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Orezone Gold Delivers 'Solid' Q2 Result as Two-Mine Producer, Euroz Hartleys Says

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Orezone Gold (ASX:ORE) reported a "solid" second quarter result that is broadly aligned with expectations as the company marks its first full quarter as a diversified two-mine producer, Euroz Hartleys said in a Friday note.

The company logged $0.08 in adjusted earnings per share for the second quarter, compared with $0.04 a year ago.

Revenue was $271.6 million for the three months ended June 30 versus $94.5 million previously.

The Bomboré operations in Burkina Faso produced 38,100 ounces, while Casa Berardi in Canada contributed 20,500 ounces.

The company anticipates 2026 gold production of 222,000 to 247,000 ounces, with all-in sustaining costs of $2,200 to $2,400 per ounce.

Euroz Hartleys says Orezone Gold is a "compelling" investment opportunity, underpinned by improving operational performance, increasing exposure to higher-grade ore sources, and a production growth pathway.

Euroz Hartleys reaffirmed its speculative buy rating on Orezone Gold and raised its price target to AU$4.25 from AU$4.10.

Orezone shares fell 1% in morning trade on Friday.

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