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Orezone Gold ( (TSE:ORE) ) has shared an update.
Orezone Gold Corporation announced a C$8.8 million private placement with Nioko Resources Corporation to maintain Nioko’s 19.9% ownership in Orezone. This investment is seen as a strong endorsement of Orezone’s growth and marketing strategy, as the company advances its dual listing on the Australian Securities Exchange and progresses with its hard rock expansion and exploration activities at the Bomboré Gold Mine. The proceeds will be used to accelerate these projects and for general corporate purposes, with the placement expected to complete in March, subject to TSX approval.
More about Orezone Gold
Orezone Gold Corporation is a West African gold producer focused on mining, developing, and exploring its flagship Bomboré Gold Mine in Burkina Faso. The company achieved commercial production on its oxide operations in December 2022 and is now concentrating on a staged hard rock expansion to significantly increase gold production. Orezone is committed to social responsibility and sustainability, backed by a team with a proven track record in project construction, operations, and capital markets.
YTD Price Performance: 34.85%
Average Trading Volume: 356,545
Technical Sentiment Consensus Rating: Sell
Current Market Cap: C$452.8M
See more insights into ORE stock on TipRanks’ Stock Analysis page.