Companies · Mining & Resources

Orezone Gold Corp

Vancouver · Mining & Resources · refined from filed group “Other

Diligence memoA one-page analyst read on Orezone Gold Corp — recommendation, valuation, rhythm, risks.
$43.9M
Total raised · real
6
Rounds
1.0×
Latest step-up
Top 5%
Sector rank · raised
Series B
Latest stage · inferred · Thu Jun 02 2022 00:00:00 GMT+0000 (Coordinated Universal Time)

Orezone Gold Corp looks under-valued against its niche peers and is dormant on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the extractive sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Under-valued
  • Modeled value is 0.13× the median modeled value of Series B Mining & Resources companies in 2022–2024 (13 peers) — value vs value, same stage and era.
Dormant
  • Last raise 4.1 yr ago; this sector typically re-raises about every 11 months.
  • Silent for over 3× the sector's normal cadence.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Mining & Resources

Orezone Gold Corp is one of 701 Mining & Resources companies tracked from Vancouver. By capital raised it ranks among the largest (ahead of 96% of sector peers), and in the upper tier by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$50M$100M$150M$200MSeed · 2010-01-22 Raised $1.2M (real) Modeled valuation $6.3M (est)Seed2010Series A · 2010-12-21 Raised $4.8M (real) Modeled valuation $21M (est)Series A2010Series A · 2015-07-21 Raised $1.7M (real) Modeled valuation $7.5M (est)Series A2015Series B · 2018-04-09 Raised $31M (real) Modeled valuation $151M (est)Series B2018Series B · 2020-07-01 Raised $2.4M (real) Modeled valuation $11M (est)Series B2020Series B · 2021-02-08 Raised $2.4M (real) Modeled valuation $11M (est)Series B2021Series B · 2022-06-02 Raised $2.4M (real) Modeled valuation $10M (est)Series B2022+$4.8M+$1.7M+$31M+$2.4M+$2.4M+$2.4MCumulative $46M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Seed$1.2M · 2010
Series A$4.8M · 2010
Series A extension$1.7M · 2015
Series B$31.4M · 2018
Series B extension$2.4M · 2020
Series B extension$2.4M · 2021
Series B extension$2.4M · 2022

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 75%.

Modeled valuation trajectory
$10.5M
Base estimate est.
$5.7M
Conservative case
$27.9M
Upside case
$13.3M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Ba $15M–$40M round). Valuation is modeled from stage benchmarks scaled by the extractive sector profile. Directional, not a quoted figure.

Seed · modeled $6.3M · 2010-01-222010Series A · modeled $21.1M · 2010-12-21Series A · modeled $7.5M · 2015-07-21Series B · modeled $150.5M · 2018-04-09Series B · modeled $11.5M · 2020-07-01Series B · modeled $11.2M · 2021-02-08Series B · modeled $10.5M · 2022-06-022022
Model inputs · modeled:benchmark-stage-stepup-v1
18%
Dilution assumption
Implied ownership sold in the financing.
65%
Survival probability
43% low · 79% high
1.05×/yr
Annual markup
1.27×/yr upside case
4.1 yr
Elapsed time used
4.1 yr actual, capped for stale marks
extractive
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
25 mo
Avg between rounds
$3.6M/yr
Capital velocity
16.4 yr
On record since
2010
First round
7
Rounds on file
How it compares to the market

Benchmarked against 701 companies in Mining & Resources. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 19× above median
This company$43.9M
Sector median$2.3M
Latest round — vs other Series B rounds in sector (real $, this stage) 0.4× of median
This company$2.4M
Sector median$6.3M
Modeled value — vs sector median (estimate, all stages) 4.1× above median
This company$10.5M
Sector median$2.5M

Raised more than 96% of sector peers (real $). Modeled value above 79% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series B) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #11 of 13.

