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 Reports Pit Wall Event at Camino Rojo

Orla Mining (TSX: OLA; NYSE: ORLA)

Reported that an uncontrolled material movement event occurred today on the pit wall at its Camino Rojo Oxide Mine in Zacatecas, Mexico.

 

 

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Orla Mining Camino Rojo plant

Orla Mining heap leach pad, Solution pond, and Merrill-Crowe plant – 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 Reports Pit Wall Event at Camino Rojo

Vancouver, BC – July 23, 2025 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) reports that an uncontrolled material movement event occurred today on the pit wall at its Camino Rojo Oxide Mine in Zacatecas, Mexico. 

The event occurred along the temporary north wall of the open pit, which included ore material expected to be mined as part of the ultimate open pit.

There were no injuries or equipment damage as a result of the material movement, which was detected early by the pit monitoring systems.

The event was caused by significant rain. There was no environmental damage resulting from the incident; however, rainwater diversion channels will need to be re-established to prevent further material subsidence in the pit.

While the main access throughout the pit was not affected, mining in the pit has been temporarily suspended.

Pit access has been restricted to the necessary technical and operating personnel to support the appropriate geotechnical assessments required for safe remediation and resumption of mining activities.

Crushing and stacking of stockpiled material onto the heap leach will continue in the interim. The Company is currently assessing any potential impact of the pit wall event on its full-year production guidance for Camino Rojo.

The relevant authorities are being notified as appropriate, and Orla is implementing appropriate remediation measures.

The safety of all personnel remains the Company’s top priority as it undertakes a comprehensive analysis to ensure the ongoing stability of mining operations. 

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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.

.

 



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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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.

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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 Repays Revolving Credit To Become Debt-Free

Orla Mining (TSX: OLA; NYSE: ORLA)

Announced that, subsequent to quarter end, the Company repaid the entirety of the outstanding balance on its revolving credit facility totalling $58.4 million.

 

 

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Orla Mining Camino Rojo plant

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

 

Orla Mining Repays Revolving Credit Facility to Achieve Debt-Free Status

 

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Vancouver, BC – October 15, 2024 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to announce that, subsequent to quarter end, the Company repaid the entirety of the outstanding balance on its revolving credit facility (the “Credit Facility”) totalling $58.4 million.

With this repayment, the Company is now debt free with cash on hand of approximately $120 million. The Credit Facility of $150.0 million will remain in place and be available to the Company until its expiry on August 28, 2027. (All amounts expressed are in millions of US dollars and are unaudited).

 

 

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Etienne Morin, Chief Financial Officer stated

 

“Paying down the remaining outstanding balance on our Credit Facility, only in our third year of operations, is a testament to the robust cash generation from our Camino Rojo Mine.

 

“Our continued financial discipline coupled with the increasing gold price has strengthened our financial position and accelerated this repayment.

 

“We are well-positioned to continue to invest in our growing business for the future. Thank you to our lenders for their continued support.” 

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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 Positive Production Update

Orla Mining (TSX: OLA; NYSE: ORLA)

Provided an operational update for the third quarter ended September 30, 2024, and provide an update to annual production guidance.

The Camino Rojo Oxide Mine produced 43,788 ounces and sold 38,265 ounces of gold during the third quarter 2024. 

 

 

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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
Stage Development
Metals Gold
Market cap C$2 billion   @ C$6.19
Location Zacatecas, Mexico + Nevada
Website www.orlamining.com

 

 

 

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Orla Mining Provides Q3 2024 Operational Results and Tracks Towards Record Production Year

Camino Rojo Delivers Record Quarterly Gold Production of 43,788 oz Leading to Increased Production Guidance

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Vancouver, BC – October 10, 2024 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to provide an operational update for the third quarter ended September 30, 2024, and provide an update to annual production guidance.

(All amounts expressed in millions of US dollars, as at September 30, 2024 and are unaudited)

Third Quarter 2024 Camino Rojo Oxide Mine Operational Update

The Camino Rojo Oxide Mine produced 43,788 ounces and sold 38,265 ounces of gold during the third quarter 2024.

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Production and cost guidance

As a result of the production outperformance year-to-date at Camino Rojo, the Company is increasing full year gold production guidance to 130,000 to 140,000 ounces.

The previous production guidance range, revised in August, was 120,000 to 130,000 ounces, while the initial annual guidance was 110,000 to 120,000 ounces.

