Orla Mining  (TSX: OLA; NYSE: ORLA)

Announced the start of the 2025 exploration drilling program at the Company’s recently acquired Musselwhite Mine in Northwestern Ontario.

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Orla Mining (TSX: OLA; NYSE: ORLA)

Announced that the Company has completed its acquisition of the Musselwhite Gold Mine in Ontario, Canada from Newmont Corporation.

The addition of Musselwhite transforms Orla into a North American-centred, geographically diversified intermediate gold producer.

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Orla Mining – Musselwhite Gold Mine.

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Orla Mining Completes the Musselwhite Acquisition

Vancouver, BC – March 3, 2025 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to announce that the Company has completed its acquisition (the “Transaction”) of the Musselwhite Gold Mine (“Musselwhite”) in Ontario, Canada from Newmont Corporation (“Newmont”).

(All amounts in this press release are in US dollars unless otherwise indicated).

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 Jason Simpson, President and CEO, Orla Mining commented;

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The live gold price can be found HERE

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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Mining Review January 2025

City Investors Circle Mining Review for January 2025 has been published.

The highlighted company is Catalyst Metals.

Companies reporting good news included Calibre Mining, Orla Mining, Gold Road Resources and Ora Banda mIning.

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City Investors Circle Mining Review January 2025

City Investors Circle Mining Review for January 2025 has been published.

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The highlighted company is Catalyst Metals.

Companies reporting good news included Calibre Mining, Orla Mining, Gold Road Resources and Ora Banda mIning.

The review also lists the most significant news from our watchlist companies during January.

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To read the January 2025 Mining Review, please click HERE

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The review highlights the increasing price of Antimony due to Chinese and Russian domination of the market.

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Links to all our news reports from January 2025 are below, click the link to be taken to the full story.

  Awalé Hits 2.5 g/t Gold Eq. over 34m at the BBM Zone

  Calibre Pours its One-Millionth Ounce of Gold in Nicaragua

  West Red Lake Gold Has New Targets from Surface Sampling

  Gold Road Announces Strong Outlook and Guidance for Gruyere in 2025

  G Mining Ventures Outlines Outlook for 2025

  Ora Banda Mining December Activities Report

  Mining Review 26th January 2025

  Wesdome Gold Provides Eagle River Exploration Update

  Capricorn Announce the Acquisition of Deadman Flat Project

  Westgold Production lifts again in Q2, FY25

  Calidus Resources Delisted From the ASX

  West Red Lake Gold Intersects 45.70 g/t Au over 3.85m

  Lefroy and BML Ventures to Advance the Lucky Strike Gold Deposit

  Gold Road Announce Positive Gilmour PFS

  Mining Review 19th January 2025

  American Creek’s JV Partner Tudor Gold Intensifies Exploration Efforts

  Orla Mining Achieves Record Annual Gold Production

  Meeka Metals Announce High-Grade Gold at Turnberry

  Meeka Metals – Initiating Coverage

  Orla’s Proxy Advises Shareholders to Vote for the Musselwhite Acquisition

   Westgold Group Production Lifts in Q2 FY25

  Mining Review 12th January 2025

  Calibre Delivers Record Q4 Gold Production of 76,269 Ounces

  Faraday Copper Intersects 40.06 m at 0.78% Copper

  West Red Lake Gold Announces Positive Pre-Feasibility Study for Madsen

  G Mining Ventures Receives Vital Permit for Oko West

  G2 Goldfields Announces Filing of Reports for Proposed Spin-Out

  Gold Road Announces Record Production in December

  Mining Review 5th January 2025

  Perpetua Receives the Final Permit for Stribnite

  American Creek Resources Announces Amendment to Plan of Arrangement

  Market Review for December 2024 published

Live metal prices can be found HERE

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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Mining Review 19th January 2025

Orla Mining announced results that beat the improved guidance for the year by 19%.

