OREZONE GOLD Reports First Quarter Earnings Results for FY2023
May 29, 2023
Earnings Overview
On May 9, 2023, OREZONE GOLD ($TSX:ORE) announced its earnings results for the first quarter of FY2023, ending on March 31, 2023. The company’s total revenue was up to USD 81.7 million, compared to 0.0 million it made in the same period of the previous year. Moreover, net income also increased to USD 22.6 million, in comparison to -5.0 million from the prior year.
Market Price
The stock opened at CA$1.6 and closed at the same price, representing a 0.6% decrease from the previous closing price of CA$1.6. Despite the slight dip in the stock value, OREZONE GOLD remains relatively stable in the current market. The company was able to make use of existing resources while simultaneously exploring new sources of gold, allowing them to improve their operational efficiency while also increasing their production. The company also announced that they were able to reduce their costs by 5% during the quarter, leading to higher profitability. This reduction in costs was attributed to strategic cost-cutting measures put in place by the management team.
Additionally, OREZONE GOLD is focused on sustainability and has taken steps to reduce their environmental impact and promote responsible gold mining practices. Overall, OREZONE GOLD had a successful first quarter of the fiscal year 2023. The company remains optimistic about their future growth as they continue to make steady progress towards their long-term goals. Investors should keep an eye on the stock for further updates as the company continues to report its quarterly earnings results. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Orezone Gold. More…
| Total Revenues | Net Income | Net Margin |
| 125.14 | 28.54 | 21.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Orezone Gold. More…
| Operations | Investing | Financing |
| 47.21 | -75.93 | 61.17 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Orezone Gold. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 292.24 | 174.52 | 0.34 |
Key Ratios Snapshot
Some of the financial key ratios for Orezone Gold are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 0.0% | – | 33.2% |
| FCF Margin | ROE | ROA |
| -23.1% | 25.6% | 8.9% |
Analysis
At GoodWhale, we’ve analyzed OREZONE GOLD’s wellbeing and based on our Risk Rating, it’s a high risk investment. Our analysis has detected 3 risk warnings in the balance sheet, cashflow statement, and financial journal. With GoodWhale, you can rest assured that we’ve got you covered. Register with us to check it out and keep track of your investments. More…
Peers
The competition between Orezone Gold Corp and its competitors – Guskin Gold Corp, Soma Gold Corp, and WestKam Gold Corp – is fierce. Each company is vying for market share in the gold mining industry, and is constantly looking for ways to differentiate themselves in order to gain an edge over their competitors. All four companies have differing approaches to gold mining and vary in terms of resources, technology, and experience, making their competition for the best gold mines all the more intense.
– Guskin Gold Corp ($OTCPK:GKIN)
Guskin Gold Corp is a Canadian mining company with a focus on gold and base metal exploration and development. The company has a market capitalization of 6.67M as of 2023, indicating a relatively small size. Additionally, it has a negative return on equity of -62.21%. This indicates that the company is having difficulty generating returns from the money it invests in its activities. This could be an indication of weak performance, or an indication of the high risk associated with the industry.
– Soma Gold Corp ($TSXV:SOMA)
Soma Gold Corp is a mining and exploration company that mainly focuses on gold and precious metals. The company has a market cap of 53.74M as of 2023, which is an indication of the company’s size and value to shareholders. Additionally, Soma Gold has a very impressive Return on Equity of 117.06%, indicating that the company’s management is generating a good return on the capital invested in the company. This is an impressive figure and shows that Soma Gold is managing its resources efficiently and effectively, making it a great investment option.
– WestKam Gold Corp ($TSXV:WKG)
WestKam Gold Corp is a gold exploration and development company that operates in the Canadian province of British Columbia. The company has a market capitalization of 2.27 million dollars as of 2023, which is a measure of the total value of all the company’s outstanding shares. The company’s Return on Equity (ROE) stands at 3.4%, which is a measure of its profitability. The ROE takes into account the amount of equity capital used to generate earnings, and therefore is a good indication of how effectively management is using capital to generate profits. WestKam Gold Corp is focused on acquiring and advancing high-grade gold projects that have the potential to generate significant returns for shareholders.
Summary
Investors interested in OREZONE GOLD should be pleased with the company’s first quarter of FY2023 results. Revenue increased significantly from the previous year, reaching USD 81.7 million. Net income was also higher, at USD 22.6 million compared to -5.0 million in the prior year.
Moving forward, investors should keep an eye on how well the company is able to continue its growth. With such impressive results, OREZONE GOLD appears to be a worthwhile investment.
