CA - Orezone Gold reports Q4 earnings; updates FY23 outlook

2023-03-24 05:12:19 ET

• Orezone Gold press release ( OTCQX:ORZCF ): Q4 GAAP EPS of $0.01.
• Revenue of $43.43M beats by $0.24M .
• Gold production of 22,258 ounces in Q4-2022 and 27,831 ounces for 2022.
• Gold sales of 24,676 ounces for both Q4-2022 and 2022, at an All-In Sustaining Costs per gold ounce sold of $1,075 and revenue of $43.4M.
• Cashflow from operations of $28.5M for Q4-2022 and $6.0M for 2022.
• Cash balance of $9.2M at December 31, 2022, an increase of $1.8M from September 30, 2022.
• Outlook: Gold production of 140,000 – 155,000 Au oz; Sustaining capital has been revised upwards by $5M to $15M - $16M from the Company’s original guidance of $10M - $11M.
• Correspondingly, 2023 guidance for AISC per gold ounce sold has also been revised upwards by $35/ounce to $1,010/ounce - $1,110/ounce.
• Plant throughput is forecasted to range between 5.6M to 5.8M tonnes with plant recoveries approximating 91%.

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