ORZCF - Orezone provides 2023 gold production guidance of 140k - 155k oz from Bomboré mine

• Orezone Gold ( OTCQX:ORZCF ) said Wednesday it forecasts 2023 gold production of 140,000 to 155,000 ounces from its Bomboré Gold Mine in Burkina Faso, adding that production is expected to be more weighted towards first half of the year.
• Orezone said it anticipates all-in sustaining costs for 2023 to be $975 to $1,075 per ounce sold, and expects it to be lower in H1-2023, impacted by the high cost of on-site power generation from rental gensets running on diesel.
• Orezone president and CEO Patrick Downey said the expected strong cash flow in 2023 will contribute to its debt reduction and growth plans.
• Plant throughput is forecasted to range between 5.6 to 5.8 million tons for 2023.
• Capital expenditures is budgeted around $43 to $49 million for the year.
• Sustaining capital is forecasted to total between $10 to $11 million, with the majority of the expenditures planned for H1-2023.
• The company said its growth capital in 2023 is divided into two main projects: Power connection to Burkina Faso’s national grid ($15 to $18 million), and Resettlement Action Plan – Phases II and III ($18 to $20 million for 2023).

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