Orla Mining Starts 2024 with Strong Operating Performance

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Orla Mining (TSX: OLA; NYSE: ORLA)

Provided an interim operational update for the first quarter ended March 31, 2024 and an update on its activities in Panama.

The Camino Rojo Oxide Mine produced 33,223 ounces and sold 32,046 ounces of gold during Q1 2024.

 

 

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Orla Mining TSX : OLA
Stage Development
Metals Gold
Market cap C$1.8 billion   @ C$5.70
Location Zacatecas, Mexico + Nevada

 

Orla Mining Starts 2024 with Strong Operating Performance at Camino Rojo

(All amounts expressed in millions of US dollars, as at March 31, 2024 and are unaudited unless otherwise stated)

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First Quarter 2024 Camino Rojo Oxide Mine Operational Update

The Camino Rojo Oxide Mine produced 33,223 ounces and sold 32,046 ounces of gold during the first quarter 2024.

 

 

Vancouver, BC – April 10, 2024 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to provide an interim operational update for the first quarter ended March 31, 2024 and an update on its activities in Panama.

(All amounts expressed in millions of US dollars, as at March 31, 2024 and are unaudited unless otherwise stated)

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First Quarter 2024 Camino Rojo Oxide Mine Operational Update

The Camino Rojo Oxide Mine produced 33,223 ounces and sold 32,046 ounces of gold during the first quarter 2024.

Camino Rojo Mining and Processing Totals Q1 2024
Ore Mined tonnes 1,943,865
Waste Mined tonnes 872,571
Total Mined tonnes 2,816,435
Strip Ratio w:o 0.45
Ore Stacked tonnes 1,783,305
Daily Stacked Throughput Rate – Average tpd 19,597
Stacked Ore Gold Grade g/t 0.82
Gold Produced oz 33,223
Gold Sold oz 32,046

 

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At March 31, 2024, Orla had a cash position of $118.1 million and total debt position of $88.4 million, resulting in a net cash position of $29.7 million¹.

The Company has $61.6 million undrawn on its revolving credit facility which supports total liquidity of $179.7 million at quarter end¹. The current liquidity position is shown below.

Financial and operating results for the first quarter 2024 will be provided on May 14, 2024.

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Liquidity Position

Cash position $118.1
Long-term debt2 $88.4
Net cash1,2 $29.7
Undrawn debt available $61.6
Total available liquidity1 $179.7

 

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To read the full news release, please click HERE

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Live spot metal prices can be found HERE

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If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

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Disclosure

At the time of writing the author holds shares in Orla MIning

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