Westgold is set to increase production in Q1. Meeka Metals announced a high-grade gold dicovery at Turnberry, Murchison.

Archives

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

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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..

Orla Mining (TSX: OLA; NYSE: ORLA)

Announced that the two leading independent proxy advisory firms have each recommended that Orla’s shareholders vote FOR the resolution to approve the Company’s proposed acquisition of the Musselwhite Minefrom Newmont Corporation.

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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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Mining Review 24th November 2024

The Swiss Mining Institute Conference in Zurich was a lively affair, with a good number of investors participating.

Orla Mining’s purchase of the Musselwhite operating mine was the big news of the week.

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Swiss Mining Institute Conference, Zurich

Mining Review 24th November 2024

The Swiss Mining Institute Conference in Zurich was a lively affair, with a good number of investors participating.

As one would expect with an event organised in Switzerland, everything from the initial registration through to the dinner on the final evening went smoothly. Swiss Mining Institute run a good show, Sarah at registration keeps tabs on everything, and ensures meetings take place by chasing around to find companies not located on their booths.

I really enjoy this conference, the booths are arranged in alphabetical order which makes navigation between meetings easy. The location is the wonderful Dolder Grand Hotel, at the top of the mountain overlooking the city of Zurich.

My route there is via tram and then the Dolderbahn rack railway which runs up the side of the mountain to the hotel at the top.

The only downside was the weather, where a heavy snowfall resulted in the closure of the airport in the evening and my return flight being cancelled on Friday, necessitating a stop-over until Saturday morning.

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Mining Review

Orla Mining’s purchase of the Musselwhite operating mine in Canada was the big news of the week. This was unexpected, an announcement out of the blue, that Orla had purchased this operating gold mine in Canada for around $850 million from Newmont.

I do wonder if they are having delays at their South Railroad project so made this purchase to maintain their growth strategy until South Railroad permits are received?

Either way this should double their production and if gold moves higher will look like an opportune deal. They will look to increase the resource with further exploration.

Calibre Mining, who I met at the conference, announced another discovery in Nicaragua, that should lead to an increase in resources in the near term. Valentine construction is nearly complete and should commence initial production in H2 2025.

Calibre look to be on track, the next challenge is to see if they bring Valentine online on time and budget.

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A list of news from our watchlist companies is below, please click the link to be take to the full story.

 Swiss Mining Institute Conference Day 2

  Swiss Mining Institute Conference Day 1

  G Mining Ventures Reported Q3 2024 Production and Financial Results

  Calibre Mining Announce a  Significant High-Grade Mineralization at Limon

  Orla Mining Expands into Canada with Musselwhite Acquisition

  Westgold’s Bluebird – South Junction MRE Grows to 1.4Moz

  Mining Review 17th November 2024

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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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Orla Mining (TSX: OLA; NYSE: ORLA)

Announced it has entered into a definitive agreement to acquire the Musselwhite Gold Mine in Ontario from Newmont Corporation for upfront cash consideration of $810 million and gold-price linked contingent consideration of $40 million.

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More than Doubles Orla’s Annual Gold Production to Over 300 koz with Near-Term Growth to 500 koz; Orla to Become a Premier, North America-Focused, Multi-Asset, Low Cost, Producing Gold Company.

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Vancouver, BC – November 18, 2024 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to announce it has entered into a definitive agreement (the “Agreement”) to acquire the Musselwhite Gold Mine (“Musselwhite”) in Ontario from Newmont Corporation (“Newmont”) for upfront cash consideration of $810 million and gold-price linked contingent consideration of $40 million (the “Transaction”)¹

The cash consideration will be financed through a combination of cash, existing undrawn debt capacity, new indebtedness, a gold pre-pay facility, and convertible notes led by Orla’s existing cornerstone investors. There is no upfront equity dilution associated with the Transaction.

