Orezone Gold Corporation · TSX:ORE
Orezone Gold — Investor Presentation (May 2024)
21 slides from Orezone Gold's investor presentation, May 17, 2024
Slide 1: Build | Operate | Expand – Bomboré Gold Mine, Burkina Faso
TSX ORE May 2024 OTCQX ORZCF BUILD I OPERATE I EXPAND BOMBORÉ GOLD MINE BURKINA FASO
Slide 2: Disclaimer
DISCLAIMER This presentation contains certain “forward-looking information” within the meaning of applicable Canadian This presentation also contains references to estimates of mineral resources and mineral reserves. The securities laws. Forward-looking information and forward-looking statements (to
Slide 3: Build | Operate | Expand
BUILD I OPERATE I EXPAND Operations 5.9Mtpa oxide plant built >100,000 oz/yr ACHIEVED DECEMBER 2022 on-time and under-budget DEBT FINANCING IMMINENT Construction of an Expansion independent parallel Stage 1 CONSTRUCTION TO START MID-2024 >170,000 oz/yr 2.5Mtpa hard rock plant FIRST GOLD LATE 2025 Op
Slide 4: Burkina Faso: An Established Gold Mining Jurisdiction
BURKINA FASO An Established Gold Mining Jurisdiction Ideal Location 90-minute drive from the capital city Ease of logistics and security Skilled local labour force > 18Moz Gold within 50km West African Resources: Sanbrado, Toega and Kiaka New high-grade gold discoveries Supportive Mining Jurisdictio
Slide 5: Phase I: Solid 1st Year of Production
BUILD | OPERATE | EXPAND PHASE I Solid 1st Year of Production Built on-time FY-2023 production and under-budget guidance achieved 141,425oz Au produced at an AISC of $1,127/oz sold Operating Strong balance above nameplate sheet Designed for 5.2Mtpa Cash of US$15.6M (Q1-2024) and achieved 5.8Mtpa Red
Slide 6: Bomboré Q1 Production and FY2024 Guidance
BUILD | OPERATE | EXPAND BOMBORÉ Q1 Production and FY2024 Guidance Q1-2024 Gold Production 30,139oz $1,324/oz $2,066/oz $64.5M Gold production AISC Average Realized Price Total Sales PRODUCTION AND COSTS GUIDANCE Operating Guidance (100% Basis) Unit 2024 Guidance Gold Production oz 110,000 - 125,000
Slide 7: 3 Year Production Forecast
BUILD | OPERATE | EXPAND 3 YEAR PRODUCTION FORECAST (2024 – 2026) Bomboré Three-Year Production Strong production growth and (100% Basis) 225 - reduction in AISC 250Koz 170 - • >170,000oz/yr by 2026 185Koz 141Koz 110 - 115 - Focus will be on: 125Koz 130Koz • Deleveraging the balance sheet • Building
Slide 8: Stage 1 Hard Rock Plant
BUILD | OPERATE | EXPAND STAGE 1 Hard Rock Plant Estimated Capex of $80M • Financed through debt and cash flow Early-works underway with major construction to commence in mid-2024 First Gold: late 2025 Simple flowsheet Designed for expansion 8
Slide 9: Stage 2 Opportunities & Future Growth
BUILD | OPERATE | EXPAND STAGE 2 Opportunities & Future Growth Bomboré Three-Year Production Targeting Operational 225 - (100% Basis) 250Koz 250,000oz/yr upside 170 - 185Koz 141Koz 110 - 115 - 130Koz Multiple low-cost 125Koz opportunities to expand throughput 2023A 2024E 2025E 2026E Target Stage 1 S
Slide 10: Exploration Upside Along Strike and at Depth
BUILD | OPERATE | EXPAND EXPLORATION UPSIDE Along Strike and at Depth Reserves delineated along P17 >14km of broader mineral trend Deepest reserve pit is 180m P16 • Average depth <40m Average depth of drilling Maga Siga is ~200m P11 First phase of structural P8P9 review recently completed – future e
Slide 11: Current Position & Market Outlook
Current Position & Market Outlook
Slide 12: Positioned for a Re-Rate
POSITIONED FOR A RE-RATE Executed on plan ✓ 2022: Oxide plant built on-time & under-budget ✓ 2023: Achieved Year-1 guidance Challenges x PPA provider did not deliver on contract • 2023: Forced to run on high-cost diesel power and construct a $19.3M powerline • Orezone has submitted claim for damages
Slide 13: Positioned for a Re-Rate
POSITIONED FOR A RE-RATE 200 1 0 100 0 0 unior roducer African roducer Orezone Source: S&P Capital IQ Pro as at close on May 17, 2024 13
Slide 14: Q1-2024 West African Comparables
Q1-2024 West African Comparables The Bomboré mine achieved an AISC of US$1,324/oz in Q1-2024, ranking it as one of the lowest cost, highest margin gold mines in West Africa Comparable West African Gold Mines AISC (US$/oz) Production (oz) Asset Owner Country Q1-2024 Q1-2023 Q1-2024 Q1-2023 Bibiani As
Slide 15: Capital Structure & Research Coverage
CAPITAL STRUCTURE & Research Coverage TSX: ORE, OTCQX: ORZCF – As at March 31,2024 Major Shareholders2 Shares Issued 368,303,845 Shares Fully Diluted1 428,281,921 19% RCF Senior Debt ~US$56M 11% Cash US$15.6M Equinox (Mason Hill) Market Cap (April 30, 2024, TSX close – C$0.82) C$302M 4% Aegis Analys
Slide 16: Conclusions: Ongoing Project Execution
CONCLUSIONS Ongoing Project Further Upside Execution Exploration: open at depth along strike, 2022: Phase I oxide plant built on-time new emerging P17 trend & regional targets and under budget Operations: Stage 2 hard rock expansion 2023: Achieved guidance in first full year & numerous potential reg
Slide 17: Management & Directors
MANAGEMENT & DIRECTORS Significant Hands-on Experience MANAGEMENT BOARD PATRICK DOWNEY ROB HENDERSON PATRICK G. DOWNEY KATE HARCOURT President, CEO and Director VP, Technical Services President, CEO and Director Director Former President, Chief Executive Officer and Director Non-executive Director o
Slide 18: Appendix
NS OREZONE Appendix
Slide 19: Community Relations Ongoing Programs
COMMUNITY RELATIONS Ongoing Programs Market Gardens New Farming Developed Methods Agronomist assists The introduction of new in marketing and pricing farming methods, particularly while also contributing to the the half-moon farming development of new specialty technique, has proven cash crops, such
Slide 20: Resource and Reserve Estimates
RESOURCE AND RESERVE ESTIMATES Bomboré Gold Project Resource Estimate as of March 28, 20231 Measured Indicated Measured and Indicated Inferred Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Mt Au g/t Au koz Mt Au g/t Au koz Mt Au g/t Au koz Mt Au g/t Au koz Oxide 16.
Slide 21: Contact
CONTACT Vanessa Pickering 604-202-2940 vpickering@orezone.com www.orezone.com