This companyCohort peer
$1.0M$10.0M$100.0M$1.0B$1.0M$10.0M$100.0MCapital raised (log)Sustainable Metals Solutions LLC · Series B Raised $31.8M · modeled $132.3M (est)Crystal Mountain Gold Mine, Llc · Series B Raised $30.0M · modeled $131.3M (est)Monetary Metals Bond III LLC · Series B Raised $30.6M · modeled $120.4M (est)Gold Royalty Corp. · Series B Raised $27.5M · modeled $118.8M (est)Coeur Mining, Inc. · Series B Raised $44.0M · modeled $100.5M (est)MARATHON GOLD Corp · Series B Raised $27.2M · modeled $92.4M (est)Brazil Minerals, Inc. · Series B Raised $26.4M · modeled $81.6M (est)Valhalla Metals Inc. · Series B Raised $19.3M · modeled $78.2M (est)Calibre Mining Corp. · Series B Raised $40.4M · modeled $57.2M (est)Americas Gold & Silver Corp · Series B Raised $41.2M · modeled $34.3M (est)East Asia Minerals Corp · Series B Raised $8.4M · modeled $6.5M (est)Orezone Gold Corp (this company) Raised $43.9M · modeled $10.5M (est)Orezone Gold Corp
CompanyStageRaised · realValue · estvs peer med.
Sustainable Metals Solutions LLCSeries B$31.8M$132.3M1.62×
Crystal Mountain Gold Mine, LlcSeries B$30.0M$131.3M1.61×
Monetary Metals Bond III LLCSeries B$30.6M$120.4M1.48×
Gold Royalty Corp.Series B$27.5M$118.8M1.46×
Coeur Mining, Inc.Series B$44.0M$100.5M1.23×
MARATHON GOLD CorpSeries B$27.2M$92.4M1.13×
Brazil Minerals, Inc.Series B$26.4M$81.6M1.00×
Valhalla Metals Inc.Series B$19.3M$78.2M0.96×
Calibre Mining Corp.Series B$40.4M$57.2M0.70×
Americas Gold & Silver CorpSeries B$41.2M$34.3M0.42×
Orezone Gold Corp this companySeries B$43.9M$10.5M0.13×
East Asia Minerals CorpSeries B$8.4M$6.5M0.08×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Seed$1.2M2010-01-22$5.8M$6.3M85%
Series A$4.8M2010-12-21$22.0M$21.1M85%
Series A$1.7M2015-07-21$7.8M$7.5M85%
Series B$31.4M2018-04-09$174.3M$150.5M90%
Series B$2.4M2020-07-01$13.3M$11.5M90%
Series B$2.4M2021-02-08$13.3M$11.2M90%
Series B$2.4M2022-06-02$13.3M$10.5M90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Seed$1.2M2010-01-22
    • First recorded raise — entered as Seed.
    • 2 investors on this round.
  2. Series A$4.8M2010-12-21
    • Raised 11 mo later, in step with the ~11 mo sector norm.
    • Round 4.2× larger than the prior — scaling up.
    • 1 investor on this round.
  3. Series A$1.7M2015-07-21
    • Raised again after 55 mo — slower than the ~11 mo sector norm.
    • Round 2.8× smaller than the prior — bridge or down round.
    • Switched to Rule 506(b) (was Rule 06).
    • 7 investors on this round.
  4. Series B$31.4M2018-04-09
    • Raised again after 33 mo — slower than the ~11 mo sector norm.
    • Round 18.2× larger than the prior — scaling up.
    • 7 investors on this round.
  5. Series B$2.4M2020-07-01
    • Raised again after 27 mo — slower than the ~11 mo sector norm.
    • Round 13.1× smaller than the prior — bridge or down round.
  6. Series B$2.4M2021-02-08
    • Raised 7 mo later, in step with the ~11 mo sector norm.
    • Round roughly the size of the prior one.
  7. Series B$2.4M2022-06-02
    • Raised 16 mo later, in step with the ~11 mo sector norm.
    • Round roughly the size of the prior one.
Intelligence
2024 ~Q2
Modeled next raise · ~25mo cadence
$2.4M
Modeled next size est.range $2.4M$3.8M
1.0×
Last step-up
$3.6M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Tim Miller7 other2018-04
Patrick Downey5 other2018-04
Charles Oliver2 other2018-04
Keith Peck2 other2018-04
Michael Halvorson2 other2018-04
Patrick G. Downey2 other2015-07
Joseph Conway1 other2018-04
Louis Archambeault1 other2020-07
Marco Locascio1 other2020-07
Pascal Marquis1 other2018-04
RYAN GOODMAN1 other2020-07
Stephen Axcell1 other2020-07
Alain H. Krushnisky2010-01
Dale Tweed2022-06
Greg N. Bowes2010-01
Ian Chang2020-07
James H. Gill2010-01
Joe McCoy2018-04
Joe N. McCoy2015-07
Joseph N. Conway2015-07
Joseph N. McCoy2010-12
Kate Harcourt2020-07
Keith L. Peck2015-07
Marco Locasio2021-02
Registry & provenance

Orezone Gold Corp is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1482601
SEC CIK
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
Terra Rossa Gold Ltd.Mining & ResourcesSeed$4.7M$1.8Mnetwork2 shared operators · same sector
Lost River Mining, Inc.Mining & ResourcesSeries B$51.2M$13.0Msame sector · same stage
Premier Gold Mines LtdMining & ResourcesSeries B$37.1M$10.7Msame sector · same stage
Platinum Group Metals LtdMining & ResourcesSeries B$35.7M$12.0Msame sector · same stage
Western Alaska Minerals Corp.Mining & ResourcesSeries B$28.0M$4.6Msame sector · same stage
Energy & Power Solutions, Inc.Other EnergySeries B$35.5M$63.8Mnetwork1 shared operator · same stage
Excelsior Mining Corp.Mining & ResourcesSeries A$15.1M$678Knetwork1 shared operator · same sector
Besra Gold Inc.Mining & ResourcesSeries B$76.8M$13.3Msame sector · same stage
Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
Orex Minerals IncMining & ResourcesSeed$1.6M87%
Goldgroup Mining Inc.Mining & ResourcesSeed$1.1M87%
U.S. Gold Corp.Mining & ResourcesSeries B$115.0M86%
Orestone Mining Corp.Mining & ResourcesPre-Seed$325K85%
Moneta Gold Inc.Mining & ResourcesSeed$6.3M84%
Metallic Minerals Corp.Mining & ResourcesSeed$7.5M84%
Gold Port CorpMining & ResourcesPre-Seed$417K84%
Gold Bull Resources Corp.Mining & ResourcesPre-Seed$2.1M84%
Frequently asked
How much funding has Orezone Gold Corp raised?
Orezone Gold Corp has raised approximately $43.9M in disclosed capital across 6 recorded financing rounds, aggregated from public filings.
What is Orezone Gold Corp's estimated valuation?
Provath's modeled valuation for Orezone Gold Corp is approximately $10.5M (modeled range $5.7M–$27.9M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Orezone Gold Corp at?
Orezone Gold Corp's latest modeled financing stage is Series B. Its most recent recorded round closed around Thu Jun 02.
What does Orezone Gold Corp do and where is it based?
Orezone Gold Corp operates in the Mining & Resources sector, based in Vancouver.
Explore related

See where Orezone Gold Corp sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.

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