07:45 AM EST, 02/24/2025 (MT Newswires) -- Orezone Gold ( ORZCF ) , trading at a 52-week high, on Monday said it is accelerating production growth and exploration at its Bombore Gold Mine in Burkina Faso. The company also said it will list on the Australian Securities Exchange in the middle of this year.

Orezone will accelerate Stage II of the hard rock expansion by two years to achieve an optimized gold production profile of 220,000-250,000 ounces per year by late 2026. Stage II will launch in the second half of this year after the Stage I expansion ends, which is scheduled to achieve first gold in the fourth quarter of this year. Stage I is forecasted to increase gold production to 170,000-185,000 ounces in 2026, Orezone said.

The company will also launch an expanded program to accelerate exploration of multiple higher-grade centers of mineralization at Bombore.

"We believe that an acceleration of the Stage II hard rock expansion to an overall production profile of 220,000-250,000 ounces per year will serve to maximize free cash flow in the coming years, positioning Orezone with a cornerstone asset from which to diversify and grow its production base," said Chief Executive Patrick Downey. "This strategic goal will be complemented by our plans to list on the ASX, which is expected to enhance the company's trading liquidity and promote better access to investment capital."

Orezone Gold ( ORZCF ) separately announced a bought-deal private placement to raise $35 million to fund the Stage II program. It will issue 42.7 million common shares at $0.82 each. The underwriters have also been granted an additional 6.4 million shares, for additional proceeds of $5.3 million. The offering is expected to close by March 13.