Orezone Casa Berardi LoM NPV US$1.05bn

Orezone (ASX:ORE) has released an updated life-of-mine plan for its Casa Berardi gold mine in Quebec, setting out a 14-year mine life and after-tax NPV5% of US$1.05 billion at base-case consensus gold prices.

The plan covers 2027 to 2040 with total gold production of 1,630,000 ounces and life-of-mine average annual production of 116,000 ounces at AISC of US$1,877 per ounce. Years 2030 to 2038 average 132,000 ounces a year at AISC of US$1,776 per ounce. After-tax NPV5% rises to US$1.43 billion at a US$4,350 per ounce spot assumption. Annual throughput is 1.4 Mtpa, with recovery of 83.9%, underground head grade 4.64 g/t and open pit head grade 2.32 g/t. Sustaining capital is US$638 million and non-sustaining capital US$324 million. The mineral resource is a foreign estimate under NI 43-101 and the CIM Definition Standards, not reported under the JORC Code. The mine plan includes Inferred Mineral Resources and is classified as a PEA; no mineral reserves are defined. BBA Consultants completed the plan under Orezone guidance. Dollar amounts are in US dollars unless otherwise indicated.

A Competent Person has not classified the foreign estimate under the JORC Code, and it is uncertain whether further work will allow JORC reporting. NPV outcomes depend on gold price assumptions and Franco-Nevada stream terms.