Orla Mining Provides Update on Pit Wall Event at Camino Rojo

Orla Mining (TSX: OLA; NYSE: ORLA)

Provided a status update on the recent pit wall event that occurred at its Camino Rojo Oxide Mine in Zacatecas, Mexico. 

Camino Rojo experienced an uncontrolled material movement on the north wall on July 23rd resulting in no injuries or equipment damage.

 

 

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Orla Mining project panoramic view and location map

Orla Mining project panoramic view and location map – Zacatecas State, Mexico – Credits Orla Mining Ltd.

 

 

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Orla Mining TSX : OLA
Stage Development
Metals Gold
Market cap C$4.4 billion   @ C$13.35
Location Mexico + Nevada + Canada 
Website www.orlamining.com

 

 

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Comment

Well I have to admit I’m happy and relieved with today’s news release and the small fall in share price.

It could have been worse, and to be honest I thought it might be.

The company have approached this in the right way, and been open and transprent with shareholders, which is the correct and professional way to handle such a situation.

Management deserve credit for their conduct throughout a tough few days in my opinion.

 

 

Orla Mining Provides Update on Pit Wall Event at Camino Rojo

Vancouver, BC – August 5, 2025 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is providing a status update on the recent pit wall event that occurred at its Camino Rojo Oxide Mine in Zacatecas, Mexico.

Action plan in place to resume in-pit access, annual guidance updated 

 

Summary Detail 

  • Pit wall event: Camino Rojo experienced an uncontrolled material movement on the north wall on July 23rd resulting in no injuries or equipment damage.
  • Assessment: A geotechnical assessment, supported by third party consultants, has been ongoing which has informed an action plan and safe restart of mining.
  • North wall stabilization: A 50–80 metre pushback of the north wall is planned, with a redesigned slope and continuous monitoring to ensure safe operating conditions. Approximately 9.0 Mt of predominantly oxidized material (1:0.9 strip ratio, 0.74 g/t au) is expected to be removed and then crushed and stacked on the heap leach from the north wall.
  • No material was lost or sterilized in the pit wall event but rather the update to 2025 guidance is attributed to a deferral of production at Camino Rojo due to grade and recovery mix.

 

 

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Jason Simpson, President and Chief Executive Officer of Orla stated;

“While the north wall event at Camino Rojo was a temporary setback, it has reinforced the importance of our pit wall monitoring, technical planning, risk management, and operational discipline.

 

“The team onsite acted quickly before the event to ensure safety.

 

“Following the event, our broader team, supported by expert consultants, rapidly implemented a comprehensive action plan that prioritizes safety, reinforces slope stability, and allows for continued operations in Mexico, important for all stakeholders.”

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To read the full news release please click HERE

 

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Pit Wall Event Context

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As reported on July 23, 2025, and updated on July 24, 2025, Camino Rojo experienced an uncontrolled material movement along the temporary north wall of the open pit. Importantly, there were no injuries, equipment damage, or environmental impacts resulting from the event.

Ramp access to the pit remained intact; however, open pit mining operations were temporarily suspended while the Company undertook a geotechnical assessment to support a safe action plan and restart of in-pit mining activities.

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To read the full news release please click HERE

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The live gold price can be found HERE

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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 andrew@city-investors-circle.com

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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.

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Disclosure

At the time of writing the author holds shares in Orla Mining.

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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

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

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Orla Mining Achieves Record Quarterly Production with First Full Quarter Contribution from Musselwhite

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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=======

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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 andrew@city-investors-circle.com

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=======

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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.

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Disclosure

At the time of writing the author holds shares in Orla Mining.

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Orla Mining Delivers Initial Underground MRE for Camino Rojo

Orla Mining (TSX: OLA)

Provided the first underground Mineral Resource estimate for the Company’s Camino Rojo deposit located in Zacatecas, Mexico, representing a down plunge extension from the oxide open pit.

This news release presents the initial underground Mineral Resource estimate for the Camino Rojo deposit.

 

 

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Orla Mining Camino Rojo plant

Orla Mining heap leach pad, Solution pond, and Merrill-Crowe plant – Credit Orla Mining

 

 

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Orla Mining TSX : OLA
Stage Development
Metals Gold
Market cap C$3.94 billion   @ C$15.18
Location Mexico + Nevada + Canada 
Website www.orlamining.com

 

 

 

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Orla Mining Delivers Initial Underground Mineral Resource for Camino Rojo in Mexico, Paving the Way for Future Development Planning

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Vancouver, BC – June 5, 2025 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to provide the first underground Mineral Resource estimate for the Company’s Camino Rojo deposit located in Zacatecas, Mexico, representing a down plunge extension from the oxide open pit.

This news release presents the initial underground Mineral Resource estimate for the Camino Rojo deposit, incorporating mineralization hosted in the Camino Rojo Sulphides and extending into the underlying Zone 22.  Zone 22 represents the vertical and down plunge continuation of the Camino Rojo sulphide mineralization.

Summary Highlights:

  • Measured and Indicated Mineral Resource: 50.1 Mt at 2.45 g/t Au, 10.6 g/t Ag, and 0.25% Zn, averaging 2.58 g/t AuEq, totaling 3.95 Moz Au, 17.05 Moz Ag, 278 Mlbs Zn, and 4.16 Moz AuEq.
  • Inferred Mineral Resource: 5.6 Mt at 2.21 g/t Au, 10.9 g/t Ag, and 0.21% Zn, averaging 2.33 g/t AuEq, totaling 0.40 Moz Au, 1.95 Moz Ag, 26 Mlbs Zn, and 0.42 Moz AuEq.
  • Zone 22 accounts for only 7% (0.29 Moz AuEq) of the current underground Indicated Mineral Resource and 19% (0.08 Moz AuEq) of the current underground Inferred Mineral Resource. This represents only a portion of the defined mineralization in Zone 22, with drilling ongoing. The 2025 drilling results from Zone 22 will be incorporated in future resource updates.
  • Recovery model supported by ongoing metallurgical work: The mineral resource is divided into three spatially distinct zones, each with specific processing options for the Caracol-hosted mineralization: heap leaching (3%); cyanidation (CIL) (25%); and flotation followed by pressure oxidation (“POX”) as a pre-treatment prior to cyanidation (CIL with POX) (72%). These zones inform the resource recovery assumptions. Initial metallurgical testing indicates that material from Zone 22 is amenable to both cyanide leaching and flotation.  
  • Development strategy to advance the initial underground Mineral Resource towards possible future construction decision. This includes additional exploration, development planning for an exploration drift to allow for tighter spaced underground drilling, flowsheet design, further metallurgical testing, engineering studies, and permitting activities.

 

 

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– Jason Simpson, President and CEO commented

“This initial underground resource marks an important milestone at Camino Rojo.

 

“When we acquired the project, the scale of the mineralized system was clear, but the path forward was uncertain.

 

“This resource crystallizes our belief in the potential for a future underground operation. Our team has taken a systematic approach, and we will now look to increase confidence and establish a clear path to construction.”

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The live gold price can be found HERE

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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 andrew@city-investors-circle.com

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=======

,

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.

.

Disclosure

At the time of writing the author holds shares in Orla Mining.

.

 

 



Orla Mining Achieves Record Annual Gold Production

 Orla Mining (TSX: OLA; NYSE: ORLA)

Provided an operational update for the fourth quarter and year ended December 31, 2024, as well as preliminary 2025 guidance.

The Company produced 26,531 ounces of gold in Q4, bringing total annual gold production for 2024 to 136,748 ounces. Orla achieved its already improved 2024 production guidance range of 130,000 to 140,000 ounces, representing a 19% beat.

