Orezone Gold (TSE:ORE)
TSX:ORE
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Earnings Data
Report Date
Aug 12, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.2Last Year’s EPS
0.05Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized multiple major positives: a transformational acquisition (Casa Berardi), successful completion and early outperformance of Bomboré Stage 1 hard rock expansion (10% above nameplate), record net earnings ($39.6M) and strong operating cash flow ($175.6M), improved liquidity (GDXJ inclusion) and strengthened senior team. These were tempered by operational challenges in Q1—primarily explosives/emulsion delivery shortfalls that caused a significant grade shortfall (~34% below budget at Bomboré), higher processing costs (~18% year-over-year increase per tonne) due to hard rock, and timing uncertainty for the larger Stage 2 expansion. Overall, the positives (strategic M&A, strong cash generation, successful expansion execution, management hires and exploration ramp-up) outweigh the operational setbacks, which management expects to resolve and which are driving near-term operational focus and capital allocation caution.Company Guidance
Strategic Acquisition of Casa Berardi
Closed acquisition of the Casa Berardi gold mine and exploration portfolio in Quebec, adding a diversified, multi-asset footprint expected to provide material scale production, free cash flow and exploration upside. Casa Berardi produced 1,226 ounces in Q1 (5 days of operation post-acquisition); full 2026 guidance for Casa Berardi to be provided in June and a life-of-mine plan targeted for Q4 2026.
Bomboré Stage 1 Hard Rock Expansion Successfully Completed
Completed the 2.5 Mtpa Stage 1 hard rock expansion on time and on budget with commercial production achieved January 16, 2026. Current throughput is ~10% above nameplate capacity, and Stage 2A hard rock expansion is underway with completion scheduled for late Q3 2026.
Record Quarterly Earnings and Strong Operating Cash Flow
Reported net earnings attributable to Orezone shareholders of $39.6 million and operating cash flow of $175.6 million in Q1 2026, aided by a $100 million gold stream deposit from Franco‑Nevada.
Improved Liquidity and Capital Repatriation
Company was added to the VanEck Junior GDXJ ETF on March 20, improving liquidity. Began repatriating earnings to Canada with $52.5 million repatriated so far in 2026.
VAT Refunds and Cash Receipts
Received $5.1 million in VAT refunds in Q1 and additional refunds in April and May, totaling $23.9 million year-to-date, improving working capital and operational flexibility.
Production and 2026 Guidance
Total company production in Q1 was 38,789 ounces (37,563 oz from Bomboré and 1,226 oz from Casa Berardi). 2026 consolidated production guidance reiterated at 220,000 to 240,000 ounces, with production weighted to the second half of the year.
AISC Within Guidance
Reported all-in sustaining cost (AISC) of $2,245 per ounce sold for Q1, which management states is within 2026 guidance. Management notes AISC excluding royalties is approximately $1,700/oz based on assumed gold price of $4,500/oz and royalties of ~$540/oz.
Management and Team Strengthening
Announced three senior hires: Marc‑Andre Pelletier as COO (30+ years operations experience), JF Ravenelle as VP Exploration (PhD structural geology, discovery track-record), and Amanda Mallough as VP IR, strengthening operational, exploration and investor relations capabilities.
Exploration and Development Upside at Casa Berardi
Ramped underground development rates (more than doubled) and mobilized a drill program currently at 4 rigs with plans to ramp to ~7 rigs and ~80,000–100,000 meters/year. Management expects near-term drill results and additional updates on the acquired exploration portfolio.
Cost Optimization Initiatives
Initiated mill optimization studies at Casa Berardi and advanced studies to add a large solar plant at Bomboré to lower and stabilize future power costs.
TSE:ORE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
TSE:ORE Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 13, 2026 | C$2.50 | C$2.52 | +0.80% |
Mar 25, 2026 | C$2.21 | C$2.02 | -8.60% |
Nov 12, 2025 | C$1.47 | C$1.43 | -2.72% |
Aug 13, 2025 | C$1.14 | C$1.14 | 0.00% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Orezone Gold (TSE:ORE) report earnings?
Orezone Gold (TSE:ORE) is schdueled to report earning on Aug 12, 2026, After Close (Confirmed).
What is Orezone Gold (TSE:ORE) earnings time?
Orezone Gold (TSE:ORE) earnings time is at Aug 12, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is TSE:ORE EPS forecast?
TSE:ORE EPS forecast for the fiscal quarter 2026 (Q2) is 0.2.