ORZCF - Orezone Gold: Cheap Gold Developer Advances As Miners Consolidate In West Africa
- Orezone is a gold developer progressing the 5 million ounce shovel-ready Bombore project in Burkina Faso towards production.
- The stock has performed well this year as gold moved higher, but is still trading at a discount to its peer group on several metrics.
- At an enterprise value of $170 million, the company is valued at only $34 per ounce despite being fully permitted with a realistic path to funding and construction.
- Bombore has been re-engineered with a staged development path that is more feasible than previous plans and could be put into production with a capital cost of only $153 million.
- The company could be a takeover target as the West African gold space begins to consolidate after deals by Endeavour Mining and West African Resources.
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Orezone Gold: Cheap Gold Developer Advances As Miners Consolidate In West Africa