The year-to-date outperformance is driven by improved recoveries from finer crushing, higher mined and processed grade, and higher tonnes stacked. The higher strip ratio in the quarter is a result of a mine pit redesign to ensure consistent access to ore to maintain balanced production.

In August 2024, full year all-in sustaining cost1 (“AISC”) guidance was improved to a range of $800 to $900 per ounce of gold sold. As a result of the higher production guidance, full year AISC is now expected to reach the low end of the guidance range.

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Liquidity Position

During the third quarter 2024, Orla repaid $20.0 million towards its revolving credit facility bringing the outstanding drawn amount to $58.4 million.

At September 30, 2024, Orla’s cash position was $180.9 million resulting in a net cash position of $122.5 million2. 

The Company has an undrawn amount of $91.6 million available on its revolving credit facility, which supports total liquidity of $272.5 million at quarter end3. Orla intends to further reduce the drawn amount on its revolving credit facility in the fourth quarter. The liquidity position at September 30, 2024, is shown below. Financial and operating results for the third quarter 2024 will be provided on November 12, 2024.

  Cash position – September 30, 2024 $180.9
  Long-term debt3 $58.4
  Net cash2 $122.5
  Undrawn debt available3 $91.6
  Total available liquidity2 $272.5

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Third Quarter 2024 Conference Call

Orla will host a conference call on Wednesday November 13, 2024, at 10:00 AM, Eastern Time, to provide a corporate update following the release of its financial and operating results for the third quarter 2024:

Dial-In Numbers / Webcast:

Canada – Toronto:                +1 (647) 932-3411

Canada – Toll-Free:              +1 (800) 715-9871

Conference ID:                       8182356

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

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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



Minera Alamos Operations Update and Q2 Financials

Minera Alamos (TSX V: MAI)

Provided an operations update and select financial highlights from the second quarter of 2024 as well as some guidance regarding improved operations activity so far during Q3.

 

 

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Minera Alamos project map

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Minera Alamos TSX.v : MAI
Stage Development
Metals Gold
Market cap C$113 m   @ 24.5c
Location Sonora, Zacatecas, Durango – Mexico
Website www.mineraalamos.com

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Comment

My greatest weakness in investing is hanging on too long, particularly if I like management, and I think the project is solid, and in a good jurisdiction.

I sold Minera some time ago after a comment by management that didn’t impress me, and the price has fallen considerably since then, so this is one stock I managed to call right.

Minera have a number of newsletter type followers who are all still hanging on to their buy recommendations, but I’m pleased I followed my gut feeling here. There’s no hiding the fact that these results are very disappointing.

If they begin to turn this around I may re-invest, but the news doesn’t attract me currently, and the situation regarding mining permits in Mexico remains tricky, and long winded.

One for the watchlist, nothing more at present, in my opinion.

 

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Minera Alamos Operations Update and Q2 Financials

August 30, 2024

Nicho Main Pit Startup Progressing Well

Toronto, Ontario – (Newsfile – August 30th, 2024)

Minera Alamos Inc. (the “Company” or “Minera Alamos”) (TSX VENTURE:MAI)is pleased to provide an operations update and select financial highlights from the second quarter of 2024 as well as some guidance regarding improved operations activity so far during Q3. For a full overview please refer to the Q2 Financial Statements and MD&A filed on Sedarplus.ca on August 29th, 2024.

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 Darren Koningen, CEO, Minera Alamos stated,

“The Company is very pleased with the progress being made since implementing the new operating plan for the Santana gold mine in June.

 

“Mining and stacking rates are now approaching levels last achieved in 2022 and as the lagging gold leaching recoveries naturally expand we are looking forward to a forecasted return to cash generation at Minera in Q4 of this year.

 

“We remain committed to the development of our next mine, Cerro de Oro, which continues to work its way through the permitting process and has been met by constructive dialogue with the relevant government agencies and local stakeholders.

 

“This month we also completed the final payments required for 100% ownership of Cerro de Oro, which on final calculations cost the Company less than US$6/oz based on the most recent resource estimates.”

