05:25 PM EDT, 07/08/2025 (MT Newswires) -- Orezone Gold ( ORZCF ) after trade Tuesday released its gold production results for the second quarter and provided an update on the construction progress for the stage 1 hard rock expansion at its Bombore Gold Mine.

The company said it produced 27,548 ounces of gold and sold 28,265 ounces at an average realized price of US$3,338 per ounce, generating revenue of US$94.3 million.

As of June 30, the company reported a cash balance of US$72.6 million and available liquidity of US$103.9 million. Orezone's senior debt stood at US$65.3 million, reflecting principal repayments of US$5.2 million and foreign exchange movements during the period, it said.

The company added that construction of the stage 1 hard rock expansion is progressing on schedule and within budget. Commissioning of the new processing mill and the first gold pour are expected in the fourth quarter. All engineering and procurement work has been completed. Also, several hard rock mining areas have been prepared in advance of mining operations starting later this year.

"The company remains well-positioned to achieve its 2025 production guidance of 115,000-130,000 ounces, with Q4 expected as the strongest quarter," Chief Executive Patrick Downey said.

Orezone shares closed down $0.04 to $1.10 on the Toronto Stock Exchange.