Orezone Gold Reports First Quarter 2025 Results

About this update from Orezone Gold Corporation

[{"type":"text","content":"Orezone Gold Reports First Quarter 2025 Results\n\n\n\n VANCOUVER, British Columbia, May 14, 2025 (GLOBE NEWSWIRE) --\n \n Orezone Gold Corporation (TSX: ORE, OTCQX: ORZCF)\n \n (“Orezone” or “Company”) is pleased to report its operational and financial results for the first quarter of 2025.   All dollar amounts are in USD unless otherwise indicated and abbreviation “M” means million.\n \n\n\n First Quarter 2025 Highlights\n \n\n\n\n\n Gold production of 28,688 oz\n \n\n\n\n AISC per oz sold of $1,415\n \n\n\n\n Revenue of $82.7M from the sale of 28,943 gold oz at an average realized price of $2,851 per oz\n \n\n\n\n Adjusted EBITDA of $44.2M, Adjusted Earnings attributable to Orezone shareholders of $18.7M, and Adjusted Earnings per Share attributable to Orezone shareholders of $0.04\n \n\n\n\n Liquidity of $130.9M at March 31, 2025 with cash of $102.0M and undrawn senior debt of $28.9M.\n \n\n\n\n Stage 1 of the hard rock expansion reached 45% completion and remains on track for first gold in Q4-2025\n \n\n\n\n Advancing work towards a secondary listing on the Australian Securities Exchange (“ASX”) by mid-2025\n \n\n\n\n\n\n Patrick Downey, President and CEO, commented “The first quarter of 2025 marked another consecutive quarter of positive net earnings and free cash flow, driven by our unhedged exposure to rising gold prices. Production and costs were in line with expectations with annual guidance being maintained. Cash reached a record $102 million at March 31, 2025, providing the Company with significant financial flexibility in pursuing its strategy of expanding gold production at our Bomboré Mine.\n \n\n\n\n Construction of stage 1 of the hard rock expansion made excellent progress in Q1-2025 with project completion hitting 45%. We remain firmly on track for first gold by Q4-2025 which will scale forecasted gold production to over 170,000 oz per year.\n \n\n\n\n We are also well advanced in our ASX listing application and expect that to be completed later in mid-2025. The recent equity financing was well supported by several key Australian mining funds and by our cornerstone investor, Nioko Resources Corporation, through their pro-rata participation. These financings added over $32 million to the Company’s treasury and have provided us t...

More updates from Orezone Gold Corporation