Q4 2025 Orezone Gold Corp Earnings Call Transcript
Key Points
- Orezone Gold Corp (ORZCF) completed the transformational acquisition of the Hecla-Quebec assets, including the producing Casa Berardi mine.
- Gold production for Q4 2025 increased by 30% quarter over quarter, reaching 30,407 ounces.
- The company achieved record net income in Q4 of $27.6 million and full year of $64.9 million attributable to shareholders.
- Orezone Gold Corp (ORZCF) maintains a strong balance sheet with cash and gold bullion of $111.9 million and continues to pay down senior debt.
- The company completed the Stage 2, 2.5 million tonne hard rock expansion on time and on budget.
- Full year gold production of 110,014 ounces was slightly below guidance due to delays in explosives deliveries in Burkina.
- All-in sustaining costs for the year were $1,776 per ounce, which is higher compared to previous periods due to increased government royalties and a stronger local currency.
- Free cash flow was negative in 2025 as the company invested heavily in growth capital, including $131 million in expenditures.
- Cash costs per tonne processed rose by 7% in 2026 due to stronger local currency and higher costs associated with hard rock processing.
- There were temporary shortages of explosives deliveries, impacting production schedules, although the situation is being addressed with multiple suppliers.
Thank you for standing by. My name is Kate, and I will be your conference operator today. At this time, I would like to welcome everyone to the Orezone 2025 year-end results and 2026 guidance webcast and conference call. (Operator Instructions)
Thank you. I would now like to turn the call over to Patrick Downey, President and CEO. Please go ahead.
Many thanks, and welcome to the Q4 and year-end 2025 Orezone results presentation. I also want to say this is an exciting day for Orezone as we just announced the completion of the transformational acquisition of the Hecla-Quebec assets, including the producing Casa Berardi mine, which I will touch on later in the presentation. With me today is Peter Tam, EVP and CFO; Ryan Goodman, SVP and General Counsel; and Kevin MacKenzie, VP Corporate Development and IR, who will be available to answer questions; and Peter will be presenting with me today.
There are some forward-looking statements, so I ask that you carefully read
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