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Orla Mining Camino Rojo plant

Orla Mining heap leach pad, Solution pond, and Merrill-Crowe plant

 

 

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Orla Mining TSX : OLA
Stage Development
Metals Gold
Market cap C$2.6 billion   @ C$8.08
Location Mexico + Nevada + Canada + Panama
Website www.orlamining.com

 

Orla Mining Achieves Record Annual Gold Production, Meets Improved 2024 Production Guidance, and Announces Preliminary 2025 Guidance

 

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Vancouver, BC – January 16, 2025 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to provide an operational update for the fourth quarter and year ended December 31, 2024, as well as preliminary 2025 guidance.

The Company produced 26,531 ounces of gold in the fourth quarter, bringing total annual gold production for 2024 to 136,748 ounces.

As a result, the Company achieved its improved full-year 2024 production guidance range of 130,000 to 140,000 ounces, representing a 19% beat to the mid-point of its initial production 2024 guidance of 110,000 to 120,000 ounces.

As a result of this increased production the Company anticipates full year 2024 all-in sustaining cost[1] (AISC) to be at the low end of the improved guidance range of $800 to $900 per ounce of gold sold.

Complete financial and operating results for the fourth quarter and full year 2024 are expected to be provided on March 18, 2025.

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(All amounts expressed in millions of US dollars, as at December 31, 2024 and are unaudited)

Fourth Quarter and Year End 2024 Camino Rojo Oxide Mine Operational Update

Camino Rojo maintained higher mining rates during the fourth quarter as a result of the mine pit redesign to ensure steady production through 2024 and 2025.

The strip ratio was 1.54 for the quarter and 1.12 for the full year. Gold production in the fourth quarter totaled 26,531 ounces, in line with the plan.

An additional 4,100 ounces of gold remained in the refinery inventory as concentrate at year end due to the pour schedule and has been poured and shipped in January. Full year gold production achieved a record 136,748 ounces due to higher than planned tonnes stacked, higher grade processed, and higher recoveries due to finer crusher product size..

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Liquidity Position

During the fourth quarter 2024, the Company repaid the entirety of the outstanding balance of $58.4 million under its revolving credit facility, taking the Company to a debt free position. At December 31, 2024, Orla’s cash position was $160.8 million. 

2025 Guidance Summary (Preliminary)

This preliminary guidance does not reflect the benefits of the Company’s acquisition of the Musselwhite Mine from Newmont Corporation, announced on November 18, 2024, which is anticipated to close in the first quarter of 2025.

Updated 2025 guidance, including the Musselwhite Mine and corporate G&A will be provided following the transaction’s closing. this news release for additional information.

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Camino Rojo (Mexico)

In 2025, Camino Rojo expects to mine approximately 20 million tonnes, placing about 7 million tonnes of ore on the heap leach pad, stockpiling just over 1 million tonnes of low-grade ore.

In the first half of 2025, stacking will primarily consist of oxide ore, resulting in higher gold recovery rates.

The stacked ore blend will shift in the second half of 2025 which will see the stacking of more transition ore resulting in slightly lower gold recovery rates.

Total gross operating costs in 2025 are expected to be in line with 2024 but slightly lower gold production in 2025 is expected to result in higher cash costs and AISC per ounce.

Despite this, Camino Rojo’s first quartile costs are expected to continue to deliver strong cash margins. Sustaining capital in 2025 is mostly related to capitalized waste movement and completion of the live ore stockpile dome.

Exploration efforts in Mexico for 2025 are focused on advancing Zone 22 (Camino Rojo Extension) to an indicated mineral resource classification, as well as testing regional drill targets for new discoveries.

The Company plans to spend $16 million to conduct 22,000 metres of drilling in Mexico during the year.

In addition, the Company is advancing an initial underground resource estimate for the Camino Rojo Sulphides, which is expected to be released in the first half of the year.

Following this, additional studies will be undertaken to support a Preliminary Economic Assessment (PEA) for the Camino Rojo Sulphides.

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South Carlin Complex (Nevada)

In 2025, the Company is focused on advancing permitting and project development on the South Railroad Project, part of the larger South Carlin Complex. The Company intends to allocate $12 million toward project development expenses in 2025 at South Carlin Complex.

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Fourth Quarter 2024 Conference Call

Orla will host a conference call on Wednesday March 19, 2025, at 15:00 UK time, to provide a corporate update following the release of its financial and operating results for the fourth quarter 2024:

Dial-In Numbers / Webcast:

USA / International Toll:         +1 (646) 307-1952

Canada – Toll-Free:                +1 (888) 672-2415

Conference ID:                       6451818

Webcast:                     https://orlamining.com/investors/   

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The live gold price can be found HERE

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=======

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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 andrew@city-investors-circle.com

.

=======

,

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.

.

Disclosure

At the time of writing the author holds shares in Orla Mining.

.

 



Orla Expands High-Grade Mineralization 800 Metres

Orla Mining (TSX: OLA; NYSE: ORLA)

Provided an update on exploration at the Camino Rojo Extension, now referred to as “Zone 22”.

Drilling has extended mineralization 800 metres beyond the current open-pit resource, with Zone 22 remaining open at depth and along strike.

 

 

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Orla Mining

 

 

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Orla Mining TSX : OLA
Stage Development
Metals Gold
Market cap C$2.5 billion   @ C$7.75
Location Mexico + Nevada + Canada + Panama
Website www.orlamining.com

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Orla Expands High-Grade Mineralization 800 Metres Beyond Current Resource in Extension Drilling at Camino Rojo, Mexico

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Vancouver, BC – December 10, 2024 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to provide an update on exploration at the Camino Rojo Extension, now referred to as “Zone 22”.

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Summary Details:

  • Expanded Resource Potential: Drilling has extended mineralization 800 metres beyond the current open-pit resource, with Zone 22 remaining open at depth and along strike.
  • Drilling Progress: Over 32,000 metres drilled in 2024, with an additional 3,000 metres planned by year-end.
  • High-Grade Intersections: Notable results include 31.5 g/t AuEq over 2.7m and 11.2 g/t AuEq over 4.5m, among others.
  • Copper-Gold Discovery: A distinct Cu-Au-Ag mineralization event was identified, with copper grades up to 4.95%.
  • Upcoming Resource Estimate: An initial underground resource estimate for the Camino Rojo Sulphides, incorporating historical and 2024 Caracol-hosted intersections as well as a portion of the newly defined Zone 22 mineralization, is expected in early 2025, supporting a Preliminary Economic Assessment.

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Drill Highlights:

  • 31.5 g/t AuEq over 2.7m, incl. 143.4 g/t AuEq over 0.6m (Hole CRSX24-36C)
  • 11.2 g/t AuEq over 4.5m, incl. 22.4 g/t AuEq over 1.3m (Hole CRSX24-40A)
  • 11.1 g/t AuEq over 2.8m, incl. 16.9 g/t AuEq over 1.5m (Hole CRSX24-40A)
  • 5.68 g/t AuEq over 4.9m, incl. 27.8 g/t AuEq over 0.5m (Hole CRSX24-31)

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Sylvain Guerard, Orla’s Senior Vice President, Exploration said,

“The existing mineralization in the upper Caracol-host already set a strong foundation for the initial underground sulphide resource.

 

“It is now becoming clear that the future project will be enhanced by the Zone 22 Extension, and we continue to be impressed with the drill results: high-grade, polymetallic, and favourable metallurgy.

