{"id":1159125,"date":"2020-01-09T18:58:04","date_gmt":"2020-01-10T00:58:04","guid":{"rendered":"https:\/\/www.mining.com\/?p=1010863"},"modified":"2020-01-09T18:58:04","modified_gmt":"2020-01-10T00:58:04","slug":"orezone-announces-c20m-bought-deal","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1159125","title":{"rendered":"Orezone announces C$20m bought deal"},"content":{"rendered":"<p>Burkina Faso-focused developer Orezone Gold has announced a C$20 million bought deal co-led by Canaccord Genuity and PI Financial. The underwriters will purchase a total of 37.1 million units with each unit comprised of one share and half of a warrant.<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>Proceeds are intended for advancing the Bombore project and for working capital and corporate purposes.<\/p>\n<p>The underwriters have an option to acquire up to an additional 5.6 million units for proceeds of up to C$3 million for 30 days following closing. Closing is expected around Jan. 29.<\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p> The Bombore gold project is host to a total oxide reserve of 52.5 million tonnes at 0.69 g\/t gold for 1.2 million contained oz. <\/p>\n<\/blockquote>\n<\/figure>\n<p>The Bombore gold project is host to a total oxide reserve of 52.5 million tonnes at 0.69 g\/t gold for 1.2 million contained oz. with additional sulphide reserves of 17.6 million tonnes grading 1.19 g\/t gold for a total of 675,000 oz. These are contained within a measured and indicated resource inventory of 107 million tonnes of oxides at 0.55 g\/t gold and 123 million tonnes of sulphides at 0.8 g\/t gold.<\/p>\n<p>Last year, the company released a feasibility study for Bombore which outlined a staged oxide-sulphide project producing an average of 117,800 oz. of gold annually at all-in sustaining costs of $730 per oz.<\/p>\n<p>The associated initial capital for the oxide portion of the project was estimated at $153 million with an additional $63 million allocated for the sulphide expansion commencing operations in the third year. The associated net present value, at a 5% discount rate, has been estimated at $361 million with a 43.8% internal rate of return.<\/p>\n<p>Orezone is currently planning on pouring first gold from Bombore in the second half of next year.<\/p>\n<p><em>(This article first appeared in the <\/em><a href=\"http:\/\/www.canadianminingjournal.com\/\"  rel=\"noreferrer noopener\"><em>Canadian Mining Journal<\/em><\/a><em>)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Proceeds are intended for advancing the Bombore project and for working capital and corporate purposes.<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[369,4],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1159125"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1159125"}],"version-history":[{"count":1,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1159125\/revisions"}],"predecessor-version":[{"id":1159126,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1159125\/revisions\/1159126"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1159125"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1159125"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1159125"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}