Orla Mining Achieves Record Quarterly Production

Orla Mining (TSX: OLA; NYSE: ORLA)

Provided an operational update for the second quarter ended June 30, 2025. The company reported a record quarterly production including a first contribution from Musselwhite.

Orla remains on track to achieve annual consolidated production guidance of 280,000 to 300,000 ounces of gold.

 

 

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Orla Mining

Orla Mining – Musselwhite Gold Mine – Credits Orla Mining

 

 

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Orla Mining TSX : OLA
Stage Development
Metals Gold
Market cap C$4.75 billion   @ C$14.60
Location Mexico + Nevada + Canada 
Website www.orlamining.com

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

Vancouver, BC – July 10, 2025 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to provide an operational update for the second quarter ended June 30, 2025. Orla remains on track to achieve annual consolidated production guidance of 280,000 to 300,000 ounces of gold following the quarter.

(All amounts expressed in millions of US dollars, as at June 30, 2025 and are unaudited)

 

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Second Quarter Operational Update

Total Gold Production & Sales Q2 2025 YTD Q2 2025
Camino Rojo oz 25,145  55,118
Musselwhite oz 52,666  70,4521
Total Gold Produced oz 77,811  125,570
Total Gold Sold oz 78,911 125,267
       
Camino Rojo, Mexico   Q2 2025 YTD Q2 2025
  Ore Stacked tonnes 2,608,589  4,281,415
  Stacked Ore Gold Grade g/t 0.57  0.66
  Gold Produced oz 25,145  55,118¹
  Gold Sold oz 26,591 57,103
   
Musselwhite, Canada Q2 2025 YTD Q2 202
Ore Milled tonnes 294,568  398,855
Milled Ore Gold Head Grade g/t 5.52  5.52
Gold Produced oz 52,666  70,452
Gold Sold oz 52,318  68,163

 

 

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Camino Rojo Operations

During the quarter, Camino Rojo mined nearly 2.0 million tonnes of ore and 2.6 million tonnes of waste, for an implied strip ratio of 1.33. A total of 1.7 million tonnes of ore were stacked at an average grade of 0.71 g/t gold equating to an average daily stacking rate of about 18.5 thousand tonnes.

In addition, 0.9 million tonnes of low-grade ore were rehandled and placed on the leach pad, averaging 0.32 g/t gold. In total, 2.6 million tonnes of ore at an average grade of 0.57 g/t gold were placed on the heap leach pad during the quarter. 

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Musselwhite Operations

During the quarter, Musselwhite mined 303,000 tonnes of ore and milled 295,000 tonnes at a mill head grade of 5.52 g/t gold. Gold recovery was 96.5% resulting in gold production of 52,666 ounces.

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Liquidity Position

During the second quarter, Orla repaid $30.0 million towards its revolving credit facility, ahead of schedule, bringing the outstanding drawn amount to $120.0 million. At June 30, 2025, Orla’s cash position was $215.4 million, resulting in a net debt position of $204.6 million².

  Cash position – June 30, 2025 $215.4 million
  Debt ($420.0) million
  Net Debt² ($204.6) million

 

 

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Second Quarter 2025 Conference Call

Orla expects to release its second quarter 2025 operating and financial results on Monday, August 11, 2025, and will host a conference call on Tuesday, August 12, 2025, at 10:00 AM, Eastern Time, to provide a corporate update. 

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Dial-In Numbers / Webcast:

USA / International Toll:         +1 (646) 307-1963
Canada – Toronto:                 +1 (647) 932-3411
Canada – Toll-Free:                +1 (800) 715-9871

Conference ID:                       3544395

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

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The live gold price can be found HERE

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City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

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=======

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This website is not sponsored, we are truly independent, and will always remain so

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

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

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Mining Review 15th June 2025

Mining Review 15th June 2025

City Investors Circle published the review of the past week for watchlist stocks as well as the commodity markets.

Meeka Metals confirmed the commissioning of the processing plant as production commences at their Murchison gold project.

 

 

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Meeka Metals

Meeka Metals drill site – Credits Meeka Metals

 

 

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City Investors Circle Mining Review 15th June 2025

 

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Mining Review 15th June 2025

City Investors Circle published the review of the past week for watchlist stocks as well as the commodity markets.