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Q3 Operational Summary and Outlook

  • At the Santana gold mine where the new operations only began in June, mining rates continue to rise as the Nicho Main zone pit is opened up allowing full mining fleet utilization.  Waste production from the pit is currently slightly elevated although this is normal with the commencement of a new mining area. In August 2024, overall mine production was up over 20% from the previous month (July) and approaching levels last seen in late 2022.
  • As the new operating plan progresses, gold mining and stacking in Q3 should exceed what was mined in the entirety of 2023.
  • Gold shipments recommenced in Q3 following Q2 where the focus had shifted to the preparation of the heap leach pad for the pending increase in mining and stacking activities (necessitating removal of a significant portion of active leach solution drip lines).
  • As gold extraction from the new mineralization being placed on the leach pad naturally expands at Santana, the Company’s current forecasts project a return to net corporate cash generation in Q4 this year.
  • Through the end of August 2024 approximately 3400 oz of gold will have been placed on the Santana leach pad since the restart of mining activities in June.
  • The company continues to work on plans for the next two phases of pad expansion.
  • In July, a total of 7,200,000 5-year stock options (July 30th expiry) with an exercise price of $0.16 were exercised for total consideration of $1,152,000. The Company now has 18,200,000 options outstanding with strike prices of between $0.45 and $0.72..

.

.

 

Selected Financial Data:

The following selected financial data is summarized from the Company’s Interim Unaudited Financial Statements and related notes thereto (the “Financial Statements’) for the quarter ended June 30th, 2024, and the Management’s Discussion and Analysis (“MD&A”) for the quarter ended June 30th, 2024 (all numbers in Canadian dollars unless otherwise stated). A copy of the Financial Statements and MD&A is available on SEDAR+ at www.sedarplus.ca.

  • Operationally, revenues totalled $1,499,444 with cost of goods sold and depletion amounting to $1,329,811 for a mine operations income of $169,633. Unit costs for the quarter continued to be higher due to the fixed costs of operations being spread over fewer ounces which is expected to return to normal as operations are expanded over the coming quarters as outlined in February and April (2024) news releases.
  • Income from mine operations of $169,633 on sales of 505 ounces of gold for the quarter as compared to a loss of ($411,822) on sales of 1,071 ounces of gold in the corresponding quarter in 2023.
  • Net loss of ($7,035,249) which is inclusive of a non-cash unrealized foreign exchange loss of ($4,690,218) for the quarter or $(0.015)/share compared to net income of $2,730,220 in the corresponding quarter of 2023.  The net loss for the quarter includes a significant non-realized foreign exchange loss on the Company’s inter-company which is primarily due to the weakening of the Mexican pesos during the quarter as compared to the Canadian dollar.  The Company’s functional currency and presentation currency is the Canadian dollar and the functional currency for it’s Mexican subsidiaries is the Mexican Pesos.
  • Cash and Cash Equivalents of $8,608,289 compared to $11,844,502 as at March 31st, 2024. The drop in cash balance reflects a designed reduction of normal operating payables during the period ahead of the anticipated increase in operational activity in late Q2 and the remainder of the year as well as costs associated with implementing the new operations plan in May and June. In addition, with priority shifting to new stacking activity on the leach pad, gold that would otherwise have been produced and sold in part from Q2 would be reflected in sales in Q3.
  • Working capital as of June 30th, 2024 stood at $14,480,746 compared to $18,248,668 as at March 31st, 2023.
  • Both the Company’s cash position and overall working capital is expected to improve in Q4 as the operational plans implemented in late Q2 and Q3 bear fruit.

.

To read the full news release, please click HERE

.

.

The live gold price can be found 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  no shares in Minera Alamos.

.



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

 

 

.

Orla Mining

 

 

.

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.”

.

To read the full news release please click HERE

.

The live gold price can be found 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.

.

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 Reports First Quarter 2024 Results

Orla Mining (TSX: OLA)

Announced good results for the first quarter ended March 31, 2024.

Q1 gold production was 33,223 ounces and gold sold was 32,046 ounces, and AISC¹ were $909 per ounce of gold sold.

 

 

.

Orla Mining

 

 

.

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 First Quarter 2024 Results

 

Vancouver, BC – May 14, 2024 –Orla Mining Ltd.(TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) today announces the results for the first quarter ended March 31, 2024.

