Orezone Gold Corporation (ORE.TSX) represents an excellent opportunity to invest in an emerging, West African gold producer. The Company's world-class Bomboré gold deposit has the flexibility to be developed in stages in order to reduce the inital capital requirements. A full feasibility study to develop the near surface oxide resources using a combined heap leach and CIL circuit will be completed in Q2 2015 along with filing an application for a mining permit. Management has the resources and experience necessary to bring this deposit into production pending improved equity market conditions.
- Orezone has developed +12 Moz of gold resources in Burkina Faso in the past 10 years
- Arranged +$630 million in financings
- Built a development team & commenced construction at Essakane prior to selling it to IAMGOLD during the difficult markets of 2008.
- Tim Miller - COO for Orezone, developed and operated HL and CIL operations for Glamis, Goldcorp and operations in Ghana.
Bomboré - Largest Undeveloped Gold Project in the region that can be build in Stages
- Near-surface, large tonnage, low grade gold deposit
- 4.56 M&I + 0.72 Moz Inferred resource (April 2013)
- +2 Moz of oxide resources in the top 50 m that is heap leachable, high grade based on heap leach comparables, high recoveries, low cost
- Largest undeveloped oxide resource in West Africa and one of the largest underlying sulphide resources ameanable to simple CIL processing
- Expansion potential: Average depth of drilling is only 120m
- 85 km from the capital city, adjacent to the national highway, with nearby power & water
- Q2 2015 - Completion of full feasibility study (FS) for an oxide only HL/CIL circuit with no grinding and no cement agglomeration
- Q2 2015 - Application for a mining permit on the basis of the FS
- H2 2015 - Resource update to include 50,000m of additional drilling
- H2 2015 - Negotiate potential debt facility for the project pending permit receipt, detailed engineering and improved equity market conditions
- Q1 2016 - Expected mining permit receipt