Orezone Reports Q3-2025 Production and Hard Rock Expansion Update

Core Viewpoint - Orezone Gold Corporation reported Q3-2025 gold production results and construction progress on its stage 1 hard rock expansion at the Bomboré Gold Mine, with expectations for a strong Q4 following seasonal rainfall impacts [1][3]. Q3-2025 Production Results - Gold production for Q3-2025 was 23,371 ounces, a decrease from 27,548 ounces in Q2-2025 and 28,688 ounces in Q1-2025 [5]. - The ore processed was 1,523,697 tonnes with an average ore grade of 0.55 g/t, down from 0.62 g/t in Q2-2025 [5]. - Plant recovery rate was 87.0%, slightly lower than previous quarters [5]. - Gold sales totaled 20,350 ounces at a realized price of $3,375 per ounce, generating revenue of $68.7 million [7]. Stage 1 Hard Rock Construction Update - Significant progress was made on the stage 1 hard rock expansion, with all major mill components installed and commissioning scheduled for November [4][6]. - The expansion is expected to increase gold production by approximately 45%, reaching 170,000-185,000 ounces in 2026 [4][12]. - The construction is on budget and nearing completion, with engineering and procurement finalized [7][8]. Financial Position - The company reported a cash balance of $85.3 million and bullion on hand valued at $18.9 million at the end of Q3-2025 [7]. - Senior debt stood at $80.1 million after repayments and drawdowns during the quarter, with $11.8 million of undrawn senior debt available [7]. Future Outlook - The company anticipates a strong Q4-2025 with improved mining access and higher head grades post-rainy season [3]. - The subsequent stage 2 expansion is projected to increase overall production to 225,000-250,000 ounces per year [9][12].