Orezone Update on Bombore and Burkina FasoOTTAWA, ONTARIO--(Marketwired - Nov. 3, 2014) - Orezone Gold Corporation (TSX:ORE) has temporarily halted its activities in Burkina Faso until the political situation in country has stabilized. All personnel are safe and accounted for. Although the area around Bomboré has been relatively calm during the recent events, minor vandalism occurred at the Bomboré camp over the weekend. Our staff and the local community at Bomboré, including the police and local representatives, have been very supportive with respect to the safety or our employees, camp security and our efforts to continue to develop the project; for that we are grateful..
Link: http://www.marketwired.com/press-release/orezone-update-on-bombore-and-burkina-faso-tsx-ore-1963735.htm
In den letzten Handelstagen hatte es etliche Rohstoffaktien, die in Burkina Faso tätig sind, brutal erwischt. Die meisten Aktien erlebten zusammen mit dem Absturz im Goldminen-Sektor einen wahren Crash..
Hierzu ein Ausschnitt aus einem informativen Beitrag von CEO.CA:
"..There are a number of public mining companies with significant exposure (>33% of assets) to Burkina Faso, including many single asset developers. These include:
- SEMAFO (SMF:TSX) – Mana mine located 350km west of the capital of Ouagadougou and is set to produce 200-220koz of gold in 2014 (100% of the company’s production)
- True Gold Mining (TGM:TSXV) – Karma development project which is now funded and is well into construction (100% of the company’s assets). Located 185km northwest of Ouagadougou.
- Roxgold (ROG:TSX) – Yaramoko is one of the highest grade undeveloped gold deposits in the world and is about to start construction. They are working on finalizing loan documentation on a $75 million facility package which could present problems if the lenders get scared. (100% of the company’s assets). Located roughly 200km southwest of Ouagadougou.
- Orezone (ORE:TSX) – Bombore development project is located 100km southeast of Ouagadougou. It is moving forward with a few studies, but has been fairly inactive recently so there should be less impact here. Bombore represents essentially all of Orezone’s value.
- Nordgold (NORD:LSE) – Bissa gold mine is located approximately 85km north of Ouagadougou. The company also operates the Taparko mine located 200km northeast of Ouagadougou. Combined, the two projects account for almost 40% of the company’s revenues.
Others with more diversified portfolios but that still have exposure to Burkina Faso include:
- IAMGOLD (IMG:TSX) – Essakane gold mine accounts for roughly 1/3rd of IAMGOLD’s annual production. The mine is located 330km northeast of the capital of Ouagadougou. IAMGOLD recently sold its Niobec niobium mine in Quebec to Aaron Regent’s Magris Resources reducing the company’s diversification.
- Endeavour Mining (EDV:TSX) – currently the company only has one mine, Youga that is in operation in Burkina Faso. Youga accounts for less than 25% of their gold production. However, the company’s growth is linked to the Hounde development project which is projected to add 180,000 ounces of gold annually to Endeavour’s 400,000 ounce per year profile (45% increase). This could have a material impact on the stock should instability spread and last.
- B2Gold (BTO:TSX) – Kiaka was acquired when B2Gold bought Volta in 2013 for $63 million. The project is large and has the potential to add 340,000 ounces to B2Gold’s production profile, but it has been on the back burner since it was acquired as the project likely requires higher gold prices to justify the capex requirement.
- Glencore (GLEN:LSE) – Perkoa zinc mine is located 120km away Ouagadougo and is the first large scale base metal mine in the country. It’s estimated to produce 90,000 tonnes of contained metal over a 12 year mine-life. This is a small portion of Glencore’s global operations.."
Quote:
Former president Sankara ghost hangs over Burkina Faso turmoil
Link: http://www.monitor.co.ug/News/National/Former-president-Sankara-ghost-hangs-over/-/688334/2507434/-/llhyam/-/index.html
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