The Globe and Mail reports in its Tuesday, June 20, edition that Canaccord Genuity analyst Jeremy Hoy assumed coverage on Monday on Orezone Gold with a "buy" recommendation following the departure of a colleague. The Globe's David Leeder writes that Mr. Hoy set a share target of $3.25. Analysts on average target the shares at $2.46. Mr. Hoy says in a note: "Under the stewardship of CEO Pat Downey, Bombore was built on time and under budget following an 18-month construction period, and achieved commercial production on December 1, 2022. The newly constructed 5.2Mtpa 'Phase I' oxide plant achieved full capacity after only a single month and is now outperforming design with ORE guiding to 5.7Mtpa this year, teeing up gold production (100-per-cent basis) of 155koz at $1,035/oz AISC in 2023. Further growth sits on the horizon as the company eyes the 'Phase II' expansion into Bombore's sulphide material, expected to be completed in 2024/2025 via construction of a new 4.4Mtpa (per ORE) sulphide circuit to be outlined in an upcoming R&R update/Feasibility Study, expected H2/23. We see the upside potential from this expansion as significant, given the larger and higher-grade existing global resource base."