Orezone Gold Corporation (ORE) has released its inaugural operational guidance for the Casa Berardi gold mine in Quebec, covering the period from the asset’s acquisition on March 25, 2026, through to the end of the year. The company expects to produce between 62,000 and 67,000 ounces of gold for the remainder of 2026, with all-in sustaining costs (AISC) projected between US$2,600 and US$2,800 per ounce.

The guidance marks a transitional phase for the site as management works to integrate the operation and recalibrate its mining approach. Quarterly production is anticipated to reach its lowest point during the third quarter, a result of prioritised waste stripping activities at the F160 pit. This short-term measure is designed to improve access to higher-grade material in the pit bottom, with output expected to strengthen by the final quarter as those grade improvements reach the mill.

"Since taking ownership, our focus at Casa Berardi has been on integrating the operation, gaining a deeper understanding of the asset and identifying opportunities to enhance its future performance."

"Its substantial mineral endowment, extensive existing infrastructure and significant exploration upside provide a strong platform for long-term value creation."

— Patrick Downey, President and CEO

Capital expenditures for the period are budgeted at US$37–$39 million for sustaining requirements, including new underground mobile equipment and infrastructure improvements. An additional US$5–$6 million in growth capital is earmarked for technical studies. Orezone is also scaling up its diamond drilling program, with plans to reach a sustained annual rate of 80,000 to 100,000 metres. This exploration focus intends to convert inferred resources and test near-mine targets. Investors can expect further clarity on the long-term strategy when the company publishes an updated life-of-mine plan this September.

Read the full announcement: Orezone Provides 2026 Guidance for Casa Berardi