Orla Mining Ltd. (TSX: OLA)
Provided the results of a PFS, mineral resource, and mineral reserve estimates on its Cerro Quema Oxide Gold Project located in the Azuero Peninsula, Los Santos Province, Panama.
This is a low capex, low AISC project in the mold of their Camino Rojo project.
|Orla Mining||TSX : OLA|
|Market cap||C$1.3 Billion @ C$5.26|
|Location||Zacatecas, Mexico + Panama|
VANCOUVER, BC – July 28, 2021 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to provide the results of a Pre-Feasibility Study (“PFS”) and mineral resource and mineral reserve estimates on its Cerro Quema Oxide Gold Project (the “Project” or “Cerro Quema”) located in the Azuero Peninsula, Los Santos Province, Panama.
The PFS demonstrates the possibility of a low cost, high return heap leach project. The estimated Project after-tax net present value (“NPV”) (5% discount rate) is $176 million with an after-tax internal rate of return (“IRR”) of 38% at a gold price of US$1,600 per ounce.
Orla Mining management comments
“We believe that our assets in Panama represent an opportunity for organic growth in our business”
“The results of the PFS suggest that Cerro Quema can be another low-risk, high margin oxide project for Orla.
“The completion of the PFS provides a pathway towards continued engineering, project advancement, and a future construction decision.
“We also believe there is significant opportunity for project optimization and mineral resource expansion in Panama and work is just beginning.”
Jason Simpson, President and CEO of Orla Mining
Based on an ore processing rate of 10,000 tonnes per day or 3.65 million tonnes per year, the Project has an estimated six-year mine life.
The Project’s low stripping ratio, high gold recoveries, and low operating costs all contribute to a low estimated AISC of $626 per ounce of gold.
Initial capital expenditures or pre-production capital for the Cerro Quema Project is estimated at US$164 million.
Total capital for the life of the Project, including sustaining and working capital, is estimated at US$212 million. This excludes reclamation and closure costs which are estimated at US$15 million.
City Investors Circle is based in the financial district in the City of London
We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.
Our audience is selected and invited individually to ensure interest and relevance for the presenting company.
Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.
We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.
If you wish to present to our select group of active mining investors, please email firstname.lastname@example.org
This website is not sponsored, we are truly independent, and will always remain so.
Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.
All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.
These articles are for awareness and informational purposes only, and are not recommendations in any form. Always consult an investment professional.
At the time of writing the author holds shares in Orla Mining, bought in the market at the prevailing price on the day of purchase.