Ronald Little is not new to West Africa; in fact, he might be one of the most seasoned junior resource leaders in this region of the world.
Having been responsible for over $1.2 billion worth of transactions with his predecessor company Orezone Resources, Little knows a thing or two about getting the job done.
He is the Founder and CEO of Orezone Gold(ORE:TSX), which is the latest beaten down junior miner with a proven management team, to be highlighted in our EBook focused on small-cap buyouts.
Ron Little’s success in West Africa
We go in depth into the past successes of Ronald Little in the Burkina Faso region, where Orezone Gold’s flagship asset is located, in our recently released EBook highlighting 50 of the top buyouts in Canada’s small cap market.
While Little’s success in West Africa is proven, he is fighting a very weak gold market currently. Little’s previous deal, Orezone Resources, was taken over by IAMGOLD in early 2009 for the company’s Essakane Mine, located in West Africa.
Click the below image and link to learn more about the executives who took juniors to stunning multi-million dollar buyouts.
Orezone is a Canadian company with a gold discovery track record of more than 12 million ounces. In addition, the company has recent mine development experience in Burkina Faso, West Africa.
Orezone owns a 100% interest in Bomboré, the largest undeveloped oxide gold deposit in West Africa which is situated 85 km east of the capital city, adjacent to an international highway.
Orezone boasts Bombore as being the largest undeveloped gold deposit in the region. At 4.56 million ounces of Measured & Indicated and 0.72 million ounces of Inferred resources (April 2013) within optimized open-pit shells.
Two other highlights are that the average depth of drilling to date has only been 120 metres and that 50% of the resource occurrs within 50 metres of surface.
The Company is continuing with various technical studies in order to be in a position to complete a full feasibility study and an application for a mining permit in H1 2015.
On January 27th, Orezone announced it had signed a royalty purchase agreement with Sandstorm Gold Ltd. (NYSE MKT:SAND)(TSX: SSL) that provides up to US$8.0 million in financing to advance its Bomboré Project in Burkina Faso, West Africa.
Ron Little, Orezone’s Founder and CEO, commented that, “This financing provides the financial flexibility to complete the Bomboré Feasibility Study and apply for the mining permit in H1 2015.”
And that,
“Both are significant milestones that will lay the foundation for a full project financing.”
Click here to read more.
Similar to True Gold Mining, which we have written about in length, Sandstorm has stepped up to invest in a company operating in West Africa. In True Gold’s case, Franco Nevada and Sandstorm Gold entered into a US$100-million stream agreement. FN currently owns 75% with Sandstorm at 25%.
True Gold has reported that, “Based on the current Feasibility Study, the Agreement is anticipated to fully fund the construction of the Karma Project in Burkina Faso, West Africa.”
source: http://www.truegoldmining.com/our-projects/karma-project
While this deal was announced in August of 2014, it was definitely not lost on other gold developers in Burkina Faso, West Africa.
Back to Ron Little…
Mr. Little has spent the last 20 years focused on African projects and was responsible for over $1B of transactions with the predecessor company Orezone Resources Inc., according to the company’s website.
On November 24th, Orezone Gold Corp. provided an update on the ongoing feasibility study work at its 100%-owned Bomboré Gold Project in Burkina Faso. Below is a short excerpt.
“The technical work is progressing well and we are pleased with the continued positive results that reinforce our preliminary testwork, guidance and designs,” said Tim Miller, Chief Operating Officer for Orezone. “We are on schedule to complete the study in Q1 2015 and apply for a mining permit to develop the project in Q2 2015.”
To read more about how the company’s latest feasibility study is going, click here.
Gold continues to decline as junior miners struggle
Gold was off nearly $15 an ounce Monday to $1,185 as junior miners such as Orezone Gold continued to struggle.
The Market Vectors® Junior Gold Miners ETF (GDXJ) was off 3.4% and was having its worst day since March 10th.
Stength in management, access to capital and a low cost of production are becoming true neccessities in today’s challenging market for junior gold stocks. Orezone Gold has been sold off with the vast majority of juniors, falling from a high above $5 in 2011 to a recent low of $0.37 per share. Its shares were off 1 penny to $0.43 Monday afternoon.
One thing is obvious: Ron Little is as experienced as any in the business, particularly when it comes tosmall-cap buyouts in the Burkina Faso region of West Africa.
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