 

“Zone 22 remains wide-spaced drilled and open down-plunge, offering significant potential for further infill and step-out drilling to contribute to both resource growth and upgrades.” 

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To read the full news release, please click HERE

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The live gold price can be found HERE

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=======

.

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 andrew@city-investors-circle.com

.

=======

,

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.

.

Disclosure

At the time of writing the author holds shares in Orla Mining.

.

To read our full terms and conditions, please click HERE

 



Orla Mining Reports Q2 2024 Financial Results

Orla Mining (TSX: OLA)

Announced the results for the second quarter ended June 30, 2024.

Second quarter gold production was 33,206 ounces, at an AISC of US$782.

 

 

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Orla Mining Camino Rojo plant

Orla Mining heap leach pad, Solution pond, and Merrill-Crowe plant

 

 

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Orla Mining

 

 

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Orla Mining TSX : OLA
Stage Development
Metals Gold
Market cap C$1.84 billion   @ C$5.95
Location Zacatecas, Mexico + Nevada + Panama
Website www.orlamining.com

 

 

Orla Mining Reports Second Quarter 2024 Financial Results and Improves Annual Production and Cost Guidance

Robust Margin Expansion Driving Record Free Cash Flow

 

 

Vancouver, BC – August 12, 2024 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) today announces the results for the second quarter ended June 30, 2024.

(All amounts expressed in U.S. dollars unless otherwise stated)

 

Second Quarter 2024 Highlights

  • Second quarter gold production was 33,206 ounces and gold sold was 34,875 ounces (pre-released). Year to date, Camino Rojo has been performing better than plan and, as a result, the Company is increasing full year gold production guidance to 120,000 to 130,000 ounces from its initial guidance of 110,000 to 120,000 ounces.
  • Second quarter 2024 all-in sustaining cost¹ (“AISC”) was $782 per ounce of gold sold, while year to date AISC is $843 per ounce of gold sold. AISC guidance for the full year 2024 has been improved to a range of $800 to $900 per ounce of gold sold from the original guidance of $875 to $975 per ounce.
  • Adjusted earnings¹ for the second quarter were $23.0 million or $0.07 per share.
  • Net income for the second quarter was $24.3 million or $0.08 per share.
  • Second quarter operating profit margin² of 64%, and net profit margin³ of 29%.
  • Cash flow from operating activities before changes in non-cash working capital during the second quarter was $53.2 million.
  • Exploration and project expenditure1 was $9.7 million during the quarter, of which $3.1 million was capitalized and $6.6 million was expensed.
  • As at June 30, 2024, Orla’s cash balance was $154.3 million, an increase of $36.2 million over the previous quarter.  Net cash1 at the end of the quarter was $76.0 million.
  • During the quarter, the Company repaid $10.0 million on its revolving credit facility. Subsequent to quarter end, the Company made a further $20.0 million re-payment reducing the outstanding balance drawn to $58.4 million.

 

 

 

– Jason Simpson, President and Chief Executive Officer of Orla

“The combination of Camino Rojo’s consistent low-cost production with a higher gold price is driving margin expansion and strong cash flow for the business.

 

“This cash is being used to invest in growth and strengthen our balance sheet. We have established a strong foundation to build upon.”

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To read the full news release please click HERE

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The live gold price can be found HERE

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=======

 

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 andrew@city-investors-circle.com

.

=======

,

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.

.

Disclosure

At the time of writing the author holds shares in Orla Mining.

.

To read our full terms and conditions, please click HERE



Orla Mining Reports Positive Drilling Intersections at Camino Rojo Sulphides

Orla Mining (TSX: OLA)

Updated on its exploration activities at Camino Rojo Sulphide Extension from the first half of 2024.

Highlight results included 4.57 g/t Au, 19.4 g/t Ag, 2.56% Zn, (6.16 g/t AuEq) over 15m, incl. 51.1 g/t Au, 8.08% Zn over 0.8m.

 

 

.

Orla Mining project panoramic view and location map

Orla Mining project panoramic view and location map – Zacatecas State, Mexico

 

 

.

 

 

.

Orla Mining TSX : OLA
Stage Development
Metals Gold
Market cap C$1.84 billion   @ C$5.95
Location Zacatecas, Mexico + Nevada + Panama
Website www.orlamining.com

 

 

Orla Mining Reports Positive Drilling Intersections and Metallurgical Results at Camino Rojo Sulphide Extensions

 

.

Vancouver, BC – June 26, 2024 – Orla Mining Ltd.(TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to provide an update on its exploration activities at Camino Rojo Sulphide Extension from the first half of 2024.

Highlight results:

  • 4.57 g/t Au, 19.4 g/t Ag, 2.56% Zn, (6.16 g/t AuEq) over 15m, incl. 51.1 g/t Au, 8.08% Zn over 0.8m
  • 6.72 g/t Au, 7.7 g/t Ag, 0.79% Zn (7.24 g/t AuEq) over 6.6m, incl. 78.6 g/t Au, 8.24% Zn over 0.5m
  • 3.49 g/t Au, 7.60 g/t Ag, 1.06% Zn (4.12 AuEq) over 9.8m, incl. 16.6 g/t Au, 5.63% Zn over 1.5m
  • 86% gold recovery rate via bottle roll tests

.

2024 Camino Rojo Extension Exploration Results (Mexico):

This press release provides results from 19 drill holes and 13,500 metres drilled as part of the 30,000-metre Camino Rojo Extension drill program planned for 2024.

To date, 13 significant mineralized drill intersections outside the current resource have been identified, with a grade-by-thickness factor exceeding 30 g/t AuEq per metre (g/t*m).

The estimated true width of these intersections ranges from 5.7 to 21.4 metres. Narrower intervals, ranging from 0.4 to 1.6 metres, returned higher gold grades of 10.0 g/t to 78.6 g/t, and zinc values from 1.0% to 18.8%, often as part of wider zones of polymetallic mineralization ranging from a few metres to several tens of metres in core length.

.

Metallurgical Testing:

Cyanide bottle roll test work on the recent Extension drill holes showed an 86% gold recovery rate, rougher flotation yielded 84% gold recovery, and open-circuit zinc cleaner tests produced a concentrate grading 51.3% zinc and a 94% zinc recovery rate.

These positive metallurgical results are consistent with the results of last year’s gold recoveries of 81%-96% for bottle roll and 85%-88% for rougher flotation, highlighting the potential compatibility of this new mineralization style with both standard cyanide processing and flotation methods.

.

Future Exploration Plans:

The drill results indicate potential expansion of the Camino Rojo Sulphide resource at depth, extending beyond the current mineral resource down plunge by 500 metres and down dip by 300 metres.

This high-grade polymetallic (Au-Ag-Zn) semi-massive to massive replacement style mineralization remains open at depth.

The remainder of the current exploration program will focus on extending mineralization from 0.5 to 1 kilometre down-plunge of the current limit of mineral resources along the dike structures. This drilling is expected to test open mineralized trends and historical high-grade intersections to assess the broader potential of the growing Camino Rojo deposit.

 

.

Sylvain Guerard, Orla’s Senior Vice President, Exploration

“The 2024 Camino Rojo Extension drill program has yielded exciting results, including multiple significant mineralized intersections outside the current resource and excellent metallurgical testing outcomes.

 

“Our team is thrilled about continuing to expand mineralization along the dike structure and unlocking the Camino Rojo deposit’s full growth potential.

 

“Stay tuned for more updates as we continue to push the boundaries of exploration and discovery!”

 

.

To View Orla Mining’s historical news, please click here

.

——-

.

To read the full news release, please click HERE

.

