Orla Mining Achieves Record Quarterly Production
Orla Mining (TSX: OLA; NYSE: ORLA)
Provided an operational update for the second quarter ended June 30, 2025. The company reported a record quarterly production including a first contribution from Musselwhite.
Orla remains on track to achieve annual consolidated production guidance of 280,000 to 300,000 ounces of gold.
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Orla Mining – Musselwhite Gold Mine – Credits Orla Mining
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| Orla Mining | TSX : OLA | |
| Stage | Development | |
| Metals | Gold | |
| Market cap | C$4.75 billion @ C$14.60 | |
| Location | Mexico + Nevada + Canada | |
| Website | www.orlamining.com |
Vancouver, BC – July 10, 2025 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to provide an operational update for the second quarter ended June 30, 2025. Orla remains on track to achieve annual consolidated production guidance of 280,000 to 300,000 ounces of gold following the quarter.
(All amounts expressed in millions of US dollars, as at June 30, 2025 and are unaudited)
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Second Quarter Operational Update
| Total Gold Production & Sales | Q2 2025 | YTD Q2 2025 | |
| Camino Rojo | oz | 25,145 | 55,118 |
| Musselwhite | oz | 52,666 | 70,4521 |
| Total Gold Produced | oz | 77,811 | 125,570 |
| Total Gold Sold | oz | 78,911 | 125,267 |
| Camino Rojo, Mexico | Q2 2025 | YTD Q2 2025 | |
| Ore Stacked | tonnes | 2,608,589 | 4,281,415 |
| Stacked Ore Gold Grade | g/t | 0.57 | 0.66 |
| Gold Produced | oz | 25,145 | 55,118¹ |
| Gold Sold | oz | 26,591 | 57,103 |
| Musselwhite, Canada | Q2 2025 | YTD Q2 202 | |
| Ore Milled | tonnes | 294,568 | 398,855 |
| Milled Ore Gold Head Grade | g/t | 5.52 | 5.52 |
| Gold Produced | oz | 52,666 | 70,452 |
| Gold Sold | oz | 52,318 | 68,163 |
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Camino Rojo Operations
During the quarter, Camino Rojo mined nearly 2.0 million tonnes of ore and 2.6 million tonnes of waste, for an implied strip ratio of 1.33. A total of 1.7 million tonnes of ore were stacked at an average grade of 0.71 g/t gold equating to an average daily stacking rate of about 18.5 thousand tonnes.
In addition, 0.9 million tonnes of low-grade ore were rehandled and placed on the leach pad, averaging 0.32 g/t gold. In total, 2.6 million tonnes of ore at an average grade of 0.57 g/t gold were placed on the heap leach pad during the quarter.
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Musselwhite Operations
During the quarter, Musselwhite mined 303,000 tonnes of ore and milled 295,000 tonnes at a mill head grade of 5.52 g/t gold. Gold recovery was 96.5% resulting in gold production of 52,666 ounces.
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Liquidity Position
During the second quarter, Orla repaid $30.0 million towards its revolving credit facility, ahead of schedule, bringing the outstanding drawn amount to $120.0 million. At June 30, 2025, Orla’s cash position was $215.4 million, resulting in a net debt position of $204.6 million².
| Cash position – June 30, 2025 | $215.4 million |
| Debt | ($420.0) million |
| Net Debt² | ($204.6) million |
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Second Quarter 2025 Conference Call
Orla expects to release its second quarter 2025 operating and financial results on Monday, August 11, 2025, and will host a conference call on Tuesday, August 12, 2025, at 10:00 AM, Eastern Time, to provide a corporate update.
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Dial-In Numbers / Webcast:
USA / International Toll: +1 (646) 307-1963
Canada – Toronto: +1 (647) 932-3411
Canada – Toll-Free: +1 (800) 715-9871
Conference ID: 3544395
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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