Meeka Metals confirmed the commissioning of the processing plant as production commences at their Murchison gold project.

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Gold was falling slowly until the Isreali attack on Iran, and it has now bounced over $3,400, and the large producing gold miners have all bounced back up after sliding for a couple of weeks.

Most of the industrial metals fell on less favourable economic news.

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“Rotation” is the new buzzword in the mining sector, as multiple commentators predict people are moving at least some of their profits from larger gold producers into more risky but potentially higher rewarding exploration juniors.

I have considered top slicing some profits, but only to invest into companies coming into production, such as West Red Lake Gold, Meeka Metals, Horizon etc. etc.

I do not yet feel there is a great opportunity in the early stage exploration space, and feel the largest upside remains with producers and soon to be producers.

There are hundreds of exploration companies out there, picking the one that will jump 100% or so after a drill result is like finding a needle in a haystack, so I prefer to stay with the producers for now.

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Archives

A list of all the significant news releases from our watchlist companies is below, please click on the link to be taken to the full story.

  Meeka Metals Plant Commissioning Underway

  Capricorn Metals Now a Fully Unhedged Gold Producer

  Mexican miners to demonstrate outside Orla Mining’s Vancouver offices

  Ora Banda Mining Report Strong Drill Results

  Power Metallic intercepts 12.54 m of 10.99% CuEq

  Orla Mining Delivers Initial Underground MRE for Camino Rojo

  Mining Review 8th June 2025

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Market Data

Weekly Price Changes

(US$ unless stated).

 

Metal Prices Price Weekly % change
Gold price in UK £ 2532 3.30%
Gold in AUD$ 5307 4.04%
Gold 3430 3.53%
Silver 36.23 0.53%
Palladium 1028 -0.87%
Platinum 1228 5.95%
Rhodium 5450 -2.24%
Copper 4.75 -2.86%
Nickel 6.75 -2.60%
Zinc 1.16 -3.33%
Tin 14.81 3.21%
Cobalt 15.12 -1.11%
Lithium 8425 -0.75%
Uranium 69.7 -0.99%
Iron Ore 95.3 -1.04%
Coking Coal 180 -2.70%
Thermal coal 107.8 0.47%
Metal ETFs Price Weekly % change
GLD 316.29 3.64%
GDX 54.46 5.50%
GDXJ 71.23 3.23%
Sil 48.81 0.93%
SILJ 14.99 0.07%
GOEX  (PCX) 48.42 2.78%
URA 36.13 7.40%
COPX  42.89 -0.67%
HUI  431.81 3.03%
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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.

.

Declaration

At the time of writing the author may hold positions in any of the stocks mentioned.

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Mexican miners to demonstrate outside Orla Mining’s Vancouver offices

Orla Mining (TSX: OLA)

VANCOUVER – Mine workers from Mexico, joined by United Steelworkers (USW) union members, will demonstrate Tuesday outside the Vancouver offices of Orla Mining to protest violence and intimidation against workers at Orla’s Camino Rojo mine in Mexico.

 

 

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Orla Mining

 

 

Comment

This doesn’t read very well, as a shareholder I always want the company I’m invested in to treat their workers properly.

It does look like a battle between two unions for control, and officers of both have vested interests of course, but what we don’t know is whether or not the union at the mine is causing unneccesary issues to Orla by abusing their position.

Unless we hear both sides we simply cannot take an informed view, so until then I trust Orla management to treat their workers correctly.

 

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Steelworkers and Mexican miners to demonstrate outside Orla Mining’s Vancouver offices over human and labour rights abuses in Mexico

June 9, 2025

 

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Orla Mining (TSX: OLA)

VANCOUVER – Mine workers from Mexico, joined by United Steelworkers (USW) union members, will demonstrate Tuesday outside the Vancouver offices of Orla Mining to protest violence and intimidation against workers at Orla’s Camino Rojo mine in Mexico.