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

First Quarter 2024 Highlights

  • First quarter gold production was 33,223 ounces and gold sold was 32,046 ounces (pre-released).
  • All-in sustaining costs (“AISC”)¹ was $909 per ounce of gold sold during the first quarter 2024.
  • Adjusted earnings1 for the first quarter were $16.8 million or $0.05 per share.
  • Net income for the first quarter was $17.5 million or $0.06 per share.
  • Cash flow from operating activities before changes in non-cash working capital during the first quarter was $21.7 million.
  • Exploration and project expenditure was $8.6 million during the quarter, of which $3.9 million was capitalized and $4.7 million was expensed.
  • As at March 31, 2024, Orla’s cash balance was $118.1 million and net cash1 was $29.7 million.
  • Subsequent to quarter end, the Company made a $10.0 million re-payment towards its revolving credit facility reducing the outstanding balance drawn to $78.4 million.

.

.

.

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

“We continue to strive to be a gold mining company of choice that effectively finds, builds, and operates high quality gold mines.

“In keeping with these objectives, we started 2024 with continued strong gold production at Camino Rojo generating meaningful cash flow, we enhanced our landholdings in Nevada with the acquisition of Contact Gold, and our exploration program in Mexico is progressing as planned and returning exciting results.”

 

.

To read the full news release, please click HERE

.

The live Spot gold price can be found 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.

.

To read our full terms and conditions, please click HERE



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 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

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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 Beats Increased 2023 Production Guidance

Orla Mining (TSX: OLA)

Provided an interim operational update for Q4 ended December 31, 2023.

This news release also includes the Company’s 2024 annual guidance which contains the outlook for production, operating and capital costs, and exploration spending across the Company’s portfolio.

 

.

 

 

.

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

.

.

.

Orla Mining Beats Increased 2023 Production Guidance and Provides 2024 Production and Cost Guidance

The Company Repays Nearly $60 million in Debt in 2023

 

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Vancouver, BC – January 16, 2024 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to provide an interim operational update for the fourth quarter ended December 31, 2023.

This news release also includes the Company’s 2024 annual guidance which contains the outlook for production, operating and capital costs, and exploration spending across the Company’s portfolio.

(All amounts expressed in million U.S. dollars, unaudited as at December 31, 2023 unless otherwise stated)

.

Fourth Quarter 2023 Camino Rojo Oxide Mine Operational Update

The Camino Rojo Oxide Mine produced a record 34,484 ounces of gold during the fourth quarter and 121,877 ounces of gold for the full year 2023, exceeding the increased gold production guidance range of 110,000 to 120,000 ounces.

Gold sold was 31,300 ounces during the fourth quarter and 118,993 ounces for the full year.

——-

During the fourth quarter, Orla repaid $25.0 million towards its revolving credit facility reducing the balance outstanding under its credit facility to $88.4 million.

The Company also paid the final installment of $22.8 million to Fresnillo plc as part of the Layback Agreement. In 2023, the Company repaid $58.9 million towards its debt outstanding.

At December 31, 2023, Orla had a cash position of $96.6 million and total debt position of $88.4 million, resulting in a net cash position of $8.2 million1.

The Company has $61.7 million undrawn on its revolving credit facility which supports total liquidity of $158.3 million at year end1. Current unaudited liquidity position shown below. Financial and operating results for the fourth quarter and year end 2023 will be provided on March 19, 2024.

Liquidity Position

Cash position $96.6
Long-term debt2 $88.4
Net cash 1,2 $8.2
Undrawn debt available $61.7
Total available liquidity1 $158.2

1. Net cash and liquidity are non-GAAP measures. See the “Non-GAAP Measures” section of this news release for additional information.

2. Long-term debt and undrawn debt may not tie due to rounding

.

.

Production and Cost Outlook 2024

Gold production from the Camino Rojo Oxide Mine is expected to be 110,000 to 120,000 ounces in 2024.

The Company is planning to mine approximately 8.3 million tonnes of ore and 9.9 million tonnes of waste for a total of 18.2 million tonnes resulting in a strip ratio of 1.2. The increased strip ratio in 2024 is a result of increased waste mining planned for the east-west pit expansion following the receipt of applicable permits.

Camino Rojo’s 2024 total cash cost is expected to be in a range of $625 to $725 per ounce of gold sold, including royalties and net of changes in inventory, while sustaining capital expenditures are expected to total $18.0 million, of which $12.5 million is for the planned heap leach pad expansion (phase 2) which is scheduled for the first half of 2024 and $0.5 million is for capitalized exploration on the Camino Rojo oxide layback.

