Q4 and Full Year 2023 Production Results
Gold production totalled 33,916oz during the fourth quarter, and 141,425oz for the full year 2023, achieving annual guidance of 140,000 to 155,000oz.
Gold sales during the quarter were 33,782oz at an average realized price of
For the full year, gold sales totaled 139,696oz at an average realized price of
Bombore Connection to the
The powerline replaces the use of onsite diesel gensets for power, significantly lowering our operating costs and carbon footprint.'
Phase II Expansion
Early works for the Bombore Phase II expansion commenced in the fourth quarter of 2023. These activities included: ordering of the SAG mill, early-stage engineering, and bulk earthworks (Photo 2 below) on the hard rock mill site.
Discussions with our senior lender,
About
The Company is mining and processing the Phase I near surface free-dig oxides at a throughput of 5.9 million tonnes per annum (Mtpa). The Company's planned Phase II Expansion consists of an independent 4.4Mtpa hard rock plant operating alongside the existing oxide plant to deliver a significant increase in annual gold production at a low incremental capital cost. Construction of the new 4.4Mtpa hard rock plant will enable Bombore to produce an average of 209,000 gold oz/year at a mine-level AISC of
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.
The technical report entitled Bombore Phase II Expansion, Definitive Feasibility Study is available on SEDAR+ and the Company's website.
Contact:
Tel: 1 778 945 8977
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain information that may constitute 'forward-looking information' within the meaning of applicable
All such forward-looking statements are based on certain assumptions and analyses made by management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management and the qualified persons believe are appropriate in the circumstances.
All forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements including, but not limited to, delays caused by pandemics, terrorist or other violent attacks (including cyber security attacks), the failure of parties to contracts to honour contractual commitments, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts to perform as agreed; social or labour unrest; changes in commodity prices; unexpected failure or inadequacy of infrastructure, the possibility of unanticipated costs and expenses, accidents and equipment breakdowns, political risk, unanticipated changes in key management personnel and general economic, market or business conditions, the failure of exploration programs, including drilling programs, to deliver anticipated results and the failure of ongoing and uncertainties relating to the availability and costs of financing needed in the future, and other factors described in the Company's most recent annual information form and management discussion and analysis filed on SEDAR+. Readers are cautioned not to place undue reliance on forward-looking statements.
Although the forward-looking statements contained in this press release are based upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this press release.
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