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Orezone Gold Reports Second Quarter 2024 Results
VANCOUVER, British Columbia, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Orezone Gold Corporation (TSX: ORE, OTCQX: ORZCF) (“Orezone” or “Company”) reported its operation
About this update from Orezone Gold Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Orezone Gold Corporation (TSX: ORE, OTCQX: ORZCF) (“Orezone” or “Company”) reported its operational and financial results for the three and six months ended June 30, 2024. The Company will host a conference call and webcast on August 7, 2024 commencing at 8:00am PT to discuss its Q2-2024 results. Additional details are provided at the end of this press release. Patrick Downey, President and CEO, commented “Second quarter results were impacted by lower-than-expected grid power availability, and by lower scheduled head grades per the 2024 mine plan. Operating and financial results are anticipated to be significantly stronger in the second half of 2024 as mining ramps up in our newest mining areas, Siga East and Siga South, which will provide a steady source of higher-grade, soft oxide ore to the mill. This outlook is further underscored by a resumption in grid power availability to historical levels, which for the month of July exceeded 95%. While the temporary reduction in grid power availability in H1-2024 presented a challenge, our operating team proved its resiliency, further optimizing and increasing plant throughput, which culminated in a record 525,000 tonnes processed in the month of June. This performance has continued into the third quarter, and positions the Company well to achieve its 2024 guidance. After the quarter end, the Company announced a $105M financing package and positive construction decision for the Bomboré Phase II hard rock expansion, in addition to a multi-year discovery focused drill campaign. The Company looks forward to providing further announcements on these strategic initiatives in upcoming months.” 2024 SECOND QUARTER HIGHLIGHTS AND SIGNIFICANT SUBSEQUENT EVENTS (All mine site figures on a 100% basis) Q2-2024 Q2-2023 H1-2024 H1-2023 Operating Performance Gold production oz 25,524 35,482 55,663 76,783 Gold sales oz 24,937 33,608 56,166 76,747 Average realized gold price $/oz 2,334 1,970 2,185 1,926 Cash costs per gold ounce sold1 $/oz 1,386 924 1,242 854 All-in sustaining costs1 (“AISC”) per gold ounce sold $/oz 1,613 1,109 1,452...