WHO:    Members of the Mexican miners’ union Los Mineros and the United Steelworkers union

WHAT:   Protest outside Orla Mining offices in Vancouver over human and labour rights abuses

WHEN:  Tuesday, June 10, 4:30 p.m. PDT

WHERE: Sidewalk outside 1075 W. Georgia St., Vancouver

Since the spring of 2024, the Mexican miners’ union Los Mineros has alleged in numerous Mexican labour complaints that Orla Mining has pressured and coerced its workers in Mexico to decertify their union and affiliate with a pro-employer company union. A cartel is present at the mine and is alleged to have a relationship with the company’s management and the pro-employer union. Members of the cartel have threatened violence against workers who do not support the pro-employer union.

Last June the Mineros submitted a complaint over the company’s interference in their rights to freedom of association. The complaint was accepted by the U.S. Department of Labor under the Canada-U.S.-Mexico Agreement (CUSMA) Rapid Response Mechanism (RRM), and is now moving to an international arbitration panel.

 

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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.

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Orla Mining Delivers Initial Underground MRE for Camino Rojo

Orla Mining (TSX: OLA)

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

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

 

 

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Orla Mining Camino Rojo plant

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

 

 

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

 

 

 

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

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

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

Summary Highlights:

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

 

 

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– Jason Simpson, President and CEO commented

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

 

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

 

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

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The live gold price can be found HERE

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City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

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.

.

 

 



Mining Review 18th May 2025

Mining Review 18th May 2025

Orla Mining’s Q1 loss disappointed the market and the shares were marked down harshly as a result.

West Red Lake Gold Mining are ramping up to production and the share price is stirring at last.

 

 

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Westgold

Gold in drill core from Beta Hunt mine, Western Australia. – Credits Karora Resources

 

 

 

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Mining Review 18th May 2025

Orla Mining’s Q1 loss disappointed the market and the shares were marked down harshly as a result.

West Red Lake Gold Mining is ramping up to production and the share price is stirring at last.

Westgold and G Mining Ventures both released decent results, bit share prices fell due to the falling price of gold.

 

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Gold had a poor week as a risk on attitude returned to the markets, but did hold onto the $3,200 level just, but may well fall below next week.

US economic data looked better, but inflation fears remain and Trump is focused on reducing interest rates, which will be bullish for gold.

 

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News from companies on our watchlists from the last week are listed below, click the link to be taken to the full news release.

Archives

  City Investors Circle Watchlist adjustments

 G Mining Ventures Reported First Quarter 2025 Results

  Westgold Report Results For The Period Ending 31 March 2025

  West Red Lake Gold  Mines Intersected 48.97 g/t Au over 18.7m

  Orla Mining’s Q1 Loss Disappointed the Market

  Capricorn Metals Drilling Update

  Mining Review 11th May 2025

 

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Market Data

Weekly Price Changes

(US$ unless stated).

Metal Prices Price   Weekly % change
Gold price in UK £ 2421 -3.56%
Gold in AUD$ 5027 -3.03%
Gold 3202 -3.70%
Silver 32.35 -1.04%
Palladium 960.03 -1.89%
Platinum 989 1.61%
Rhodium 4625 -13.95%
Copper 4.61 -0.22%
Nickel 7.02 0.72%
Zinc 1.22 5.17%
Tin 14.08 0.00%
Cobalt 15.76 3.07%
Lithium 8768 0.09%
Uranium 71.5 2.07%
Iron Ore 100.3 2.14%
Coking Coal 189.5 1.07%
Thermal coal 102.5 -2.38%
Metal ETFs                       Price  Weekly % change
GLD 294.24 -4.11%
GDX 46.33 -8.02%
GDXJ 58.71 -8.74%
Sil 39.43 -7.38%
SILJ 11.93 -6.28%
GOEX  (PCX) 39.79 -9.38%
URA 27.71 2.03%
COPX  38.53 -1.61%
HUI  365.85 -8.56%
Gold / Silver ratio                                       98.98 -2.69%

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Click HERE for live Spot Metal Prices 

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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.

.

Declaration

At the time of writing the author may hold positions in any of the stocks mentioned.

.

To read our full terms and conditions, please click HERE



Orla Mining’s Q1 Loss Disappoints the Market

Orla Mining (TSX: OLA)

Published Q1 figures that disappointed the market as the Musselwhite costs increased the loss on a short term basis.

