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Orezone and Osisko Report Mixed Q2 2024 Financial Results

Orezone faces operational challenges but anticipates stronger H2, while Osisko adjusts guidance following asset impairment.

Overview

  • Orezone's Q2 gold production dropped 28% due to lower grid power availability and head grades.
  • Orezone expects improved performance in H2 with new mining areas and better grid power reliability.
  • Osisko reported record operating cash flows despite a net loss caused by a significant asset impairment.
  • Osisko's Q2 revenues increased, but guidance was lowered due to production issues at the Eagle mine.
  • Both companies are advancing strategic initiatives and expansions to bolster future growth.