Bullboard - Stock Discussion Forum Orezone Gold Corp T.ORE

Alternate Symbol(s): ORZCF

Metals & Mining Gold

Orezone Gold Corporation is a Canada-based West African gold producer engaged in mining, developing, and exploring its flagship Bombore Gold Mine (90%-owned) in Burkina Faso. The Bombore mine is an open pit gold. The Bombore mine is focused on its staged hard rock expansion that is expected to materially increase annual and life-of-mine gold production from the processing of hard rock mineral... see more

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Orezone Gold Corp > In June of 2021 this stock was over $1.50 a share. Where do

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Post by drunk@noon on Jun 20, 2023 5:36pm

In June of 2021 this stock was over $1.50 a share. Where do

we sit today? This with a fanastic property. Investors we sitting on a GOLDMINE!!!!! Trouble is shareholder value was destroyed and now after years the stock is lower than it was before the mine was built. AND thats with a world class property, with a fantastic NAV and low low cap ex. And with a 5 million oz resource yet, capable of producing 250,000 oz for year, with gold sitting close to $ 2000/ oz.
AND YET THE SHARE PRICE SITS BELOW WHERE IT WAS OVER TWO YEARS AGO>
Let's see one of you mindless shareholders rebut that.

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Comment by lumpy13 on Jun 20, 2023 6:13pm

Can you please explain how shareholder value was destroyed? If you're talking about dilution, the company did a PP in March this year for C$16.5m at C$1.29. In early 2021, the company did a C$73m PP at C$1.09 and a $35m convertible with a conversion price of $1.08. They also raised a $96m senior debt facility. The current market cap is C$462m, essentially the same when ...more

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