Orezone Gold Fully Exercises Over-Allotment Option for Growth
Orezone Gold's Ambitious Expansion Plan
Orezone Gold Corporation (TSX: ORE, OTCQX: ORZCF) recently made headlines with its bold move to fully exercise its over-allotment option related to a significant financing deal. By doing so, they secured an additional 6,402,450 common shares at a price of C$0.82 per share, which generated gross proceeds of C$5,250,009.
Strategic Use of Funds
The funds obtained from this initiative are pivotal for Orezone Gold as they aim to accelerate stage 2 of the hard rock expansion at the Bomboré Gold Mine. This strategic expansion is crucial for enhancing both the annual and life-of-mine gold production through the processing of hard rock mineral reserves.
In addition, these proceeds will contribute to further exploration efforts at Bomboré and will be allocated towards working capital and general corporate purposes. The company’s commitment to sustainable development and responsible mining practices guides their operations as they simultaneously seek profitability and environmental stewardship.
About Orezone Gold Corporation
Orezone Gold Corporation is at the forefront of the gold production industry in West Africa. Their flagship project, the Bomboré Gold Mine in Burkina Faso, successfully reached commercial production on December 1, 2022. The mine is currently undergoing a transition to hard rock processing, paving the way for a substantial increase in gold output.
Led by a team with extensive experience in project management, construction, and operations, Orezone focuses heavily on social responsibility and sustainable practices. This not only enhances their market position but also ensures that they operate in harmony with the communities surrounding their projects.
Technical Insights and Future Outlook
The company’s technical report entitled Bomboré Phase II Expansion, Definitive Feasibility Study provides critical insights into the future of the mine. This document is readily available on SEDAR+ and the company's website, highlighting their commitment to transparency and informed decision-making.
As Orezone Gold continues to forge ahead with its plans, they remain cautiously optimistic about the future, taking into consideration the various market conditions and operational challenges they may encounter. This proactive approach positions them well to adapt and thrive in an evolving industry landscape.
Contact Information
For those interested in learning more about Orezone Gold Corporation, inquiries can be directed to:
Patrick Downey
President and Chief Executive Officer
Kevin MacKenzie
Vice President, Corporate Development and Investor Relations
Tel: 1 778 945 8977 / Toll-Free: 1 888 673 0663
info@orezone.com
Website: www.orezone.com
Frequently Asked Questions
1. What is the significance of Orezone's over-allotment option?
Orezone's over-allotment option allows them to raise additional funds, crucial for expanding their Bomboré Gold Mine operations.
2. How will Orezone use the proceeds from the over-allotment option?
The proceeds will support the hard rock expansion, further exploration, working capital, and general corporate needs.
3. What is the Bomboré Gold Mine?
Bomboré is Orezone’s flagship project located in Burkina Faso, which has entered commercial production and is expanding its capacity.
4. What is Orezone’s commitment to sustainability?
Orezone emphasizes social responsibility and sustainable practices in their operations, ensuring they benefit local communities and the environment.
5. Who can I contact for more information about Orezone?
You can reach out to Patrick Downey or Kevin MacKenzie via their official contact numbers or email.
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