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 andrew@city-investors-circle.com

.

=======

,

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.

.

Disclosure

At the time of writing the author holds shares in Orla Mining.

.



Orla Mining Starts 2024 with Strong Operating Performance

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.

 

 

.

 

 

.

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)

.

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.

 

 

April 10, 2024

Orla Mining Starts 2024 with Continued Strong Operating Performance at Camino Rojo

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)

.

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

 

.

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.

.

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

 

.

To read the full news release, please click HERE

.

Live spot metal prices can be found HERE

,

=======

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

=======

.

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 andrew@city-investors-circle.com

.

=======

,

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.

.

.

Disclosure

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

.

To read our full terms and conditions, please click HERE



Orla Mining Discovers New Style of Sulphide Mineralization at Camino Rojo

Orla Mining Ltd. (TSX: OLA)

Provided an update on its exploration activities on the extension of the Camino Rojo deposit in the second half of 2023. These recent exploration results emphasize that the Camino Rojo deposit remains open and has substantial upside potential. 

 

 

.

 

 

.

Orla Mining TSX : OLA
Stage Development
Metals Gold
Market cap C$1.51 billion   @ C$4.80
Location Zacatecas, Mexico + Nevada

.

Orla Mining Discovers New Style of Sulphide Mineralization at Camino Rojo Extending 0.5km Beyond Current Resources

 

.

4.86 g/t Au, 43.6g/t Ag, 1.27% Zn, 0.44% Pb, 0.09% Cu, (6.25 g/t AuEq) over 11.7 m,
incl. 28.6 g/t Au, 224g/t Ag, 4.35% Zn, 2.89% Pb, 0.29% Cu, (34.4 g/t AuEq) over 1.7 m
10.3 g/t Au, 37.8 g/t Ag, 3.81% Zn, 0.08% Pb, 0.12% Cu (12.7 g/t AuEq) over 5.6 m,
incl. 17.8 g/t Au, 71.0 g/t Ag, 7.19% Zn, 0.15% Pb, 0.17% Cu (22.3 g/t AuEq) over 2.9 m

 

 

Vancouver, BC – February 22, 2024 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to provide an update on its exploration activities on the extension of the Camino Rojo deposit (“Camino Rojo Extension”) in the second half of 2023. These recent exploration results emphasize that the Camino Rojo deposit remains open and has substantial upside potential.

.

Camino Rojo Extension (Mexico) Summary

Historical and recent exploration drilling targeted lower stratigraphy, beneath the existing resources. In 2023, a drill section was completed 450 metres down-plunge from the current mineral resources and revealed significant intersections of high-grade polymetallic (Au-Ag-Zn) semi-massive to massive replacement-style mineralization (Figure 1). Recent drilling shows that the Camino Rojo mineral system extends beyond the current mineral resource envelope, presenting a considerable opportunity for resource expansion.

  • 2023 Program: The 2023 Camino Rojo Extension drill program involved extending selected infill drillholes beyond the currently defined mineral resources and completing a down-plunge drill section to explore the distal extension into lower stratigraphy; 2,607 metres of drilling across four drill holes. Drill results reported in this press release have returned mineralized intercepts up to 450 metres down plunge of the existing open pitmineral resource boundaries.
  • Initial Metallurgy: The initial carbon-in-leach (CIL) bottle roll testing within the Camino Rojo Extension on material from CRSX-22-07 and CRSX-22-08C resulted in impressive gold recoveries between 81-96%. Flotation testing on the CRSX-22-07 material produced a gold concentrate with 85-88% gold recovery and a zinc concentrate with zinc grades of 52% and over 85% zinc recovery, for the polymetallic replacement-style mineralization.
  • 2024 Program: The Company plans to complete a 30,000-metre drill program in 2024 with two objectives: 1) to infill the down-plunge geometry, continuity, and endowment potential of mineralization along the projection of the Dike Zone, and 2) to step out broadly and further assess the extensive upside potential of this open mineralized system.

 

 

.

Sylvain Guerard, Orla Mining Senior Vice President, Exploration

“The recent drilling results have added a new dimension to our near-mine exploration program, unveiling an exciting new mineralization style in previously disregarded host rocks.

 

“With promising initial metallurgical results and substantial upside extension potential, we are committed to driving Orla’s 2024 exploration efforts towards expansion drilling as we look to unlock the full potential of the growing Camino Rojo deposit.”  –

.

To read the full news release, please click HERE

=======

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

=======

.

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 andrew@city-investors-circle.com

.

=======

,

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.

.

.

Disclosure

At the time of writing the author holds shares in Orla Mining.

.

Live spot metal prices can be found HERE

.

To read our full terms and conditions, please click HERE



Orla Mining Updates on Infill Drilling at Camino Rojo Sulphides

Orla Mining (TSX: OLA; NYSE: ORLA)

Provided an update on its exploration activities at the Camino Rojo Sulphides in the second half of 2023.

Results included 3.41 g/t Au over 36m, incl. 29.2 g/t Au over 3.0 m, and 2.94 g/t Au over 66.5 m, incl. 4.98 g/t Au over 16.5 m.

 

 

.

Orla MIning

 

 

.

Orla Mining TSX : OLA
Stage Development
Metals Gold
Market cap C$1.28 billion   @ C$4.07
Location Zacatecas, Mexico + Nevada + Panama

 

.

Orla Mining Provides an Update on Infill Drilling at Camino Rojo Sulphides Deposit with Multiple Highly Positive Drill Intersections

 

 

.

3.41 g/t Au over 36m, incl. 29.2 g/t Au over 3.0 m,

2.94 g/t Au over 66.5 m, incl. 4.98 g/t Au over 16.5 m,

2.44 g/t Au over 49.5 m, incl. 4.59 g/t Au over 21.0 m, and

2.22 g/t Au over 96.5 m, incl. 3.24 g/t Au over 33.9 m

 

Vancouver, BC – January 25, 2024 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to provide an update on its exploration activities at the Camino Rojo Sulphides in the second half of 2023.

 

.

2023 Exploration Highlights: Camino Rojo Sulphides (Mexico)

In 2023, Orla undertook a 37,677-metre drill program, strategically focusing on infilling higher-grade parts of the Camino Rojo Sulphides deposit to support a potential underground Mineral Resource estimate.

The primary objective was to enhance the understanding of geological controls of the deposit while extending selected drill holes to explore for sulphide mineralization beyond the current open pit Mineral Resource boundaries, referred to as the “Camino Rojo Extension.”

Orla previously presented results from 15 of 56 drill holes in the 2023 Sulphide drill program (June 22, 2023) and this news release presents results from an additional 23 drill holes. Results from the remaining 18 drill holes will be shared in the coming weeks.

Overall, infill drilling of the Camino Rojo Sulphides has consistently yielded long intercepts (>30 metres down holes) of greater than 2.0 grams of gold per tonne (g/t Au). These significant drill results align with previous work, reinforcing the potential for an underground mining scenario.

Recent drilling has returned notable high-grade intercepts exceeding 10 g/t Au over core lengths ranging from 0.7 metres to 3.0 metres. These high-grade intersections are part of wider intervals of greater than 2.0 g/t Au over tens of metres. The presence of high-grade gold results highlights the opportunity to enhance value through the potential implementation of more selective and targeted underground mining techniques.

.

.

Sylvain Guerard, Orla’s Senior Vice President, Exploration stated,

“New drill results at Camino Rojo are revealing more about controls on mineralization and hinting at potential for significant expansion below the current Mineral Resource in the Camino Rojo Extension.

