Montage Gold

MAUTF

Gold · Basic Materials

Price

$10.81

+0.17 (+1.60%)

Market Cap

$4.36B

Exchange

Other OTC

Winston Score

–

No score yet — Winston is napping.

We couldn’t gather enough financial data to score this stock reliably.

Share count rising — dilution

+239.9% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 105.0M (2021) → 357.0M (2025)

Montage Gold Corp. is a Canadian mining company focused on developing a large gold project in West Africa. Its main asset is the Koné Gold Project, located in Côte d'Ivoire (Ivory Coast), which is one of the largest undeveloped gold deposits in West Africa. The company does not yet produce gold — it is still in the development and construction phase, working toward becoming a gold producer.

Montage Gold makes no revenue yet, which explains the zero margins. It funds operations by raising money from investors and financial partners. The company operates almost entirely in Côte d'Ivoire, and its competitive position depends heavily on the size and quality of the Koné deposit, which is large enough to potentially support a long mine life. The key risk is that mine construction is expensive and complex — cost overruns, permitting delays, or falling gold prices could significantly hurt the company before it ever ships its first ounce.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

Revenue data limited

EPS Growth

+55.1% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

Research and development spending

Insider Activity

24.1%ownership

Insiders own a meaningful stake in the company

Cash Runway

~3 months

$132M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Montage Gold has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

N/A

—

Data not available

Operating Margin

N/A

—

Data not available

ROCE

-6.7%

Weak — -6.7% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

N/A

—

Data not available

EPS YoY

N/A

—

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

N/A

—

Data not available

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Stability

Debt / Equity

0.06

Conservative — low debt load (0.06)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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