Orezone Gold Advances Multi-Asset Growth with Casa Berardi Acquisition and Bomboré Expansion
Orezone Gold Corporation reported a 35% jump in Q1 2026 gold production, driven by Bomboré’s hard rock expansion and the acquisition of Quebec’s Casa Berardi mine. Operational hiccups with emulsion supply slowed high-grade ore sequencing but did not derail cost guidance.
- Q1 2026 gold production up 35% to 38,789 ounces
- Bomboré stage 1 hard rock plant exceeds design throughput by 10%
- Casa Berardi acquisition closed late March, adding immediate production
- Emulsion supply issues impacted mine sequencing and grade at Bomboré
- 2026 Bomboré production guidance reaffirmed at 160,000–180,000 ounces
Surge in Production as Casa Berardi Joins Portfolio
Orezone Gold Corporation (ASX:ORE) kicked off 2026 with a notable 35% increase in gold output, producing 38,789 ounces in the first quarter compared to 28,688 ounces a year earlier. This leap was largely powered by the Bomboré mine’s hard rock expansion and the strategic acquisition of the Casa Berardi gold mine in Quebec, which closed on March 25. Casa Berardi contributed 1,226 ounces in just five days of production post-acquisition, instantly diversifying Orezone’s asset base and setting a foundation for future growth.
Patrick Downey, CEO, hailed the quarter as a milestone period, highlighting the swift ramp-up at Bomboré’s 2.5Mtpa stage 1 hard rock plant, which reached commercial production on January 16 and exceeded nameplate throughput by 10%. This performance underscores the operational strength of the Bomboré team and the mine’s capacity to scale quickly.
Operational Challenges Temper Grade but Costs Hold Steady
Despite the strong throughput, Bomboré’s mine sequencing faced setbacks due to intermittent emulsion supply delays, a critical input for hard rock blasting. These disruptions forced adjustments that reduced the tonnes of high-grade hard rock ore processed during the quarter, resulting in a lower average head grade of 0.57 g/t compared to 0.67 g/t in Q1 2025. Orezone has since secured a second emulsion supplier to stabilise deliveries and expects production from the hard rock plant to improve steadily through the second half of 2026, aligning with original guidance.
Production costs remained in line with expectations despite the grade dip, reflecting efficient mill performance and operational discipline. Orezone reaffirmed its 2026 Bomboré production guidance of 160,000 to 180,000 ounces, signalling confidence in overcoming short-term supply chain hurdles.
Expansion and Exploration Drive Growth Prospects
Orezone is not resting on its laurels. The company has initiated earthworks for the stage 2A hard rock expansion at Bomboré, which includes installing a rock breaker, thickener, and oxygen plant. Scheduled for completion in late Q3 2026, these upgrades aim to incrementally enhance recoveries and throughput, potentially lifting production efficiency further.
Meanwhile, Casa Berardi is gearing up for a production ramp-up with an underground mining contractor mobilising to accelerate development and exploration platforms. Surface and underground drilling activities are underway with three rigs, with two more expected shortly. The company plans to release 2026 guidance for Casa Berardi in the second quarter, which will be critical for assessing the mine’s full-year contribution.
This operational momentum builds on Orezone’s recent boost to 2026 outlook after hard rock expansion and Casa Berardi acquisition, which set the stage for the company’s transition to a multi-asset producer with a self-funded growth profile.
Bottom Line?
Orezone’s Q1 performance affirms its growth trajectory, but the impact of emulsion supply disruptions and pending Casa Berardi guidance injects measured uncertainty into 2026 forecasts.
Questions in the middle?
- How will Casa Berardi’s full-year production and cost profile shape Orezone’s 2026 outlook?
- Can the newly secured emulsion supply fully stabilise Bomboré’s hard rock mining sequence?
- What operational gains can be expected from the stage 2A expansion at Bomboré later this year?
