Orezone Gold Corporation Achieves Record Gold Production
Orezone Gold Corporation Reports Impressive Q4 Results
Orezone Gold Corporation (TSX: ORE, OTCQX: ORZCF) recently revealed its remarkable gold production results for the fourth quarter and the entirety of 2024, showcasing the impressive capabilities of its Bomboré Gold Mine.
Record Gold Production Highlights
The company saw a significant quarterly gold production of 36,502 ounces during Q4. This achievement also contributed to an annual total of 118,746 ounces, which comfortably exceeded the company’s guidance range, set between 110,000 and 125,000 ounces.
Further emphasizing the operational success, Orezone recorded a record quarterly ore processing of 1.65 million tonnes. This translates to an impressive daily processing rate of 18,163 tonnes, 27% higher than the design capacity. In conjunction with increased throughput, gold recoveries remained robust, reaching 89.1% for Q4.
Safety and Revenue Achievements
Taken together with these operational milestones, Orezone continues to maintain an unblemished safety record with zero lost-time injuries throughout 2024. This commitment to safety is a vital part of the company’s operational ethos.
The financial benefits of these production figures are notable, with gold sales reaching 34,833 ounces in Q4 alone, resulting in an impressive revenue of US$91.7 million, thanks to an average realized price of US$2,632 per ounce. Across the full year, gold sales totaled 118,697 ounces, generating revenue of US$282.9 million at an average price of US$2,384 per ounce.
Looking Ahead to Growth in 2025
Patrick Downey, President & CEO of Orezone, remarked on the promising trends, stating that the fourth quarter marked a significant achievement for the Bomboré Gold Mine, especially with the exceptional mill throughput. The robust performance in Q4 signifies a strong conclusion to the year, setting a solid foundation for future endeavors.
As the company looks toward a transformational 2025, the expansion of the hard rock plant is well underway, projected for completion and commissioning by the fourth quarter of this year. This expansion is critical, as it has the potential to elevate gold production by up to 50%. The operational design of the new plant parallels that of the existing oxide plant, which demonstrates a conservative yet effective capacity approach.
Orezone anticipates sharing regular updates regarding the construction milestones and exploration campaigns at Bomboré. These explorations aim to build a significant long-term global resource base of 7 to 10 million gold ounces, ensuring Orezone’s place in the industry as a reliable producer and explorer.
Contact Information
For more information, interested parties can reach out to Patrick Downey, President and Chief Executive Officer, or Vanessa Pickering, Manager of Investor Relations. They can be contacted at:
Tel: 1 778 945 8977 / Toll Free: 1 888 673 0663
Email: info@orezone.com
Website: www.orezone.com
Frequently Asked Questions
What were Orezone's gold production numbers for Q4 2024?
Orezone produced 36,502 ounces of gold in Q4 2024.
How did this production compare to previous quarters?
This represents a 37% increase compared to Q3 2024.
What is Orezone's safety record for 2024?
The company reported zero lost-time injuries for the entire year of 2024.
What are the financial results for Orezone in Q4 2024?
Orezone generated US$91.7 million in revenue from gold sales in Q4 2024.
What future plans does Orezone have for the Bomboré mine?
Orezone plans to complete the hard rock plant expansion by the end of 2025, aiming for a 50% increase in production capacity.
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