 

“This data is crucial for our upcoming underground resource estimation, enhancing our understanding of this important part of our growth pipeline.”

.

,

Drill result highlights include:

Camino Rojo Sulphides
Hole CRSX23-17

incl.

 2.54 g/t Au over 68.5m

13.1 g/t Au over 1.5m
Hole CRSX23-19C:

incl.

and incl.

 

 2.08 g/t Au over 124.5 m

2.46 g/t Au over 60.0m, and incl. 11.7 g/t Au over 1.5m

.

=======

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

=======

.

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 andrew@city-investors-circle.com

.

=======

,

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.

.

.

Disclosure

At the time of writing the author holds shares in Orla Mining.

.



Orla Mining Reports Positive Results of Layback and Oxide Extension Drilling

Orla Mining (TSX: OLA)

Provided an update on its near-pit exploration activities at Camino Rojo completed in the second half of 2023.

In 2023, Orla completed 6,500 metres of drilling near the Camino Rojo Oxide Mine in Mexico to define additional oxide mineralization near the open pit.

 

 

.

Orla Mining Camino Rojo plant

Orla Mining heap leach pad, Solution pond, and Merrill-Crowe plant

 

 

.

Orla Mining TSX : OLA
Stage Development
Metals Gold
Market cap C$1.28 billion   @ C$4.07
Location Zacatecas, Mexico + Nevada + Panama

 

.

Orla Mining Reports Positive Results of Layback and Oxide Extension Drilling at Camino Rojo Mine

.

.

Targeting Additional Near Mine Oxide Ounces

.

.

Vancouver, BC – January 18, 2024 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to provide an update on its near-pit exploration activities at Camino Rojo completed in the second half of 2023.

.

2023 Exploration Highlights: Camino Rojo Oxides (Mexico)

In 2023, Orla completed 6,500 metres of drilling near the Camino Rojo Oxide Mine in Mexico to define additional oxide mineralization near the open pit.

This near-pit exploration included 2,500 metres of drilling to confirm oxide gold mineralization on the Fresnillo plc property (the “Layback Area”), located immediately north of and adjacent to the Camino Rojo Oxide Mine open pit, and 4,000 metres of drilling targeting the extension of oxide gold mineralization hosted by key structures controlling deeper levels of oxide mineralization within and beyond the currently designed oxide open pit .

An updated resource is planned for the first half of 2024, incorporating, for the first-time, mineral resources in the Layback Area.

.

.

.

Sylvain Guerard, Orla’s Senior VP, Exploration, Orla MIning stated,

“Our 2023 near-mine exploration validated near-surface oxide gold in the Layback Area and uncovered oxide expansion potential near the edge of the Camino Rojo Oxide Mine.

 

“The positive results from our near-mine oxide drilling program highlight the opportunity to replace a portion of the depleted ounces at the mine by incorporating incremental near-mine oxide material.

 

“These positive results pave the way for the 2024 near-mine drill program.”

.

.

 

The Layback Area drilling confirmed and delineated gold mineralization immediately north of and adjacent to the Camino Rojo Oxide Mine open pit (Figure 2). Results from the Layback Area drill program confirmed historical drill results and the continuity of oxide hosted gold mineralization across the property boundary.

.

.

Highlights of the Layback Area drill program:

Camino Rojo Layback
Hole CRLB23-03 : 0.85 g/t Au over 76.0 m incl. 1.28 g/t Au over 28.0 m and
1.27 g/t Au over 10.5 m
Hole CRLB23-08 : 0.48 g/t Au over 67.0 m incl. 1.00 g/t Au over 5.8 m

.

To read the full news release, please click HERE

=======

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

=======

.

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 andrew@city-investors-circle.com

.

=======

,

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.

.

.

Disclosure

At the time of writing the author holds shares in Orla Mining.

.



Orla Mining Increases 2023 Production Guidance

Orla Mining (TSX: OLA)

Provided an interim operational update for the third quarter ended September 30, 2023.

During Q3 the Camino Rojo Oxide Mine produced and sold 32,425 and 31,060 ounces of gold, respectively. Year to date, Camino Rojo has been performing better than plan and, as a result, the Company is increasing full year gold production guidance to 110,000 to 120,000 Oz Gold.

 

 

.

Orla Mining Camino Rojo plant

Orla Mining heap leach pad, Solution pond, and Merrill-Crowe plant

 

 

.

Orla Mining TSX : OLA
Stage Development
Metals Gold
Market cap C$1.44 billion   @ C$4.58
Location Zacatecas, Mexico + Nevada + Panama

.

.

Orla Mining Provides Third Quarter 2023 Operational Results and Increases 2023 Annual Gold Production Guidance

.

.

Vancouver, BC – October 16, 2023 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to provide an interim operational update for the third quarter ended September 30, 2023.

During the third quarter of 2023, the Camino Rojo Oxide Mine produced and sold 32,425 and 31,060 ounces of gold, respectively.

Year to date, Camino Rojo has been performing better than plan and, as a result, the Company is increasing full year gold production guidance to 110,000 to 120,000 ounces from its initial guidance of 100,000 to 110,000 ounces. 

As at September 30, 2023, Orla had a cash position of US$132.7 million and US$36.7 million undrawn on its revolving credit facility for total liquidity of US$169.4 million.

Subsequent to quarter end, Orla repaid US$25 million towards its revolving credit facility, reducing the balance outstanding under the facility to US$88.4 million.

Third Quarter 2023 Conference Call

Orla will host a conference call on Tuesday November 14, 2023, at 10:00 AM, Eastern Time, to provide a corporate update following the release of its financial and operating results for the third quarter 2023:

Dial-In Numbers / Webcast:

Conference ID:           5844017

Toll Free:                     1 (888) 550-5302

Toll:                             1 (646) 960-0685

Webcast:                    https://orlamining.com/investors/presentations-and-events/

.

=======

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

=======

.

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 andrew@city-investors-circle.com

.

=======

,

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.

.

.

Disclosure

At the time of writing the author holds shares in Orla Mining.

.

To read our full terms and conditions, please click HERE



Orla Mining Successful Drilling Program

 Orla Mining (TSX: OLA)

Updated on its exploration activities at Camino Rojo in the first half of 2023.

Infill drilling to reduce drill spacing to 25-30 metres in the Sulphides domain has continued to return high-grade gold intercepts.

 

.

Orla Mining Camino Rojo plant

Orla Mining heap leach pad, Solution pond, and Merrill-Crowe plant

 

.

.

Orla Mining TSX : OLA
Stage Development
Metals Gold
Market cap C$1.85 billion   @ C$6.24
Location Zacatecas, Mexico + Nevada + Panama

 

.

 

Orla Mining Provides Update On Successful Drilling Program In Mexico

 

3.26 g/t Au over 56.9 m (Camino Rojo Sulphide Zone), 5.90 g/t AuEq over 8.5 m (Camino Rojo Deep Extension), and 61.2 g/t over 1.3 m (Regional Exploration)

 

.

Orla Mining (TSX: OLA) updated on its exploration activities at Camino Rojo in the first half of 2023.

Infill drilling to reduce drill spacing to 25-30 metres in the Sulphides domain has continued to return high-grade gold intercepts.