 All-in sustaining costs for 2024 is expected to be in the range of $875 to $975 per ounce of gold sold. The higher AISC guidance range in 2024 versus 2023 is predominantly a result of increased waste stripping at Camino Rojo (~$85/oz) and sustaining capital related to the heap leach pad expansion (~$110/oz).
The only exploration expenses that are expected to impact the Company’s AISC are capitalized exploration (sustaining) on the Camino Rojo layback area totalling $0.5 million. All other exploration is either capitalized as non-sustaining or expensed (regional exploration).

.

Orla focused on multiple exploration projects throughout 2023. Near the Camino Rojo Oxide Mine, a 6,500-metre drilling campaign defined additional oxide mineralization, targeting the layback and oxide extensions. The layback drilling validated historical drill results, confirming the continuity of oxide gold mineralization and extending into the Fresnillo property. Oxide extension drilling revealed significant mineralization with plans for 2024 follow-up.

.

Orla also executed a successful 34,000-metre drill program into the Camino Rojo Sulphides deposit, enhancing understanding of the Camino Rojo Sulphides and testing for sulphide mineralization extension below the limits of current resources. The south-oriented drill holes substantially improved understanding and strengthened the continuity of higher-grade mineralization, with the objective of upgrading existing resources and exploring for new sulphide mineralization beyond current resources.

.

At South Railroad in Nevada, Orla remains dedicated to evaluating the project upside potential, producing positive drill results that enhance the continuity of oxide gold mineralization over the southeast extension of the Pinion Deposit, and uncover high-grade oxide at Dark Star.

Drilling at the North Bullion deposit is aimed at enhancing the resource classification. The 2023 drill program tests across the South Railroad property contributed to an improvement of the geological understanding and led to the identification of new target areas.

Additional exploration details related to 2023 results and 2024 plans, including specific exploration programs, will be provided through separate press releases in the first quarter 2024.

.

.

Fourth Quarter 2023 Conference Call

Orla will host a conference call on Wednesday March 20, 2024, at 10:00 AM, Eastern Time, to provide a corporate update following the release of its financial and operating results for the fourth quarter 2023:

Dial-In Numbers / Webcast:

Conference ID:           5844017

Toll:                             1 (646) 960-0685

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

.

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

 



Minera Alamos Closes Cerro de Oro Funding Package

Minera Alamos (TSX.V: MAI)

Announced that it has executed the definitive documentation for the previously announced Cerro de Oro funding package associated with the planned construction of the Cerro de Oro gold mine that is currently anticipated to begin next year.

 

.

Minera Alamos

Minera Alamos three projects in Mexico

 

Minera Alamos Signs Definitive Documentation for Cerro De Oro Construction Financing Package of up to US$25 million and Completes Initial Drawdown

 

October 30, 2023
View PDF

Toronto, Ontario – (Newsfile – October 30th, 2023) Minera Alamos Inc. (the “Company” or “Minera Alamos”) (TSX.V: MAI) is pleased to announce that it has executed the definitive documentation (the “Cerro de Oro Financing Documents”) for the previously announced Cerro de Oro funding package associated with the planned construction of the Cerro de Oro gold mine that is currently anticipated to begin next year.

The Company entered into the Cerro de Oro Financing Documents with Auramet International Inc. (“Auramet”) and Auramet Capital Partners LP (“Auramet Capital”) which is comprised of a loan facility for up to US$15 million and a US$10 million royalty (see news release dated May 31, 2023, for a more detailed summary of the terms).

Upon execution of the Cerro de Oro Financing Documents, the Company also completed a drawdown of an initial US$5 million under the loan facility (the “Interim Amount”) to advance certain pre-construction work related to the Cerro de Oro project.

.

Doug Ramshaw, President, Minera Alamos Stated 

“We are delighted to have executed these financing documents with Auramet, which provides a fully funded and single source solution to the modest capital expenditure requirements of the planned gold mine at Cerro de Oro.

 

“Our team has had an excellent working relationship with Auramet in recent years in regard to gold sales from prior operations as well as our Santana gold mine.

 

“This has provided us great insight into how supportive a partner Auramet can be, and we are happy to have executed a funding facility which will allow us to grow the relationship with the Auramet team.”

 

.

