Orezone Accelerates Hard Rock Expansion and Targets ASX Listing
Theodore QuinnSunday, Feb 23, 2025 6:22 pm ET


Orezone Gold Corporation (TSX: ORE, OTCQX: ORZCF) has announced plans to accelerate the Stage II hard rock expansion at its Bomboré Gold Mine in Burkina Faso, West Africa, and to dual-list on the Australian Securities Exchange (ASX). These strategic moves aim to maximize free cash flow, optimize gold production, and enhance the company's capital markets profile.
The Stage II hard rock expansion is expected to increase the overall gold production profile at the Bomboré Gold Mine to 220,000-250,000 ounces per year by late 2026. This acceleration is subject to final board approval and is intended to capitalize on the current record high gold prices. The expansion will increase the hard rock plant throughput to 5.0Mtpa through the addition of processing units within the Stage I footprint, including four additional CIL tanks, an oxygen plant, ball mill, thickener, and pebble crusher. Preliminary cost estimates for this Stage II expansion are in the range of US$90 to US$95 million with an estimated 14-month construction period.
Orezone's intention to dual-list on the ASX is expected to enhance the company's trading liquidity and promote better access to investment capital. The ASX has a strong track record as a leading capital markets platform for mining companies, with a deep and liquid pool of institutional investors, including specialist mining-focused funds. By listing on the ASX, Orezone can tap into an incremental pool of capital, which can be used to fund its expansion projects and maximize free cash flow in the coming years.

The planned Stage II expansion and ASX listing are strategic moves that align with Orezone's long-term growth objectives. By accelerating the Stage II hard rock expansion, the company can take advantage of favorable market conditions to boost its revenue and profitability. Dual-listing on the ASX will provide access to an incremental pool of institutional investors, including specialist mining-focused funds, enhancing the company's capital markets profile, trading liquidity, and access to investment capital.
In conclusion, Orezone's plans to accelerate the Stage II hard rock expansion and dual-list on the ASX are well-positioned to maximize free cash flow, optimize gold production, and enhance the company's capital markets profile. These strategic moves align with the company's long-term growth objectives and demonstrate its commitment to creating value for shareholders.
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