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2023 Exploration Highlights: Camino Rojo (Mexico)

Camino Rojo Sulphides (“Sulphides”): Infill drilling to reduce drill spacing to 25-30 metres in the Sulphides domain has continued to return high-grade gold intercepts (>2 g/t) over wide widths (>30 m). Notable results include:

Camino Rojo Sulphides
Hole CRSX22-11: 2.87 g/t Au over 93.0 mincl. 3.69 g/t Au over 48.5 m
Hole CRSX22-12A: 3.26 g/t Au over 56.9 m
Hole CRSX22-13: 3.11 g/t Au over 34.0 mincl. 10.29 g/t Au over 5.6 m
Hole CRSX22-13: 2.12 g/t Au over 43.0mincl. 2.78 g/t Au over 26.0 m
Hole CRSX23-14: 2.00 g/t Au over 38.5 m
Hole CRSX23-14A: 1.89 g/t Au over 63.0 mincl. 2.75 g/t Au over 31.5 m
Hole CRSX23-16A: 1.62 g/t Au over 62.6 mincl. 7.72 g/t Au over 6.0 m
Hole CRSX23-17A 3.18 g/t Au over 24.5 m
Hole CRSX23-17A 4.18 g/t Au over 12.0 mincl. 23.7 g/t Au over 1.5m
Hole CRSX23-17C: 3.16 g/t Au over 29.0 m
Hole CRSX23-17C: 3.05 g/t Au over 42.0 m

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Camino Rojo Deep Extension (“Deep Extension”): A new style of polymetallic (Au-Ag-Zn) semi-massive to massive sulphide mineralization has been confirmed in drill holes testing below the Caracol Formation hosted Sulphides. These deeper intercepts indicate mineralization remains open at depth along and adjacent to interpreted feeder-like structures for the currently defined Camino Rojo deposit. Notable results include1:

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Camino Rojo Sulphides Deep Extension
Hole CRSX23-15C: 5.90 g/t AuEq over 8.5 m (3.52 g/t Au, 26.2 g/t Ag, 3.64% Zn, 0.26% Cu)
Hole CRSX23-15C: 7.28 g/t AuEq over 3.3 m (4.54 g/t Au, 6.7 g/t Ag, 5.49% Zn, 0.06% Cu),
incl. 8.00 g/t Au, 7.6g/t Ag, 12.5% Zn, 0.11% Cu over 1.2m)
Hole CRSX23-15C: 17.6 g/t AuEq over 1.5 m (15.4 g/t Au, 6.7 g/t Ag, 4.39% Zn, 0.04% Cu)

Regional Exploration: Follow-up drilling at the Guanamero target area, located approximately 7 km northeast of the Camino Rojo mine along the mine structural trend, returned encouraging and narrow high-grade gold results with occurrences of visible gold (VG) in two of the seven holes completed. Notable assay results include1:

Camino Rojo Regional Exploration (Guanamero)
Hole CRED23-05: 0.69 g/t Au over 10.5 m incl. 4.02 g/t Au over 1.5 m (visible gold)
Hole CRED23-05: 0.94 g/t Au over 3.3 m incl. 1.08 g/t Au over 1.7 m
Hole CRED23-06: 61.2 g/t Au over 1.3 m (visible gold)
Hole CRED23-06: 2.72 g/t Au over 1.5 m

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Sylvain Guerard, Orla’s Senior Vice President, Exploration stated;

“The 2023 Camino Rojo Sulphides infill and deep extension drill programs continue to generate excellent gold intersections, including massive sulphide replacement style mineralization below the current resource.

 

“These results are exciting as they enhance future development opportunity scenarios and provide resource growth potential at depth.

 

“We have also encountered high-grade gold assays with visible gold, highlighting the prospectivity on our under-explored regional land package.

 

“We are advancing a full exploration pipeline in 2023 in an effort to upgrade and expand reserves and resources and make new discoveries.”

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To read the full news release, please click 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

=======

.

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 andrew@city-investors-circle.com

.

=======

,

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.

.

.

Disclosure

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

.

.

To read our full terms and conditions, please click HERE

 



Orla Mining Reports Q4 and Year End Results

Orla Mining (TSX: OLA)

Announced the results for the fourth quarter and year ended December 31, 2022.

Gold production during the fourth quarter was 32,017 ounces and total gold production for 2022 was 109,596 ounces, achieving high end of the increased annual production guidance range of 100,000 to 110,000 ounces. 

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Orla Mining Camino Rojo plant

Orla Mining heap leach pad, Solution pond, and Merrill-Crowe plant.

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Orla Mining TSX : OLA
Stage Development
Metals Gold
Market cap C$2 billion   @ C$6.71
Location Zacatecas, Mexico + Nevada + Panama

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Orla Mining Reports Fourth Quarter and Year End 2022 Results

Strong First Year at Camino Rojo Provides Foundation for Growth

VANCOUVER, BC – March 16, 2023 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) today announces the results for the fourth quarter and year ended December 31, 2022.

(All amounts are in U.S. dollars unless otherwise stated)

Fourth Quarter and Full-Year 2022 Highlights:

  • Gold production during the fourth quarter was 32,017 ounces and total gold production for 2022 was 109,596 ounces, achieving high end of the increased annual production guidance range of 100,000 to 110,000 ounces (pre-released, please see the news release dated January 16, 2023, Orla Mining Achieves High End of Increased 2022 Production Guidance and Provides 2023 Guidance).
  • All-in sustaining costs (“AISC”)1,2 of $634 per ounce of gold sold during the fourth quarter 2022 resulting in a full year 2022 AISC of $611 per ounce, at the low end of the guidance range of $600-$700/oz.
  • Adjusted earnings for the fourth quarter was $20.7 million or $0.07 per share and for the full year 2022 was $57.1 million or $0.21 per share.
  • Net income for the fourth quarter was $18.7 million or $0.06 per share which included $5.6 million in expensed exploration and development costs across the portfolio. Net income for the full year 2022 was $45.8 million or $0.17 per share, which included $18.9 million in expensed exploration and development costs.
  • Cash flow from operating activities before changes in non-cash working capital during the fourth quarter and for the full year 2022 were $55.1 million and $111.1 million, respectively. Free cash flow1 during the fourth quarter and for the full year 2022 totalled $11.6 million and $82.0 million, respectively.
  • Cash balance of $96.3 million and net debt of $49.5 million at December 31, 2022.
  • Successfully completed the commissioning and ramp-up of the Camino Rojo Oxide Mine on time and under budget with declaration of commercial production on April 1, 2022.
  • Completed refinancing of project facility in April 2022 with a $150 million secured credit facility.
  • Strengthened growth pipeline with the acquisition of Gold Standard Ventures Corp. (“Gold Standard”), the owner of the South Railroad Project (“South Railroad”), a permitting-stage, open pit, heap leach project located on the Carlin trend in Nevada. Exploration at South Railroad was immediately reactivated upon completion of the transaction.

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Jason Simpson, President and Chief Executive Officer of Orla Mining said;

“2022 was a monumental year for Orla as we transitioned to a cash flowing gold producer.

 

“The strong cash flows from Camino Rojo will provide a foundation to build upon. Our rich pipeline of exploration and development assets, which we are aggressively advancing, will be critical in growing the Company and increasing value for shareholders.

 

“We thank our stakeholders and partners for their continued support.”

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..

To read the full news release, please click HERE

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=======

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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 andrew@city-investors-circle.com

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=======

,

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.

.

.

Disclosure

At the time of writing the author holds shares in Orla Mining.

.

.

To read our full terms and conditions, please click HERE



Orla Mining Continues Explortion Success

Orla Mining (TSX: OLA)

Provided an update on its 2022 exploration activities at Camino Rojo and provided an overview of its 2023 exploration plans in Mexico.

Updates on Orla’s exploration activities in Nevada, US and Panama will be provided in the first quarter. 

