Montage gold secures us$825 million financing package for the construction of its konÉ project in cÔte d'ivoire

Highlights:  us$825m financing package secured from strategic partners wheaton precious metals and zijin mining to fund the build of the konÉ project in cÔte d'ivoire, increasing montage's liquidity sources to us$968m inclusive of cash on hand wheaton precious metals to provide a u s$625m gold stream and a us$75m loan facility montage retains significant exploration upside as the stream is limited to the konÉ and gbongogo deposits plus a 500-meter boundary and an expanded area of interest until certain dropdown thresholds are met montage can reduce the stream deliveries to nil by supplementing scheduled deliveries with ounces produced from outside of the konÉ and gbongogo deposits, following the delivery of an agreed minimum number of ounces montage can accelerate its deleveraging with flexibility to deliver in excess of its minimum required commitments montage participates in the upside in the gold price as the production payment is based on a gold price sliding scale for the first 5 years, with a minimum transfer price of 20% at a gold price above us$2,100/oz strategic shareholder, zijin mining, demonstrates further support for the advancement of the konÉ project by providing montage with us$125m of funding sources comprised of:   us$50m loan facility with a 9-year tenure with an annual interest rate of sofr + 4%, a 3-year drawdown availability period, and no upfront fees nor commitment fees us$75m fully redeemable  subordinated  gold stream, with the first and second buyback option dates anticipated to occur at the end of 2029 and 2030, respectively vancouver, bc , oct. 23, 2024 /prnewswire/ - montage gold corp. ("montage" or the "company") (tsxv: mau) (otcqx: mautf) is pleased to announce that it has entered into final documentation with both wheaton precious metals international ltd. (a wholly owned subsidiary of wheaton precious metals corp., together with its affiliates, "wheaton") and zijin mining group co. ltd.
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