New Piece of Gold Production Infrastructure Arrives as Quebec Project Moves Closer to Commissioning

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1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

ESGold Corp. (ESAU:CSE; ESAUF:OTCQB; Z7D:FSE) announced that a tilting-type melting furnace has been delivered to its Montauban Gold-Silver Project in Québec.

According to the company, the propane-fired furnace is designed for high-temperature melting applications and will form part of the project's onsite precious metals handling and doré pouring infrastructure. The unit includes a hydraulic tilting system, thermocouple temperature monitoring, supporting crucibles, and is rated to a maximum temperature of 1300°C with a stated metal charge capacity of 150 kilograms.

The company said the furnace delivery represents another step in its ongoing construction and commissioning preparation activities at Montauban. ESGold stated that site work continues across infrastructure, mill circuit components, gold room preparations, and related operational systems. The furnace joins processing equipment already delivered to the site, including Humphrey spirals and shaker tables that will be used in the project's gravity recovery circuit.

ESGold said the furnace is intended to support future onsite melting and doré pouring once the Montauban operation is commissioned and operating. The equipment is expected to be used in connection with the company's planned gold and silver recovery circuit, which includes Merrill-Crowe processing for precious metal recovery from permitted tailings material.

"The delivery of this furnace is another practical and visible milestone in our transition from construction toward operations at Montauban," Gordon Robb, Chief Executive Officer of ESGold Corp., said in a company news release. "This unit is part of the infrastructure required to move from mineral recovery to doré production, and it reflects the steady progress being made across the project."

Robb added that major components, including the Humphrey spirals, shaker tables, and furnace, are now on-site as the company advances toward commissioning.

ESGold also reported that its current work program at the fully permitted Montauban Gold-Silver project includes installation and integration of key processing components, development of onsite precious metals handling infrastructure, and continued preparation of the gold room and supporting operational systems. The company stated that it is also continuing integration of geological, geophysical, and historical datasets as part of its broader Montauban exploration model.

Expanded Land Position and Equipment Deliveries Draw Third-Party Attention

In a June 11 commentary, The Gold Advisor editor Peter Krauth discussed ESGold's receipt of a doré melting furnace at its Montauban project in Québec, describing it as "another infrastructure milestone" for the project.

Krauth noted that the propane-fired furnace was designed for high-temperature melting and would be used for metals handling and doré pouring as the company advanced toward production. He wrote that it was "another central step in the team's ongoing construction and commissioning preparations, with first operations targeted for this year."

According to Krauth, the furnace was designed to reach temperatures of up to 1,300°C and process up to 150 kilograms of metal. He also noted that the unit would support the project's planned gold and silver recovery circuit, including Merrill-Crowe processing of permitted tailings material.

Krauth stated that the furnace joined other processing equipment already onsite, including Humphrey spirals and shaker tables, as the company continued building its processing infrastructure.

Referencing the company's operational progress, Krauth wrote that ESGold remained focused on "installing and integrating critical systems while preparing the site for operations." He also cited CEO Gordon Robb, who stated: "The delivery of this furnace is another practical and visible milestone in our transition from construction toward operations at Montauban. This unit is part of the infrastructure required to move from mineral recovery to doré production, and it reflects the steady progress being made across the project."

Krauth further noted that ESGold continued to develop its exploration model through the integration of geological, geophysical, and historical data to support targeting efforts across the Montauban district.

According to a June 11 report from Atrium Research analysts Riley Venton and Ben Pirie, ESGold's receipt of a doré melting furnace at the Montauban Project represented "another key step in commissioning preparation as Montauban continues to steadily progress toward first production." The analysts noted that the furnace delivery followed the company's doré offtake agreement with Ocean Partners and joined "a growing inventory of key processing equipment at the site." Atrium stated that ESGold "continues to advance the fully permitted, fully funded Montauban Project toward first production later this year" and maintained its BUY rating and CA$1.30 per share target price.

In their assessment, Venton and Pirie wrote: "The furnace delivery marks another tangible step for ESGold as the Company moves toward first production at Montauban in the back half of this year." They added that "with the Ocean Partners agreement securing a buyer for doré, and key equipment deliveries continuing to arrive, the project remains on track to begin generating cash in the near-term." The analysts also stated that "the exploration upside on the broader land package is significant, and the Company continues to advance exploration initiatives."

Construction, Commissioning, and Exploration Activities Continue

ESGold's current construction and commissioning preparation program at Montauban includes the installation and integration of the processing infrastructure required for operations. The company stated that ongoing work includes the development of on-site precious metals handling infrastructure, the preparation of the gold room, and the advancement of supporting operational systems.

According to the company's investor presentation dated May 2026, the Montauban project is fully permitted and fully funded, with a completed mill building designed for a processing capacity of 1,000 tons per day. The project includes a 20,000-square-foot processing facility and laboratory, 1.3 kilometers of service hydropower, all-weather road access, and permits for construction and operation.

The company reported that major permits have been secured, plant and infrastructure are largely installed, resource verification and metallurgical testing have been completed, and an integrated 3D geological model has been completed. ESGold also stated that it expanded its land position to 485 claims covering approximately 24,414 hectares around Montauban. 

On the exploration side, ESGold said it is continuing to integrate geological, geophysical, and historical datasets. Company materials describe an integrated 3D geological model that identified a mineralized corridor extending approximately 900 meters in depth and more than 2 kilometers along strike. The company also reported plans for an expanded Ambient Noise Tomography survey covering approximately 70 square kilometers and indicated that integration of the model into drill targeting and a step-out diamond drilling program is anticipated, subject to permitting and logistics.

Ownership & Share Information¹

ESGold Corp. has a market cap of CA$69 million, with 91.44 million shares outstanding. The company's 52-week range is CA$0.19-CA$1.44.

Institutions own 5% of shares, while Management & Insiders own 60%. The remaining 35% of shares are held by Retail.