269 0 Kommentare Orezone Applies for the Bombore Mining Permit - Seite 2

Development Timetable

The Company is exploring many alternatives to be in a position to fund the complete construction of the project in Q1 2016; the expected timeline to receive all government permit approvals. Initial discussions with potential lenders indicate that the project will bear a significant level of debt (up to $150M) as a result of the robust economics. The estimated time to construct the Bomboré operation (pre-production) is 21 months, including time to excavate the +3Mm³ Off Channel Reservoir (OCR) to be used for water storage, and time to commission the process plant equipment.

Full details of the recently completed Feasibility Study in the form of an NI 43-101 technical report will be filed on SEDAR in June. The Company is also in the process of updating the 2013 Mineral Resource estimate with the inclusion of an additional 50,000 m of drilling. The update will be completed in Q3 2015.

Bomboré Feasibility Highlights (released April 28, 2015)

	Mineral Reserves at $1100 Au (ounces)	1,465,000
	Average Grade (g/t)	0.88 Years (1-8) / LOM 0.76
	Processing Throughput (Mt/yr)	5.5
	Mine Life (years)	10.7
	Average Annual Production (ounces)	135,000 Years (1-8) / LOM 116,000
	Gold Production (ounces recovered)	1,275,000
	Waste to Ore Strip Ratio (incl. pre-strip, water OCR)	1.07: 1.0
	Gross Revenue ($M) using $1250 Au	$1,589
	Operating Cost ($/oz)	$603
	All in Sustaining Cost ($/oz)	$687
	Initial Capital ($M) ( incl. $10.5M capital credit)	$250.0
	Sustaining Capital ($M)	$75.2
	Closure Costs ($M) (incl. $8.7M of expensed costs)	$22.5
Attributable to Orezone ⁽¹⁾
	NPV after tax (0%) ($M)	$323.9
	NPV after tax (5%) ($M)	$196.1
	IRR after tax	24.4%
Attributed to Government ⁽²⁾
	NPV (0%) with taxes ($M)	$214.8
	NPV (5%) with taxes ($M)	$152.7

(1)	Represents Orezone's Burkina Faso subsidiary cash flows net of royalties and local taxes.
(2)	The Government of Burkina Faso benefits from its 10% free-carried interest, royalties (4% NSR), corporate tax (18.3%) and withholding taxes.
Exchange Rates: XOF : USD = 550; Euro : USD = $1.19; XOF : Euro = 655.957
Fuel price delivered to site (USD/L): Diesel $1.20, HFO $0.77