According to the funding facility, the Company may deliver a drawdown notice to Auramet for the remaining US$10 million under the loan facility (the “Remaining Amount”) upon the satisfactory completion of certain conditions, including, among other things, (i) the final earn-in commitments of the Cerro de Oro project and property; and (ii) receipt of permits required for construction of the Cerro de Oro project.

In the event that the Company does not meet the above closing conditions or should it elect not to deliver a drawdown notice for the Remaining Amount by the earlier to occur of (i) October 27, 2024; and (ii) the date that is 31 days after all closing conditions have been satisfied, the outstanding balance of the Interim Amount (including all interest accrued thereon) shall mature and be payable in equal instalments over the subsequent 10 month period and all obligations of Auramet to advance any part of the Remaining Amount will immediately be canceled and terminated.

Closing and funding of the US$10 million under the royalty facility is conditional upon meeting the same conditions as are required to draw down on the remaining loan facility and is also conditional upon the actual drawdown of the remaining amount under the loan facility and to the extent this does not occur, any obligations under the royalty facility will also terminate.

.

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 Minera Alamos.

.



Orla Mining Amends Credit Facility

Orla Mining (TSX: OLA)

Announced that the Company has amended its existing US$150 million credit facility  with its existing syndicate of lenders comprised of The Bank of Nova Scotia, Bank of Montreal, and Canadian Imperial Bank of Commerce.

 

 

.

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$1.85 billion   @ C$6.24
Location Zacatecas, Mexico + Nevada + Panama

 

.

.

Orla Mining Amends Credit Facility, Strengthens Financial Flexibility and Lowers Cost of Capital

 

 

.

Vancouver, BC – August 29, 2023 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to announce that the Company has amended its existing US$150 million credit facility (the “Amended Credit Facility”) with its existing syndicate of lenders comprised of The Bank of Nova Scotia, Bank of Montreal, and Canadian Imperial Bank of Commerce.

The Amended Credit Facility consists of a US$150 million revolving term facility.

Amended Credit Facility Highlights:

• Facility size: US$150 million revolving facility, with the ability to increase the facility to US$200 million, subject to receipt of additional binding commitments and satisfaction of certain conditions precedent.

The Amended Credit Facility replaces the Company’s existing facility, which consisted of
a US$100 million term facility expiring in April 2027 and US$50 million revolving facility expiring in April 2025.
• Term: 4-year term, extending the term on the Company’s existing revolving facility by two years. Full repayment of the facility is due upon maturity (August 28, 2027).
• Interest rates: The interest rate for the Amended Credit Facility will be based on the term SOFR rate, plus an applicable margin ranging from 2.50% to 3.75% based on the Company’s leverage ratio at the end of each fiscal quarter. This represents a 25 basis point decrease to the lower end of the range compared to the Company’s previous facility.

The standby fee for the undrawn portion of the facility has also been lowered from 25% to 22.5% of the applicable margin.

 

.

Etienne Morin, Chief Financial Officer of Orla Mining stated,

“This refinancing provides Orla with additional flexibility to lower its cost of capital while maintaining liquidity.

 

“We would like to thank our syndicate of lenders who have continued to support Orla and have provided us with additional resources and flexibility to execute on our long-term strategy.”

 

.

The Amended Credit Facility is payable in full at maturity and removes quarterly mandatory repayments required under the previous term facility.

The Company has drawn US$113.4 million under the Amended Credit Facility with an applicable margin of 2.50% based on its leverage ratio at closing.

.

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



Minera Alamos Operations Update and Q2 Financials

Minera Alamos (TSX.V: MAI)

Provided an operations update and select financial highlights from the second quarter of 2023 as well as some guidance regarding improved operations activity so far during Q3.

Since June mining and stacking operations have been increasing steadily. 

 

.

Minera Alamos

Minera Alamos three projects in Mexico

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.

.

Minera Alamos TSX.v : MAI
Stage Development
Metals Gold
Market cap C$174 m   @ 34c
Location Sonora, Zacatecas, Durango – Mexico

 

 

.

Minera Alamos Provided an Operations Update and Q2 Financials

 

 

.

Toronto, Ontario – (Newsfile – August 30th, 2023)

Minera Alamos Inc. (the “Company” or “Minera Alamos”) (TSX VENTURE:MAI) is pleased to provide an operations update and select financial highlights from the second quarter of 2023 as well as some guidance regarding improved operations activity so far during Q3. For a full overview please refer to the Q2 Financial Statements and MD&A filed on Sedarplus.ca on August 29th, 2023.