The Transaction adds a second high quality, high margin producing asset to Orla’s portfolio. The combination of the proven Musselwhite mine and Orla’s low-cost Camino Rojo oxide operation more than doubles the Company’s annual gold production to over 300 koz, with expected near-term growth to over 500 koz of annual gold production as the South Railroad Project is expected to commence production in 2027.

The Transaction will also significantly enhance the free cash flow of the Company, providing additional cash for the execution of Orla’s organic growth plans.

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Transaction Highlights:

• Strategic acquisition of a proven Canadian operating gold mine with a skilled underground workforce located in a tier-one mining jurisdiction.
• Transforms Orla from a single asset producer to a multi asset intermediate producer.
• Immediately more than doubles gold production with a clear path to 500 koz of annual gold production.
• Musselwhite has robust reserves and resources as well as significant exploration potential.
• Well suited to the technical capabilities of Orla’s executive and operating teams.
• Transaction funded through a mix of debt facilities, with significant support from cornerstone shareholders and no upfront equity dilution.
• Materially accretive on all key operating and financial per-share metrics benefiting all existing shareholders.
• Builds on Orla’s established track record of development and operating success and is aligned with Orla’s strategy for growth and value creation.

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Musselwhite Overview:

• Musselwhite is a producing, underground gold mine located on the shore of Opapimiskan Lake in Northwestern Ontario. It has been in operation for over 25 years, having produced close to 6 million ounces of gold to date, with a long history of resource growth and conversion.
• At December 31, 2023, proven and probable gold reserves contained 1.5 million ounces (7.4 million tonnes at grade of 6.23 g/t Au) within a measured and indicated resource² of 1.8 million ounces (9.52 million tonnes at 5.78 g/t Au) and an inferred resource of 0.19 million ounces (1.2 million tonnes at 4.96 g/t Au).
• Orla commissioned an independent NI 43-101 technical report for Musselwhite in connection with the Transaction. Based only on the current reserves, Musselwhite has a seven year mine life (2024-2030) with average annual gold production of 202 koz at $1,269/oz all-in sustaining cost (“AISC”)³
• The NPV5% at January 1, 2025, of Musselwhite is estimated at $760 million using a flat $2,150 gold price and increases to approximately $1 billion using a flat $2,500 flat gold price. Significant opportunities exist to optimize the operation and extend mine life though known extensions of the ore body.
• The Company intends to aggressively explore the 65,000-hectare concession, including following up on historical drilling that suggests 2 to 3 kilometers of mineralized strike potential beyond the current reserves.
• Additionally, the CIP processing facility has a nameplate capacity of 1.5 Mtpa with only 1.0 Mtpa currently being utilized, which allows Orla the opportunity to fill excess mill capacity through new discoveries and increased mining rates.

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Jason Simpson, President & Chief Executive Officer of Orla stated,

“This acquisition is a significant milestone for Orla Mining. It more than doubles our annual production, while providing us with a presence in Ontario, Canada, one of the premier mining jurisdictions in the world and where I began my career.

“We intend to not only continue to operate Musselwhite, but to seek optimization opportunities and to invest in its future, grow its reserves and resources, and extend its mine life. The mine has a proven history of successful production, cash generation, and reserve replacement, having consistently added to mine life.

“We have been impressed with the operating team at Musselwhite, which runs an exceptional mine and has developed positive and strong ties with First Nations, local partners, and community members. We are fully committed to respecting and growing these relationships.

“Thanks to our shareholders, notably Pierre Lassonde and Prem Watsa of Fairfax, and our banking and financial partners, for their continued support as we strive to elevate Orla into an even stronger and more robust mining company.

“We are also grateful to Newmont for their trust in our vision and commitment to sustainability. We intend to be responsible stewards of Musselwhite, creating a legacy of excellence, respect, and value for all stakeholders.”  

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The live gold price can be found HERE

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.

