Orezone Gold (TSE:ORE) has released an update.
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Orezone Gold Corporation has announced a $105 million financing plan, underpinning the Phase II expansion of its Bomboré Gold Mine, which is expected to boost annual gold production by 50% to over 170,000 ounces by 2026. The project, which is on track to commence major works soon, is set for its first gold output in late 2025. The deal, highlighted by a $58 million loan from Coris Bank and a $47 million private share placement with Nioko Resources, will enable the mine to extend its production life significantly without any hedging or streaming commitments.
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