Orezone Gold Corporation · TSX:ORE
Orezone Gold — Investor Presentation (January 2025)
20 slides from Orezone Gold's investor presentation, Jan 27, 2025
Slide 1: Build. Operate. Expand. Corporate Presentation January 2025
TSX ORE OTCQX ORZCF BUILD. OPERATE. EXPAND. Corporate Presentation | January 2025 BOMBORÉ GOLD MINE BURKINA FASO
Slide 2: Disclaimer
DISCLAIMER This presentation contains certain “forward-looking information” within the meaning of applicable Canadian recommendations are not intended as investment advice and should not be relied upon by investors to make securities laws. Forward-looking information and forward-looking statements (
Slide 3: Build | Operate | Expand
BUILD | OPERATE | EXPAND Oxide plant built >100,000 oz/yrv Tier 1 potential 14km reserve defined on-time and under-budget Operations Exploration system, average reserve depth of <40m Stage 1 Commercial Production >170,000 oz/yr Drilling Multi-year Expansion Production Guidance Achieved Underway Dril
Slide 4: Bomboré: Q4 & FY2024 Production Highlights
BOMBORÉ: Q4 & FY2024 Production Highlights HEALTHY & SAFETY GOLD PRODUCTION GOLD SALES HEALTH & SAFETY PRODUCTION Q4: 36,502oz Q4: 34,833oz SALES 0 LTIs 37% increase QoQ Average realized price of US$2,632/oz, US$91.7M in revenue 1.33M hours worked during quarter 5.37M hours worked in 2024 FY2024: 11
Slide 5: 3 Year Production Forecast
BUILD | OPERATE | EXPAND 3 YEAR PRODUCTION FORECAST Bomboré Three-Year Production 2024 – 2026 (100% Basis) 225 - FY-2024 Guidance 250koz • Gold Production: 110,000 - 125,000oz 170 - 185koz • AISC: $1,400 - $1,475/oz 141koz 115 - 119koz 130koz Strong production growth and reduction in AISC • >170,000
Slide 6: Stage I Hard Rock Expansion – 2.5Mtpa
BUILD | OPERATE | EXPAND STAGE I Hard Rock Expansion – 2.5Mtpa Estimated Capex of $85M • Fully financed Existing Expansion ahead of schedule Oxide Plant 5.0Mtpa • Concrete 3-months ahead of Jaw Crusher SAG Mill schedule • Engineering ahead of schedule, bulk quantities in line with budget Ore Bin • A
Slide 7: Stage I Hard Rock Expansion – 2.5Mtpa
BUILD | OPERATE | EXPAND STAGE I Hard Rock Expansion – 2.5Mtpa 1 2 3 4 5 1. Hard rock expansion area with oxide plant and shared infrastructure 2. Dump pocket & crusher foundation 3. CIL ring beams 4. SAG mill shells 5. First delivery of hard rock mining fleet onsite 7
Slide 8: Key to Our Success: Commitment to Local Content
KEY TO OUR SUCCESS Commitment to Local Content Local Workforce 97% Burkinabe First to use an in-country workforce mining contractor • Well established workforce in • Very successful ramp-up and country with 16 mines developed performance since commissioning • Only four expats • Now performing simila
Slide 9: Evolving Exploration Outlook
BUILD | OPERATE | EXPAND EVOLVING EXPLORATION OUTLOOK Prior to 2017: heap leach focus P17 2017 to 2022: hard rock integration • New management team North Zone • 2.4Moz Mineral Reserve1 P16 • Average reserve pit depth <40m • Only 38 holes deeper than 250m Siga P11 2024 onward: expanding scope P8P9 •
Slide 10: North Zone Long Section Looking Southwest
NORTH ZONE LONG SECTION Looking Southwest Highlighted intercepts below the reserve pit 10
Slide 11: P17 Long Section Looking North-northwest
P17 LONG SECTION Looking North-northwest Highlighted intercepts 11
Slide 12: Current Position
NS OREZONE Current Position
Slide 13: Orezone Significantly Undervalued
OREZONE Significantly Undervalued 2024 Production Market Capitalization Stage 1 Hard Rock Expansion Source: S&P Capital IQ Pro & Public Disclosure as at close on December 31, 2024 13
Slide 14: Financial Position
FINANCIAL POSITION Financial position 1 Outlook $66.9M cash Expected $80M in senior debt outstanding upon completion of Stage I hard rock plant $68.1M senior debt with Coris Bank in late 2025 • 9 - 10% interest rate Debt free by Q3-2027 – with senior debt and convert fully repaid $35M convert with R
Slide 15: Capital Structure & Research Coverage
CAPITAL STRUCTURE & Research Coverage TSX: ORE, OTCQX: ORZCF Major Shareholders3 Shares Issued1 466,107,137 Shares Fully Diluted2 541,800,325 Market Capitalization1 C$298M 20% Nioko 46% 16% Retail & Other Analyst Target Price and Recommendations RCF Broker Date Recommendation Target Price 9% Canacco
Slide 16: Management & Directors
MANAGEMENT & DIRECTORS Significant Hands-on Experience MANAGEMENT BOARD PATRICK DOWNEY ROB HENDERSON PATRICK G. DOWNEY TARA HASSAN President, CEO and Director VP, Technical Services President, CEO and Director Director Former President, Chief Executive Officer and Director VP, Corporate Development
Slide 17: Appendix
NS OREZONE Appendix
Slide 18: 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 19: 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 20: Contact
CONTACT Vanessa Pickering 604-202-2940 vpickering@orezone.com www.orezone.com