Orezone Gold Corp Seeks ASX Listing to Raise A$75 Million for Expansion Initiatives
- Orezone Gold Corp is pursuing an ASX listing to raise A$75 million through an initial public offering (IPO).
- The raised capital will fund the expansion of the Bomboré Mine, increasing annual gold production to 250,000 ounces by 2026.
- Orezone's strategic move aims to enhance visibility, attract investors, and ensure long-term success in the gold mining industry.
Orezone Gold Corp Pursues ASX Listing to Fund Expansion Initiatives
Orezone Gold Corporation is actively seeking to broaden its financial horizons by lodging a prospectus with the Australian Securities and Investments Commission (ASIC) for an initial public offering (IPO) aimed at raising A$75 million. The company plans to issue 65,789,474 CHESS Depository Interests (CDIs) at A$1.14 each, which will represent a beneficial interest in its fully paid common shares. This strategic move comes as Orezone looks to secure a listing on the Australian Securities Exchange (ASX), which is expected to enhance its visibility and attract a wider pool of investors. The lead manager for this offering is Canaccord Genuity (Australia) Limited, supported by Euroz Hartleys Limited, Argonaut Securities Pty Limited, SCP Resource Finance LP, and BMO Capital Markets Corp.
President and CEO Patrick Downey emphasizes the significance of this ASX listing in broadening the company's shareholder base and boosting trading liquidity. The capital raised from the IPO is earmarked for advancing the stage 2 hard rock expansion project at the Bomboré Mine in Burkina Faso. This expansion is critical, as it aims to elevate Orezone's annual gold production from the current 170,000 ounces to an impressive 250,000 ounces by 2026. The Bomboré Mine, which transitioned to commercial production of oxide operations in December 2022, is at the center of Orezone's growth strategy, with the first gold from the stage 1 hard rock plant expected to be produced in the fourth quarter of 2025.
The proposed expansion at the Bomboré Mine reflects Orezone's commitment to scaling its operations in response to robust market demand for gold. However, the project remains contingent upon securing final approvals and completing ongoing studies. The successful execution of this expansion plan will not only increase production levels but also bolster Orezone's position in the competitive gold mining industry, highlighting the company's strategic focus on sustainable growth and operational efficiency.
In addition to the IPO, Orezone continues to make strides in its operational capabilities, further solidifying its reputation in the gold mining sector. With a clear vision for the future and a well-defined strategy in place, the company positions itself for long-term success while adapting to the evolving market landscape. The anticipated influx of capital from the ASX listing represents a pivotal step in fostering Orezone's ambitious growth objectives.