 

.

Darren Koningen, CEO, Minera Alamos stated,

“As outlined earlier in 2023, the first half of the year at the Santana project saw a focus on development and infrastructure activities scheduled in advance of a planned improvement in mining operations in the second half of 2023.

 

“Since June mining and stacking operations have been increasing steadily as our mine contractor scaled up equipment and staffing levels at site.

 

“A prudent overall approach to mining operations has been implemented in recent quarters as the Company worked its way through the end of a difficult 3-year regional drought that significantly inhibited our ability to be more aggressive with production rates.

 

“We are pleased to report that more typical weather patterns appear to have re-emerged in 2023.

“The Company is currently preparing for new pad construction late in the year following the end of the current rainy season which is expected to coincide with the receipt of permit amendments allowing us to facilitate a significant expansion of both mining and gold stacking operations and lead to a much more stable production outlook next year and onwards.”

 

.

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 Minera Alamos

..

To read our full terms and conditions, please click HERE

 

 

 



Silver Tiger Intersects 3.3 m Of 1,153 g/t Silver Eq

Silver Tiger Metals  (TSX.V:SLVR)

Has intersected 1,153.6 g/t total silver equivalent over 3.3 meters in the Sulphide Zone in Drill Hole ET-23-462.

These high-grade intercepts have tripled the known strike length of the Sulphide Zone, bringing the originally indicated 250 meters of strike extent to more than 750 meters.

 

 

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Silver Tiger El Tigre Panormaic view

 

 

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Silver Tiger Metals TSX.V: SLVR
Stage Exploration
Metals Silver, gold
Market cap C$67 million @ 20c
Location Sonora, Mexico

 

 

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SILVER TIGER INTERSECTS 3.3 METERS OF 1,153.6 g/t SILVER EQUIVALENT
WITHIN 10.5 METERS OF 443.9 g/t SILVER EQUIVALENT AT THE
SOUTHERN END OF THE SULPHIDE ZONE

.

 

HALIFAX, NOVA SCOTIA – August 15, 2023 – Silver Tiger Metals Inc. (TSXV:SLVR and
OTCQX:SLVTF) (“Silver Tiger” or the “Corporation”) has intersected 1,153.6 g/t total silver equivalent over 3.3 meters in the Sulphide Zone in Drill Hole ET-23-462 from 520.5 meters to 523.8 meters, consisting of 378.7 g/t silver, 6.17 g/t gold, 0.31% copper, 3.10% lead and 6.31% zinc within 10.5 meters grading 443.9 g/t total silver equivalent from 513.3 meters to 523.8 meters consisting of 1.51.5 g/t silver, 1.98 g/t gold, 0.14% copper, 1.39% lead and 2.95% zinc in the Sulphide Zone.

These high-grade intercepts have tripled the known strike length of the Sulphide Zone, bringing the originally indicated 250 meters of strike extent to more than 750 meters.

 

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SCP Research Analyst Brock Salier said,

“We see potential for narrow high-grade vein mining from the Sulphide zone, which now extends over 750m along strike and ~150-200m down-dip at an average grade of 473g/t Ag Eq to date, and with amenable geometry.

 

“Being conservative, even if true width is only 2-5m (today’s hits are wider but are parallel to the structure), the Sulphide zone could host 10-25Moz AgEq and is still open.

Today we maintain our BUY rating and our C$1.00/sh PT based on US$1.50/oz AgEq on the existing resource, and same again for a nominal 85Moz.”

.

.

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 Silver Tiger

..

To read our full terms and conditions, please click HERE



Orla Mining Reports Q2 2023 Results

Orla Mining (TSX: OLA)

Announced the results for the second quarter ended June 30, 2023.

Highlights were gold production was 29,058 ounces and gold sold was 29,773 ounces.

 

.

 

.

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

.

.

Orla Mining Reports Second Quarter 2023 Results

 

Revised 2023 All-In Sustaining Cost Guidance to $700-$800 per ounce

Vancouver, BC – August 3, 2023 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) today announces the results for the second quarter ended June 30, 2023.

