The following is a summary of the Orezone Gold Corporation (ORZCF) Q1 2024 Earnings Call Transcript:
Financial Performance:
Orezone Gold Corporation reported a Q1 production of 30,139 ounces of gold and sales of 31,229 ounces at an all-in sustaining cost of $1,324 per ounce sold.
They generated $64.7 million in revenue from gold sales, which led to earnings from mine operations of $26.9 million.
The company reported a pretax income of $20.4 million and after-tax net income of $13.6 million.
Business Progress:
Orezone announced the completion of the first stage of a Phase II Hardrock expansion, with the next stage under review.
The company is preparing for another phase of exploration, expected to run for several years.
The expansion project aims to increase annual gold production to over 170,000 ounces by 2026.
Funding for the expansion will be sourced from a pending debt package and cash flow.
More details: OREZONE GOLD CORP IR
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