Orezone completes A$75 million IPO on Australian Securities Exchange

Published 06/08/2025, 12:44
© Reuters.

Orezone Gold Corporation (ORE, OTCQX: ORZCF) completed its initial public offering on the Australian Securities Exchange, issuing 65,789,474 CHESS Depository Interests at A$1.14 per CDI to raise gross proceeds of A$75.0 million.

Each CDI represents a beneficial interest in one common share of the Vancouver-based company. Trading in CDIs on the ASX is expected to commence August 8, 2025 under the ticker "ORE," pending satisfaction of remaining ASX listing conditions.

The company will use net proceeds to advance stage 2 of its hard rock expansion at the Bomboré Mine in Burkina Faso, including procurement of mechanical and electrical equipment, freight, engineering design, construction and commissioning. Additional funds will support ongoing exploration and working capital.

"The strong demand and support from new institutional and retail investors are a testament to the quality and potential of the Bomboré Mine," said Patrick Downey, President and CEO. The company targets expanded gold production of 220,000 to 250,000 ounces per annum.

Orezone operates a 90%-owned gold mine in Burkina Faso that achieved commercial production on oxide operations December 1, 2022. The company expects first gold from its stage 1 hard rock expansion in Q4-2025, with combined production from oxide and stage 1 operations forecasted at 170,000 to 185,000 ounces in 2026.

Canaccord Genuity (Australia) Limited served as lead manager, bookrunner and underwriter for the offering. Co-managers included Euroz Hartleys Limited, Argonaut Securities Pty Limited, SCP Resource Finance LP and BMO Capital Markets Corp. The company paid a 5.0% cash commission on gross proceeds.

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