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

Second Quarter 2023 Highlights:

  • Gold production was 29,058 ounces and gold sold was 29,773 ounces (pre-released, July 12, 2023). Year to date gold production is 54,968 ounces. The Company remains on track to meet 2023 annual gold production guidance of 100,000 to 110,000 ounces.
  • All-in sustaining costs (“AISC”)1 of $698 per ounce of gold sold during the second quarter 2023. Year to date AISC is $696 per ounce of gold. AISC guidance for the full year 2023 has been reduced to a range of $700 to $800 per ounce of gold sold from the original guidance of $750 to $850 per ounce.
  • Adjusted earnings1 for the second quarter was $14.0 million or $0.05 per share.
  • Net income for the second quarter was $12.8 million or $0.04 per share which included $7.2 million in expensed exploration and development costs.
  • Cash flow from operating activities before changes in non-cash working capital during the second quarter was $22.4.
  • At June 30, 2023, the Company had a cash balance of $114.5 million, an increase of $30.7 million during the quarter, and a net debt1 balance of $20.4 million.
  • Advancement of exploration activities across the portfolio which continued to generate strong results, most notably at Camino Rojo where significant results have been returned from infill drilling of the Sulphides mineral resource, on extension of the Sulphides mineralization, and in the regional exploration program where the first visible gold outside of the Camino Rojo deposit was encountered.
  • During the quarter, Agnico Eagle partially exercised its top-up right for proceeds of C$25 million.

 

.

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

“Orla endeavours to be a predictable and consistent gold producer and cash generator. Camino Rojo’s operational performance supports these objectives and we are on target to deliver on our 2023 plan.

 

“Our exploration efforts also continue to generate positive returns and we remain committed to a systematic approach to unlocking value.”

 

.

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.

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Disclosure

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

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Silver Tiger Intersects 2.7 M of 1,268.6 g/t Ag Eq

Silver Tiger Metals (TSX.V:SLVR)

Has intersected 1,268.6 g/t total silver equivalent over 2.7 meters in the Sulphide Zone in Drill Hole ET-23-463 from 466.1 meters to 468.8 meters.

 

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Silver Tiger El Tigre Panormaic view

 

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Silver Tiger Metals TSX.V: SLVR
Stage Exploration
Metals Silver, gold
Market cap C$67 million @ 20c
Location Sonora, Mexico

 

 

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SILVER TIGER INTERSECTS 2.7 METERS OF 1,268.6 g/t SILVER EQUIVALENT
WITHIN 9.9 METERS OF 711.2 g/t SILVER EQUIVALENT AT THE SOUTHERN END OF THE SULPHIDE ZONE

 

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HALIFAX, NOVA SCOTIA – July 25, 2023 – Silver Tiger Metals Inc. (TSXV:SLVR and
OTCQX:SLVTF) (“Silver Tiger” or the “Corporation”) has intersected 1,268.6 g/t total silver equivalent over 2.7 meters in the Sulphide Zone in Drill Hole ET-23-463 from 466.1 meters to 468.8 meters, consisting of 1,089.2 g/t silver, 0.14 g/t gold, 1.01% copper, 0.96% lead and 1.47% zinc within 9.9 meters grading 711.2 g/t total silver equivalent from 461.0 meters to 470.9 meters consisting of 609.7 g/t silver,
0.13 g/t gold, 0.61% copper, 0.41% lead and 0.70% zinc in the Sulphide Zone.

 

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Highlights from the drilling program include the following:

● Hole ET-23-464: 6.7 meters grading 495.9 g/t total silver equivalent from 541.5 meters to 548.2 meters, consisting of 43.1 g/t silver, 0.33 g/t gold, 0.03% copper, 1.72% lead and 11.61% zinc within 13.9 meters grading 280.5 g/t total silver equivalent from 538.0 meters to 551.9 meters consisting of 27.4 g/t silver, 0.23 g/t gold, 0.02% copper, 1.16% lead and 6.22% zinc in the Sulphide Zone.

 

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Silver Tiger’s CEO, Glenn Jessome, stated,

“This drilling indicates that the Sulphide Zone continues to extend along strike with an increase of 50 meters to the south.

 

“The high-grade Sulphide Zone now has a total strike length of over 250 meters and is open in all directions. Further drilling to the north and south of the Sulphide Zone should continue to expand this area of known mineralization.”

 

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For brevity, this summary has been redacted, 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

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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 Silver Tiger MEtals

..

To read our full terms and conditions, please click HERE