Casa Berardi Acquisition Boosts Production
Orezone Gold Corporation, listed on TSX, ASX, and OTCQX, announced its financial and operational results for the first quarter of 2026 on May 13. The company reported $185.9 million in revenue from the sale of 37,962 ounces of gold, achieving an average realized price of $4,887 per ounce.
During this quarter, Orezone’s gold production reached 38,789 ounces, with 37,563 ounces from Bomboré mine and an additional 1,226 ounces from the Casa Berardi mine, acquired on March 25, 2026, in Quebec. This acquisition significantly expanded Orezone’s operations.
CEO Patrick Downey stated, "First-quarter gold production marks a new phase for the company, reflecting production from the expanded Bomboré Mine and the newly-acquired Casa Berardi Mine."
Financial Performance and Expansion Plans
Orezone achieved an adjusted EBITDA of $94.2 million, with adjusted earnings attributable to shareholders reaching $42.9 million. By quarter’s end, the company held $48.3 million in cash and a bullion inventory valued at $19.7 million.
Commercial production on Orezone’s hard rock plant expansion at Bomboré was declared in January 2026, expected to enhance plant throughput and processing recovery. Future projects include developing Stage 2A of the hard rock plant.
The acquisition of Casa Berardi aligns with Orezone’s goal to become a diversified mid-tier gold producer. Further details on Casa Berardi’s operations and exploration programmes will be provided in June.
Orezone’s earnings from mine operations totaled $96.5 million in Q1 2026, a significant increase from $38.6 million in Q1 2025. The average realized gold price was $4,887 per ounce compared to $2,851 in the previous year.
Cash costs per gold ounce sold were $2,078, with all-in sustaining costs at $2,245 per ounce. The company reported net earnings of $39.6 million attributable to shareholders, up from $16 million in Q1 2025. Orezone will host a conference call and webcast today at 2:00pm PT / 5:00pm ET to discuss these results in more detail.
