All dollar amounts are in USD unless otherwise indicated and abbreviation "M" means million.
VANCOUVER, British Columbia, May 13, 2026 (GLOBE NEWSWIRE) -- Orezone Gold Corporation (TSX: ORE | ASX: ORE | OTCQX: ORZCF) ("Orezone" or "Company") is pleased to report its operational and financial results for the first quarter of 2026. The Company will host a conference call and webcast today at 2:00pm PT / 5:00pm ET to discuss the results. Details to join the conference call and webcast are provided at the end of this release.
First Quarter 2026 Highlights
- Acquisition of Casa Berardi gold mine and Quebec exploration properties completed on March 25, 2026
- Gold production of 38,789 oz with 37,563 oz from Bomboré and 1,226 oz from Casa Berardi
- Revenue of $185.9M from sale of 37,962 oz at an average realized price of $4,887 per oz and AISC of $2,245 per oz
- Adjusted EBITDA of $94.2M, Adjusted Earnings attributable to Orezone shareholders of $42.9M, and Adjusted Earnings per Share attributable to Orezone shareholders of $0.07
- Cash flow from operations before changes in working capital of $189.4M and after changes in working capital of $175.6M, inclusive of $100M gold stream financing
- Cash on hand of $48.3M and bullion inventory of 4,272 oz with a market value of $19.7M at March 31, 2026
- Commercial production on Stage 1 hard rock plant expansion declared on January 16, 2026
Patrick Downey, President and CEO, commented, "First quarter gold production marks a significant step forward for the Company as it reflects new production from the expanded Bomboré Mine and the newly-acquired Casa Berardi Mine. We expect gold production to improve for the remainder of 2026 with full quarterly contributions from Casa Berardi and higher head grades at Bomboré as hard rock mining ramps up.
