Orezone Gold


Primary ticker: TSX:ORE, OTCQX:ORZCF
Stage of development: Exploration, Development, Production
Primary minerals: Gold
Project to promote: Bomboré Gold Mine
Project location: Burkina Faso
Website: www.orezone.com

Orezone Gold Corporation is a Canadian gold mining company operating the open pit Bomboré Mine in Burkina Faso.

Orezone is focusing on mining and processing the Phase I near surface free-dig oxides at a planned annual throughput of 5.2 million tonnes. The Company believes that Bomboré has a significant underlying sulphide resource to support a substantially larger Phase II expansion. A 77,000 m infill and expansion drill program is ongoing and once completed, the Company plans to issue an updated mineral resource and reserve statement and feasibility study, as part of this Phase II expansion. It is expected that the studies will be completed in H1-2023 to be followed by a production decision.

Orezone is led by an experienced team focused on social responsibility and sustainability with a proven track record in project construction and operations, financings, capital markets and M&A.

Cash: USD$24M
Debt: USD$124M

Major shareholders:

RCF – 20%
VAN ECK – 5%
AEGIS – 3%
EARTH – 2%
Management Ownership – 5%

Management Profile

Patrick Downey – President, CEO & Director
Patrick Downey, President, CEO & Director, has over 30 years of international experience in the resource industry. Mr. Downey held the position of President, Chief Executive Officer and Director of Elgin Mining Inc., Aura Minerals Inc. and previously Viceroy Exploration Ltd. before its acquisition by Yamana Gold Inc. in 2006. He has held numerous senior engineering positions at several large-scale global gold mining operations and has also held operating positions at several mining projects for Anglo American Corporation in South Africa. Mr. Downey was a member of the boards of Claude Resources and Dalradian Resources before their recent successful acquisitions and he is a member of the board of a number of active resource companies. He holds a Bachelor of Science (Hon.) degree in Engineering from Queen’s University.

What is your rationale for taking part in 121 Mining Investment?

To update existing shareholders and to gain exposure to new funds, family offices and private investors.

What recent news would you like to highlight to investors attending?

September 12, 2022: Orezone Pours First Gold at the Bomboré Mine

What are your key goals in 3 months, 6 months, 12 months?

3 Months
Commercial Production

6 Months
Additional Exploration Results

12 Months
Resource and reserve update along with an expansion study

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Gold market sentiment – Orezone will be cashflowing soon and able to fund its own exploration and expansions despite market conditions.

What do you think makes your company such a compelling investment?

The expansion potential at Bomboré could significantly improve the LOM metrics for the mine.

What are the top 3 key investor takeaways?

– delivered the Bomboré Mine under-budget and on-schedule during a period marked by rapid inflation and COVID-related disruptions
– continued exploration success at the P17 Trend
– oxide and sulphide expansion study to be delivered H1-2023