With this announcement, Bomboré now becomes the 16th mine to go into production in Burkina Faso. Management plans to provide an annual guidance for Bomboré in January 2023.
Located 85 km east of the capital city of Ouagadougou, the Bomboré property is host to a large free-digging oxide resources underlain by higher-grade sulphide resources. Orezone owns a 90% interest in the mine project, with the government of Burkina Faso retaining a 10% carried interest.
A feasibility study published in 2019 outlined a long-life, low-cost open-pit gold mine for Bomboré, highlighted by an after-tax net present value (at 5% discount rate) of $361 million and internal rate of return of 43.8% with a 2.5-year payback.
Orezone has only been focused on mining the Phase I near-surface oxides and processing them as a carbon-in-leach operation at a planned annual throughput of 5.2 million tonnes. However, the company believes that Bomboré’s…