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Mining Review 20th October 2024

A week of highs and lows, with Orla Mining and Westgold announcing positive production updates, and Calibre Mining and West Red Lake Gold issuing disappointing news to dampen the mood in a week where gold reached a new all-time high price of $2,720.

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City Investors Circle Mining Review 20th October 2024

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A week of highs and lows, with Orla Mining and Westgold announcing positive production updates, and Calibre Mining and West Red Lake Gold issuing disappointing news to dampen the mood in a week where gold reached a new all-time high price of $2,722, due to political turmoil and US rate cut expectations.

Industrial metals trended downward in a week where the precious metals rose.

The gold / silver ratio fell to 80 as silver is currently outperforming gold due to its industrial applications.

Looking at our watchlist companies, there were mixed news releases. 

Orla Mining and Westgold had three positive news releases beteen them to start the week, and then just as the higher gold price was maintaining an optimistic mood, Calibre Mining released poor production figures, and then West Red Lake Gold Mines announced another discounted fundraising, crashing the shareprice.

News from all our main watchlist companies is below, click the lin to be taken to the full story.

  West Red Lake Gold Mines Raised Further Funds

  Calibre Announces Q3 & Year to Date 2024 Gold Production

  Cartier cuts a high-grade gold system with 14.7 g/t Au over 4.3 m

  Orla Mining Repays Revolving Credit To Become Debt-Free

  Westgold Announced Record Prodution Post Merger

  Orla Mining Announced a Positive Production Update

  Mining Review 13th October 2024

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

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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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The live gold price can be found HERE

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.

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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 – Zacatecas State, Mexico

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Mining Review 18th August 2024

Gold hit a new nominal all-time high this week, breaching $2,500.

Calibre Mining and Orla Mining published good results, and Victoria Gold, as predicted here, went into receivership and the stock will be delisted. 

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City Investors Circle Mining Review 18th August 2024

Gold hit a new nominal all-time high this week, breaching $2,500.

Calibre Mining and Orla Mining published good results,.

Victoria Gold, as predicted here, went into receivership and the stock will be delisted. The company has gone from one disaster to another, and now a shareholder is suing the company and some directors, which looks as though it will get messy.

Management are now blaming their lawyers for instructing them to keep quiet and not issue news releases. Well they employ the lawyers so they should have overridden that advice and informed the Yukon authorities what steps they were taking, and shareholders as well, of course.

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News from our watchlist companies last week is listed below, please click on the links to read the full story.

 Archives

Click here for all company news archives

Market Data

Weekly % Price Changes

(US$| unless stated)

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

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Robust Margin Expansion Driving Record Free Cash Flow

Orla Mining (TSX: OLA / NYSE: ORLA)

Announced that, further to its April 10, 2024, news release, the Company has filed a Request for Arbitration against the Government of Panama under the Canada-Panama Free Trade Agreement.

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Orla Mining Cerro Quema project panoramic view

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Vancouver, BC – July 3, 2024 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) announces that, further to its April 10, 2024, news release, the Company has filed a Request for Arbitration against the Government of Panama under the Canada-Panama Free Trade Agreement (the “FTA”). 

The Request for Arbitration asserts that measures taken by Panama in respect of the Cerro Quema Project constitute violations of Panama’s legal obligations under the FTA and customary international law.

A Notice of Intent to Arbitrate was filed with the Government of Panama under the FTA on March 28, 2024, which was intended to facilitate a 30-day consultation period to reach an amicable resolution to the Company’s claim. As no resolution was reached, the Company has proceeded with filing the Request to Arbitrate.

The arbitration will be facilitated and administered by the International Centre for Settlement of Investment Disputes (ICSID) in Washington, DC, under its Arbitration Rules. As part of the FTA requirements, the Company has submitted an initial and preliminary estimate of damages claimed of no less than US$400 million, plus pre-award and post-award interest.

Although the Company intends to vigorously pursue these legal remedies, the Company’s preference is a constructive resolution with the Government of Panama that results in a positive outcome for all stakeholders.

