Provided an operational update for the first quarter ended March 31, 2025.
Camino Rojo is on track to achieve annual guidance of 110,000 to 120,000 ounces of gold following the quarter.
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Orla Mining – Musselwhite Gold Mine – Courtesy of Orla Mining
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| Orla Mining | TSX : OLA | |
| Stage | Development | |
| Metals | Gold | |
| Market cap | C$5 billion @ C$15.65 | |
| Location | Mexico + Nevada + Canada + Panama | |
| Website | www.orlamining.com |
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Orla Mining Achieves Record Quarterly Production, market cap tops CAD$5 billion
(All amounts expressed in millions of US dollars, as at March 31, 2025 and are unaudited)
First Quarter Operational Update
| Total Gold Production & Sales | Q1 2025 | |
| Camino Rojo | oz | 29,973 |
| Musselwhite (March only)1 | oz | 17,786 |
| Total Gold Produced | oz | 47,759 |
| Total Gold Sold | oz | 46,356 |
| Camino Rojo, Mexico | Q1 2025 | |
| Ore Stacked | tonnes | 1,672,826 |
| Stacked Ore Gold Grade | g/t | 0.78 |
| Gold Produced | oz | 29,973 |
| Gold Sold | oz | 30,512 |
| Musselwhite, Canada | March 20251 | |
| Ore Milled | tonnes | 104,287 |
| Milled Ore Gold Head Grade | g/t | 5.55 |
| Gold Produced | oz | 17,786 |
| Gold Sold | oz | 15,845 |
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Camino Rojo Operations
During the quarter, Camino Rojo mined nearly 1.9 million tonnes of ore and 2.8 million tonnes of waste, for an implied strip ratio of 1.48. The operations achieved a daily stacking rate of 18.4 thousand tonnes per day at an average gold grade of 0.78 g/t, in line with the mine plan.
Musselwhite Operations
Orla completed the acquisition of Musselwhite on February 28, 2025, and operational figures are provided from March 1, 2025, onwards.
During the month of March, Musselwhite mined 108 thousand tonnes of ore and milled 104 thousand tonnes at a mill head grade of 5.55 g/t gold. Gold recovery rates of 95.7% resulted in gold production of nearly 18,000 gold ounces.
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Liquidity Position
| Cash position – March 31, 2025 | $184.2 million |
| Debt | ($450.0) million |
| Net Debt2 | ($265.8) million |
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First Quarter 2025 Conference Call
Orla expects to release its first quarter 2025 operating and financial results on Friday, May 9, 2025, and will host a conference call on Monday, May 12, 2025, at 15:00 PM, UK time, to provide a corporate update.
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Dial-In Numbers / Webcast:
International Toll: +1 (646) 307-1963
Canada – Toronto: +1 (647) 932-3411
Conference ID: 4940392
Webcast: https://orlamining.com/investors/
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The live gold price can be found HERE
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Disclosure
At the time of writing the author holds shares in Orla Mining.
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