The following is a summary of the Orezone Gold Corporation (ORZCF) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Orezone Gold Corporation reported Q4 gold sales of 33,782 ounces at an all-in sustaining cost of $1,246 per ounce. The company ended the quarter with $19.5 million in cash.

• The full-year gold production for 2023 was 141,425 ounces, and the average all-in sustaining cost was $1,127 per ounce sold. Q4 revenue and earnings from mine operations were $67.6 million and $16.1 million respectively.

• For 2023, an average realized price per ounce sold was $1,940, with a net income of $43.1 million, and $104.8 million in operating cash flow before changes in working capital.

Business Progress:

• In 2023, Orezone Gold Corporation repaid $33.8 million of senior debt, reducing it to $62.3 million by year-end.

• They unveiled a Phase 2 hard rock expansion plan.

• For 2024, the company expects to produce between 110,000 to 125,000 ounces of gold at all-in sustaining costs between $1,300 to $1,375, with major expenses anticipated in tailings lifts and infrastructure.

• The major objective for the future is to reduce debt significantly, finance the Phase 2 expansion, and possibly explore further projects.

More details: OREZONE GOLD CORP IR

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