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Orla Mining project panoramic view and location map

Orla Mining project panoramic view and location map – Zacatecas State, Mexico

 

 

Orla Mining Continues to Intersect Wide, Higher-Grade Sulphide Zones and Expose Deeper Potential at Camino Rojo, Mexico

 

4.66 g/t Au over 64.0 m (Sulphide Zone), 4.02 g/t Au & 1.5% Zn over 22.9 m (Deep Potential), Regional Program Ramping Up with Encouraging Results.

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Vancouver, BC – January 31, 2022 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to provide an update on its 2022 exploration activities at Camino Rojo and provide an overview of its 2023 exploration plans in Mexico. Updates on Orla’s exploration activities in Nevada, US and Panama will be provided in the first quarter.

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2022 Exploration Highlights: Camino Rojo (Mexico)

Camino Rojo Sulphides: The Sulphide drill program continued to return higher-grade gold intercepts (>2 g/t) over wide widths (>30 m). Notable results include:

  • Hole CRSX22-09B: 4.66 g/t Au over 64.0 m
  • Hole CRSX22-09A 2.76 g/t Au over 79.0 m, incl. 3.22 g/t Au over 55.0m
  • Hole CRSX22-08C: 2.81 g/t Au over 70.0 m
  • Hole CRSX22-10A: 1.92 g/t Au over 87.0 m, incl. 3.14 g/t Au over 25.5 m
    and 1.74 g/t Au over 73.5m, incl. 2.61 g/t Au over 24.0 m

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Camino Rojo Deep Potential: Drill results have shown that gold mineralization extends deeper than the limit of the current mineral resource. These deeper intercepts suggest gold mineralization remains open at depth along and adjacent to interpreted feeder-like structures for the currently defined Camino Rojo deposit. Notable result include:1

  • Hole CRSX22-07: 4.02 g/t Au & 1.5% Zn over 22.9 m, incl. 56.7 g/t Au & 17.2% Zn over 0.6 m

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Regional Exploration: Encouraging drill result on the first diamond drill core hole completed outside the footprint of the Camino Rojo mine. The Guanamero target area is located approximately 7 km northeast of the Camino Rojo mine along the mine structural trend. Notable results include:1

  • Hole CRED22-01: 0.54 g/t over 7.10 m, incl. 4.12 g/t over 0.7 m (from 51.4 m)
    and 1.35 g/t over 2.35 m, incl. 5.59 g/t over 0.5 m (from 104.95 m)

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Sylvain Guerard, Orla’s Senior Vice President, Exploration stated;

“The 2022 infill drilling of the sulphide extension of the Camino Rojo deposit has consistently generated exceptional gold intersections enhancing future development opportunity scenarios and potential to grow the resource at depth.

 

“We are excited to advance a full exploration pipeline in 2023 in an effort to upgrade and expand reserves and resources and make new discoveries on our large and under explored land package”.

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2022 Exploration: Camino Rojo (Mexico)

Exploration at Camino Rojo in 2022 focused on advancing the understanding of the sulphide deposit (the “Sulphide Project” or “Camino Rojo Sulphides”) and testing priority regional targets to make new satellite discoveries.

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Near Mine Exploration Results

Drill results at Camino Rojo Sulphides continue to support potential for underground development

Drilling continues to intercept wide zones of higher-grade gold mineralization, and in conjunction with metallurgical results from the 2021 drilling (see news release dated May 9, 2022), supports the potential for underground development and a standalone processing option for the Camino Rojo Sulphides.​

A large part of the 2022 program included infilling the sulphide deposit and improving the geological model to support potential underground mine development scenario. A total of 9,174 metres was completed in 15 holes, with 5 holes previously reported (see news release dated September 12, 2022 – Orla Mining Advances Exploration & Growth Pipeline).

The 15 holes completed in 2022 returned 32 significant mineralized drill intercepts with grade-by-thickness factor greater than 50 g/t by metre Au (g/t * m), including 16 intercepts with grade-by-thickness factor greater than 100 g/t by metre Au. Full drill results are available in the Appendix to this news release and are available at www.orlamining.com.

The current mineral resource estimate for the Sulphide Project at Camino Rojo consists of 74 koz of measured resource (3.358 million tonnes at 0.69 g/t gold) and 7,221 koz of indicated resources (255.445 million tonnes at 0.88 g/t gold) and has an effective date of June 7, 2019.2

 

Figure 1: Camino Rojo Sulphides 2022 Drill Program Hole Location (Plan View)

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This news release has been abridged for brevity. To read the full news release, please click HERE

.

=======

.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

=======

.

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 andrew@city-investors-circle.com

.

=======

,

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.

.

.

Disclosure

At the time of writing the author holds shares in Orla Mining.

.

.

To read our full terms and conditions, please click HERE



Orla Mining Record Quarterly Gold Production of 32,017 Ounces

Orla Mining (TSX: OLA)

Provided an operational update for the fourth quarter ended December 31, 2022, a record for gold production.

This news release also includes the Company’s 2023 annual guidance which contains the outlook for production.

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Orla Mining Camino Rojo plant

Orla Mining heap leach pad, Solution pond, and Merrill-Crowe plant

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Orla Mining TSX : OLA
Stage Development
Metals Gold
Market cap C$1.62 billion   @ C$5.64
Location Zacatecas, Mexico + Nevada + Panama

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Orla Mining Achieves High End of Increased 2022 Production Guidance and Provides 2023 Guidance

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Record Quarterly Gold Production of 32,017 Ounces

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Vancouver, BC – January 16, 2022 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to provide an operational update for the fourth quarter ended December 31, 2022. This news release also includes the Company’s 2023 annual guidance which contains the outlook for production, operating and capital costs, and exploration spending across the Company’s portfolio.

(All amounts are in U.S. dollars unless otherwise stated)

 

2022 Camino Rojo Oxide Mine Operational Update

The Camino Rojo Oxide Mine produced 32,017 ounces of gold in the fourth quarter of 2022, for a total of 109,596 ounces of gold for the full year 2022, achieving the high end of the increased production guidance range of 100,000 to 110,000 ounces.

Orla’s initial production guidance for 2022 was 90,000 to 100,000 ounces of gold and was increased at the end of the third quarter to a range of 100,000 to 110,000 ounces of gold.

Additional operational details for the fourth quarter are found near the end of this news release.

All-in Sustaining Costs (“AISC”)1,2 guidance for the year 2022 has been maintained at $600 to $700 per ounce of gold sold and financial results will be released in advance of the Fourth Quarter and Year End 2022 Conference Call.

Orla ended the year with a cash position of $96.6 million at December 31, 2022, a net increase of $7.5 million during the fourth quarter.

During the fourth quarter, the Company made the third of four payments to Fresnillo plc (“Fresnillo”), for the amount of $15 million, related to the Layback Agreement (see news release dated March 23, 2020), and also made the first quarterly principal repayment of $5.6 million on its credit facility.

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2023 Guidance Summary

Gold Production oz 100,000 – 110,000
All-in Sustaining Costs (“AISC”)1,2 $/oz Au sold $750 – $850
Capital Expenditures1,2
   Sustaining Capital Expenditures1 $m $6
   Non-Sustaining Capital Expenditures1 $m $4
Exploration
   Mexico $m $20
   USA (Nevada) $m $10
   Panama $m $3
   Total Exploration $m $33
Site Admin & Permitting Expenses (Nevada/Panama) $m $11
Corporate G&A $m $15
  1. AISC, sustaining capital and non-sustaining capital are non-GAAP measures. See the “Non-GAAP Measures” section of this news release for additional information.
  2. Exchange rates used to forecast cost metrics include MXN/USD of 20.0 and CAD/USD of 1.28

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Jason Simpson, President and Chief Executive Officer of Orla stated:

“2022 was a defining year for Orla as we made the successful transition from developer to producer.

