African Gold Boosts Cash Reserves to AU$16 Million Following Montage Share Sale

African Gold Limited (ASX: A1G) has strengthened its balance sheet after selling 2,026,388 shares in Montage Gold for gross proceeds of C$13.62 million (≈AU$14.96 million), realising a 134% gain on its initial investment. The transaction lifts African Gold’s cash balance to around AU$16 million, fully funding aggressive exploration at its Didievi Gold Project in Côte d’Ivoire.

The company is expanding the Blaffo Guetto resource (989 koz at 2.5 g/t Au) with two diamond rigs drilling, while two RC rigs are scheduled for mobilization in November to test high-priority regional targets. Early results include standout intercepts such as 16m @ 13.2 g/t Au and 13m @ 2.8 g/t Au, confirming resource continuity. Didievi’s proximity to 8 million tonnes of existing processing capacity provides a pathway to near-term production and the potential for a standalone operation.

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