The Cerro Quema Project is located on the Azuero Peninsula in the Los Santos Province of Southwestern Panama, about 45 km southwest of the city of Chitre. The project includes a pre-feasibility-stage, open-pit, heap leach gold project, a copper-gold sulphide resource, and various exploration targets.

The Company believes that the Cerro Quema Project could be an important social and economic contributor to Panama, creating employment and skills development opportunities and contributing tax, royalty, and other fiscal benefits to the host communities and governments. The Company also maintains a strong commitment to operating in an environmentally responsible manner.

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

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.To read the full news release, please click HERE

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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 (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.

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

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Sylvain Guerard, Orla’s Senior Vice President, Exploration

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.

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To read the full news release, please click HERE

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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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Mining Review 14th April 2024

It was another exciting week for gold, with new all time highs being recorded, before a slight pullback late Friday evening.

The big news of the week was Karora Resources announcing a merger with ASX listed Westgold. Capricorn Metals and Orla Mining reported strong starts to 2024.

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Capricorn Metals Karlawinda Mine

City Investors Circle Mining Review 14th April 2024

It was another exciting week for gold, with new all time highs being recorded, before a slight pullback late Friday evening. Gold had topped out at $2431 at it’s high before the retrace.

Silver slipped back to just under $28 per ounce, after earlier being close to $30 intraday.

On the industrial side, copper had a quiet week after the recent charge, but nickel soared nearly 5%, after the recent long fall, and is now trading at $8.19, well above the recent $7.40 low.

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The big news of the week, and one that disappointed me a great deal, was Karora Resources announcing a merger with ASX listed Westgold.

I thought Karora would grow by acquisition, being in a strong financial position, and mining in Western Australia, where there are an abundance of opportunities to grow. So, I’m personally very disappointed they have taken this route, and I have sold over half my holding already, there are many other producers worth investing in at the moment, so I want to put my money to work somewhere positive.

Karora are offering the incentive of shares in a newco, but in my personal experience they don’t work out well, so I’m not allowing the offer of free shares to distract me from selling a stock that has hit the buffers for now, and putting the funds to work elsewhere.

Capricorn Metals and Orla Mining reported strong starts to 2024. These are well run companies growing by acquisition, and very successfully too. This is why I invested in Karora, as I expected them to follow this model.

I increased my holdings in both these companies this week, using some of the Karora funds.

Exploration companies are off my radar currently as the action is with the producers with the gold price spiking, but I did add a few Pacgold to my existing holding, to bring down my average cost. They seem to have a district scale project, so one I’m happy to buy and put in the bottom drawer whilst they continue to explore the Alice River region.

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Significant news from our watchlist companies this week is listed below, click the links to be taken to the full story.

  Orla Mining Started 2024 with Strong Operating Performance

  G Mining Ventures Provided a Tocantinzinho Project Update

  Calibre Mining’s Q1 Gold Production On Track To Deliver FY 2024 Guidance

  Karora Resurces Announced a Merger With Westgold

  Karora Resources Q1 Results Hampered by Wet Weather

  Capricorn’s Karlawinda Mine Delivers Strong Cashflow

  Mining Review 7th April 2024

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Market data

Weekly Price Changes

(US$ unless stated)

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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.

.

.

Orla Mining (TSX: OLA; NYSE: ORLA)

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

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

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Orla Mining Starts 2024 with Strong Operating Performance at Camino Rojo

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

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First Quarter 2024 Camino Rojo Oxide Mine Operational Update

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

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Orla Mining (TSX: OLA)

Provided an update on its exploration at the South Railroad Project including 2023 activities and 2024 work plans. This news release presents the second update.

The highlight was 51.8m @ 3.24 g/t Au (Sulphide).

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To read the full news release please click HERE

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Live spot metal prices can be found HERE

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To read our full terms and conditions, please click HERE