing up to 228,000oz a year over 13-14 years at AISC of US$780/oz off a 2.8Moz reserve/3.3Moz resource base.

 

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.