Orezone Gold Corporation has released second trimester production results from its Bomboré gold mine in Burkina Faso. The press release was issued on 12 July 2023 in Vancouver, Canada.
According to the press release, the company produced 35,482 ounces in the second trimester, totalling 76,783 ounces for the first semester of 2023. It sold 33,608 ounces of gold at an average price of 1,970 US$/ounce in the second trimester, resulting in revenues of 66.2 million US $. The cash flow situation at 30 June 2023 was 32.3 million US $.
Patrick Downey, President and Chief Executive Officer, said that the second trimester marked another strong trimester at Bomboré, with ore processed continuing to achieve rates beyond design. Overall plant throughput for the trimester was slightly lower than the first trimester due to lower than expected plant availability as a result of routine maintenance to install newly designed plant liners and replace worn shafts in the front mineral sizing. All major maintenance work planned for the year has now been completed and the Company expects trimesterly throughput in the second half of 2023 to reach record levels.
Gold production benefited from the refurbishment of higher grade stockpiles in the first half of the year, and head grades are expected to continue to moderate in the second half. The Company reaffirms its annual production guidance for 2023 of 140,000 to 155,000 ounces.
Work on the Phase 2 feasibility study for the hard rock expansion continued during the second trimester, and mine design and scheduling are underway. Project costing is well advanced and initial reviews of detailed specifications for long-lead items are underway. The expansion study remains on track for completion shortly.
Significant progress has also been made on the electrical connection to the Bomboré grid, with clearing of the right of way now complete and installation of the pylons underway. The grid connection is scheduled to be energised by the end of 2023, which will result in a dramatic reduction in current electricity costs”.
Gold Corporation operates the Bomboré open-pit gold mine in Burkina Faso. Orezone Bomboré has significant underlying hard rock resources to support a much larger expansion.
Elie KABORE
#Mines_Actu_Burkina