 

“In 2023, cash generation from the high-margin Camino Rojo Mine will be invested into our prospective growth pipeline, the local communities, paying taxes, and strengthening our balance sheet to the benefit of all our stakeholders.”

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To read the full news release, please click HERE

.

=======

.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

=======

.

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 andrew@city-investors-circle.com

.

=======

,

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.

.

.

Disclosure

At the time of writing the author holds shares in Orla Mining.

.

.

To read our full terms and conditions, please click HERE



Orla Mining Earnings Call Transcript

Orla Mining (TSX: OLA)

Recently released their Q1 2022 earnings results.

This is a transcript of their shareholder call which highlights the low AISC of the Camino Rojo project in Mexico.  […] 

 

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Orla Mining TSX : OLA
Stage Development
Metals Gold
Market cap C$1.24 Billion   @ C$5
Location Zacatecas, Mexico + Panama

 

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Orla Mining Camino Rojo plant

Orla Mining heap leach pad, Solution pond, and Merrill-Crowe plant

 

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Orla Mining (TSX: OLA) recently released their Q1 2022 earnings results.

This is a transcript of their shareholder call which highlights the low AISC of the Camino Rojo project in Mexico.

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To read the article in full, please click HERE

.

=======

.

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

=======

.

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 andrew@city-investors-circle.com

.

=======

,

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.

 

.

Disclosure

At the time of writing the author owns shares in Orla Mining, bought in the market at the prevailing price on the day of purchase.

.

.

To read our full terms and conditions, please click HERE



Orla Mining Close to Commercial Production

Orla Mining Ltd. (TSX: OLA)

Provided an operational update for the Camino Rojo Oxide Mine.

​​​​​​85% of nameplate stacking capacity was achieved in January. The company has achieved sales of US$10,2 million.  […] 

 

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Orla Mining TSX : OLA
Stage Development
Metals Gold
Market cap C$1.25 Billion   @ C$5.05
Location Zacatecas, Mexico + Panama

 

 

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Orla Mining Camino Rojo vista

Orla Mining Camino Rojo vista

 

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Orla Mining Ramping Up Operations Towards Commercial Production at Camino Rojo

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VANCOUVER, BC – February 16, 2022 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to provide an operational update for the Camino Rojo Oxide Mine.

​​​​​​85% of nameplate stacking capacity was achieved in January

 

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Orla Mining management comments

“Now that we have poured gold and begun the transition to producer, the team remains focused on achieving steady state operations”.

 

“We look forward to announcing commercial production and achieving project completion on schedule and on budget”.

Jason Simpson, President and Chief Executive Officer of Orla Mining.

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(All amounts are in U.S. dollars unless otherwise stated)

CAMINO ROJO OXIDE MINE OPERATIONAL UPDATE

  • Camino Rojo Oxide Mine poured first gold on December 13, 2021. Gold production totalled 2,422 ounces in 2021 and 6,263 ounces January 2022.
  • Commissioning activities are substantially complete; mining and processing throughput rates and availabilities are in-line with the ramp-up plan. The Company is targeting declaration of commercial production and release of 2022 production and cost guidance in the first quarter of 2022.
  • The average daily stacking throughput for January was 15,210 tonnes per day or 84.5% of nameplate capacity of 18,000 tonnes per day. Process recoveries to date are in line with the metallurgical recovery model.

 

 

Camino Rojo Stacking Tonnes per Day

  • During the month of January, the operations mined 447,730 tonnes of ore at an average gold grade of 0.65 g/t. To date, mined block model ore tonnes and grade are reconciling to within 0.5% of the block model. Since the commencement of mining operations, a considerable amount of additional mined material modelled as waste has converted to ore and was mined and crushed or stockpiled (737,000 tonnes of ore at an average gold grade of 0.68 g/t and 490,000 tonnes of low-grade ore at an average gold grade of 0.27 g/t).
  • Camino Rojo project construction was 99% complete as of January 31, 2022, with only punch list activities remaining to be completed. In December and January, the following construction activities were completed:
    • Dry and wet commissioning of the crushing and conveying circuits as well as the Merrill-Crowe plant.
    • Installation of heap leach liner in cell two and event pond, placement of overliner material on cell two of the heap leach, commissioning of the third and final overland conveyor.
    • Construction of the airstrip.
  • Camino Rojo capital expenditures are $116.8 million for the project to date as of January 31, 2022. The current project estimate at completion totals $134.1 million, consistent with the total project capital expenditure estimate, and the remaining project spend will occur in the first half of the year. The project estimate at completion includes $3.5 million in unallocated contingency that is not forecasted to be spent. Management, therefore, anticipates the Camino Rojo Oxide Project to be completed within the total project capital estimate.
  • Total expenditures related to working capital and initial fills for the project totalled $9.8 million as at December 31, 2021, in-line with the initial budget. As of January 1, 2022, all working capital items are accounted for as operating costs.
  • Since the first gold pour on December 13, 2021, to January 31, 2022, the Company has generated $10.2 million in gold and silver sales. The Company had a cash balance of $20.5 million at December 31, 2021, and $20.8 million at January 31, 2022.
  • Operational safety and environmental performance continues to be excellent and strict COVID-19 measures implemented at Camino Rojo have allowed an uninterrupted operational ramp up.
  • To date, of all employees and contractors at Camino Rojo, 99% have received at least one dose of COVID-19 vaccine and 95% have received two doses of COVID-19 vaccine.
  • At the end of January 2022, Camino Rojo workforce totalled 190 employees with 100% of individuals from Mexico and 56% from the local surrounding communities.

 

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UPCOMING MILESTONES

  • Achieving commercial production at Camino Rojo Oxide Mine
  • 2022 production and cost guidance
  • Metallurgical results for Camino Rojo Sulphides Project

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For brevity, this summary has been redacted, to read the full news release, please click HERE

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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 andrew@city-investors-circle.com

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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.

 

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Disclosure

At the time of writing the author holds shares of Orla Mining bought in the market at the prevailing price on the days of purchase.

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To read our full terms and conditions, please click HERE

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Orla Mining Construction on Track and Budget

Orla Mining (TSX: OLA)

Management reviewed the Q3 earnings and delivered a positive report on the construction of their Camino Rojo gold oxide mine construction in Mexico.

Everything is on track and on budget, with construction close to completion. A transcript of the call can be found here   […] 

 

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Orla Mining TSX : OLA
Stage Development
Metals Gold
Market cap C$1.38 Billion   @ C$5.59
Location Zacatecas, Mexico + Panama

 

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Orla Mining project panoramic view and location map

Orla Mining project panoramic view and location map – Zacatecas State, Mexico

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Orla Mining (TSX: OLA) Management reviewed the September 2021 Q3 earnings, and delivered a positive report on the construction of their Camino Rojo gold oxide mine construction in Mexico.

Everything is on track and on budget, with construction close to completion.

A transcript of the Q3 call can be found HERE.

Orla have a healthy cash balance after having closed a C$35 million financing during the quarter.

The first gold pour is close and project execution this far has been excellent, especially when one considers it has been running through a pandemic, and Mexico has suffered badly.

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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  andrew@city-investors-circle.com

.

=======

,

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.

.

 

Disclosure

At the time of publishing the author holds shares in Orla Mining, bought in the market at the prevailing price on the day of purchase.

.

 

To read our full terms and conditions, please click HERE