||Burkina Faso, West Africa
|Type of Mine:
||Open Pit Gold
||Avg. 209,000 oz/year (yrs 4 to 11)
11.3 years mine life
||10.3 mtpa (5.9mtpa oxide circuit – 4.4mtpa sulphide circuit)
||2.4Moz @ 0.72 g/t gold P&P
||4.5Moz @ 0.78 g/t gold M&I (inclusive of reserves)
The Company owns a 90% interest in the Bomboré Gold Mine with the government of Burkina Faso retaining a 10% carried interest. Bomboré is situated 85 km east of the capital city of Ouagadougou and is readily accessed by paved international highway thereby offering excellent infrastructure and simple logistics.
Bomboré was constructed on-time and under budget and achieved commercial production of its Phase I oxide plant on December 1, 2022, which has successfully operated above its planned nameplate at a processing rate of 5.9Mtpa. In October 2023, Orezone released the results of an expansion study which will incorporate a 4.4Mtpa hard rock plant to the 5.9Mtpa oxide plant for a total processing rate of 10.3Mtpa – a significant increase in gold production at a low incremental capital cost. Construction of the new standalone 4.4Mtpa hard rock processing facility will enable Bomboré to produce an average of 209,000oz/yr at an AISC of $1,121/oz. First gold from the hard rock plant is scheduled for Q3-2025.
- Shear-zone hosted: 13km long x 200m
- Average depth of drilling to date is 200m
- 85 km from the capital of Ouagadougou, adjacent to a major highway with nearby power and water
- 90% owned and a sliding scale 3 to 5% net smelter royalty (“NSR”)
2023 Feasibility Study Highlights*
(at Base Case gold price of $1,750/oz. All reported figures are in US dollars and are on a 100% project basis unless otherwise stated)
- After-tax NPV5% of $635.9M with rapid payback
- Mine-life of 11.3 years with gold production totalling 2.11Moz
- Conventional open pit mining at a low strip ratio of less than 2:1
- Phase II hard rock plant capital costs of $167.5M
- Average annual gold production of 231,000oz in the first three full years after expansion at an AISC** of $1,081/oz
*The technical report entitled Bomboré Phase II Expansion, Definitive Feasibility Study is available on SEDAR+ and the Company’s website.
**AISC includes operating costs, royalties, sustaining capital, and closure costs (net of salvage values) but excludes the costs of the Phase II hard rock plant expansion, growth capital, and corporate G&A.