Orezone Gold Corp (OTCPK:ORZCF)

Q1 2026 Orezone Gold Corp Earnings Call Transcript

May 13, 2026 / 09:00 PM GMT

Release Date Price: $1.82 (+3.26%)

Transcript

Key Points

Positve

Orezone Gold Corp (ORZCF) completed a strategic acquisition of the Casa Berardi gold mine and exploration assets in Quebec, enhancing its position as a diversified multi-asset producer.
The company achieved commercial production at the Bombori mine's 2.5 million tonne per annum Stage 1 hard rock expansion, exceeding nameplate capacity by 10%.
Orezone Gold Corp (ORZCF) was added to the VanEck Junior GDXJ exchange-traded fund, significantly improving its liquidity.
The management team was strengthened with key appointments, including a new COO, VP of Exploration, and VP of Investor Relations, bringing extensive industry experience.
Record earnings and operating cash flows were reported for Q1 2026, with net earnings of $39.6 million and operating cash flow of $175.6 million.

Negative

The Bombori mine faced delays in accessing higher-grade ore due to emulsion delivery issues, impacting short-term production plans.
Higher processing costs were incurred due to the transition from oxide-only to hard rock operations, with cash costs per ton processed increasing from $19.64 to $23.22.
The all-in sustaining cost was reported at $2,245 per ounce sold, which, while within guidance, reflects the challenges of maintaining cost efficiency.
Orezone Gold Corp (ORZCF) is still awaiting VAT refunds, which have been a factor in delaying the full expansion at Bombori.
The company is facing logistical challenges related to transportation and supply chain issues, which have affected the delivery of necessary materials.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

ORE.TO - Orezone Gold Corp
Q1 2026 Orezone Gold Corp Earnings Call
May 13, 2026 / 09:00PM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, thank you for standing by. Hello and welcome to Ozone first quarter 2026 results webcast and conference call. All lines have been placed on mute to prevent any background noise.

Thank you. I would like to turn the conference over to Patrick Downey, President and CEO. Please go ahead.

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Unidentified_2 [2]
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Thank you. And as the operator said, this is Ozone's Q1 2026 results conference call and webcast. I'd like to welcome you all to it.

And with me today is Peter Tam, Executive Vice President and CFO, and Kevin McKenzie,

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