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Orezone Gold Corporation

TICKER: ORE:TSX

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Orezone Gold Corporation is a gold exploration company whose 100%-owned Bomboré gold project has world-class potential. Situated 85 km east of the capital of Burkina Faso and adjacent to a highway, Bomboré has 1.6 Moz Indicated and 1.9 Moz Inferred resources constrained within optimized open-pit shells that span 11 km and have an average drill depth of only 60m. A 170,000m drill program to significantly expand resources and support the completion of feasibility studies in 2012 is consistently demonstrating higher grades and improved continuity.
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The information provided below is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.

Expert Analysis

Cosmos Chiu, CIBC World Markets (2/3/12) "Orezone Gold Corporation has agreed to sell its Sega gold project to Cluff Gold for total consideration of $29.6 million, consisting of $15M in cash and 11M shares of Cluff; with cash from the transaction, Orezone will have total cash of ~$45M, adding financial flexibility to the company as it focuses on the Bomboré project. Based on our estimates, Orezone will have the balance sheet to fund all of its exploration and engineering activities in 2012. . .Orezone also retains upside to the Sega project, where synergies can be achieved with Cluff's Kalsaka mine."

Brad Humphrey, Raymond James (2/3/12) Orezone Gold Corporation announced that it has signed a definitive agreement to sell its Sega project, located in Burkina Faso, to Cluff Gold Plc for total consideration of US$29.6M. Upon closing, the transaction will provide Orezone with a cash injection to continue to move forward the company’s key Bomboré project during 2012; with the company focused on completing a feasibility study at Bomboré by year-end and a construction decision shortly thereafter, this transaction supports that objective."

Brad Humphrey, Raymond James (2/3/12) Orezone Gold Corporation announced that it has signed a definitive agreement to sell its Sega project, located in Burkina Faso, to Cluff Gold Plc for total consideration of US$29.6M. Upon closing, the transaction will provide Orezone with a cash injection to continue to move forward the company's key Bomboré project during 2012; with the company focused on completing a feasibility study at Bomboré by year-end and a construction decision shortly thereafter, this transaction supports that objective."

Nicholas Campbell, Canaccord Genuity (1/11/12) "Orezone Gold Corporation reported drill results from the 100%-owned Bomboré gold project; results include 264 reverse-circulation holes (16,508m) and 105 diamond drill holes (14,423m) from the southern and northern portions of the 11 km resource. . .and indicate a significant expansion and upgrade of the Bomboré resource. . .we continue to view Orezone as a likely takeover target for a larger-cap gold producer."

Morning Coffee (1/11/12) "Orezone Gold Corporation, which has one of the largest undeveloped gold projects in West Africa, reported additional drill results from its Bomboré gold project in Burkina Faso. . .hole BBD0443 intercepted 16.5m at 3.35 g/t gold, using a 5 g/t cutoff. Results from the near-surface oxide zone continue to indicate a significant expansion and upgrade of the oxide resource."

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