Record quarterly gold production of 47,759 ounces and total quarterly gold sold of 46,356 ounces at an AISC of $850 for Camino Rojo only.

 

 

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Orla Mining

Orla Mining – Musselwhite Gold Mine –    Credits Orla Mining

 

 

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Orla Mining TSX : OLA
Stage Development
Metals Gold
Market cap C$3.97 billion   @ C$12.37
Location Mexico + Nevada + Canada 
Website www.orlamining.com

 

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Orla Mining’s Q1 Loss Disappoints the Market

 

 

Orla Mining (TSX: OLA)

Published Q1 figures that disappointed the market as the Musselwhite costs increased the loss on a short term basis.

Record quarterly gold production of 47,759 ounces and total quarterly gold sold of 46,356 ounces at an AISC of $850 for Camino Rojo only.

 

First Quarter 2025 Highlights

  • Record quarterly gold production of 47,759 ounces and total quarterly gold sold of 46,356 ounces (pre-released). First quarter all-in sustaining cost1 (“AISC”) was $845 per ounce of gold sold (Camino Rojo operations only).
  • Acquisition of Musselwhite completed; integration process advancing.
  • Updated 2025 production and AISC guidance, inclusive of Musselwhite, is 280,000 to 300,000 ounces of gold produced and $1,300 to $1,500 per ounce gold sold, respectively.2 With first quarter production and costs, Orla is currently on plan to achieve full year guidance.
  • Musselwhite investment of $115.0 million of exploration and capital to enhance future growth profile.
  • Net loss for the first quarter was $69.8 million or $(0.22) per share, driven by the fair value adjustments on our financial instruments arising from the Musselwhite acquisition.
  • Adjusted earnings1 for the first quarter were $38.6 million or $0.12 per share.
  • Cash flow from operating activities before changes in non-cash working capital during the first quarter was $401.2 million driven by the proceeds received from the gold prepayment3.
  • Exploration and project expenditure1 was $15.8 million during the quarter, of which $6.9 million was capitalized and $8.9 million was expensed.
  • The Company ended the period with a cash balance of $184.2 million and $450 million in debt.

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–       Jason Simpson, President and Chief Executive Officer of Orla commented

“We are proud of the continued consistency from our team in Mexico where the Camino Rojo Mine remains a strong cash flow generator.

 

“This quarter also marked a major milestone with the closing of the Musselwhite acquisition, expanding our presence in Canada, and increasing our annual gold production guidance to 280 – 300 thousand ounces.

 

“Over the next two quarters, our focus will be on integrating Musselwhite, laying the foundation for long-term success. Over the next 24 months and beyond, we plan to invest significantly in exploration and provide our new team with the resources to reshape Musselwhite beyond 2030.

 

“Our next step of growth will be driven by our U.S. team, where we continue to advance the South Railroad Project in Nevada through permitting and toward construction.”

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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



Mining Review 20th April 2025

Mining Review 20th April 2025

The price of gold reached a new high and settled up around 2%.

Calibre Mining and Orla Mining announced record production and at lower gold prices than the current level.

 

 

Happy Easter!

We wish all our readers a happy and peaceful Easter.

 

 

Awale Resources

Awalé Resources at the PDAC

 

 

City Investors Circle Mining Review 20th April 2025

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The price of gold reached a new high and settled up around 2%. All the precious metals rose, with silver rising nearly 5%.

Base metals also rose, with the exception of lithium, coking. and thermal coal.

 

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Calibre Mining and Orla Mining announced record production and at lower gold prices than the current level.

Awalé Resources reported more high-grade gold strikes in the Ivory Coast.

Producing gold miners generally had a good week as the market seems to be finally recognising the revenue now being earned at the higher gold price. The good results being reported now are at a lower gold price than currently, so if this price remains or increases the next set of results will be spectacular.

 

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Archives

image_pdfimage_print

  Colonial Coal mourns the passing of Director Tony Hammond

  Calibre Mining Delivered 71,539 Ounces in Q1 2025, a Record

  Awalé Resources Hit 12 g/t Gold over 26 Metres

  Orla Mining Achieved Record Quarterly Production

  Orla Mining Launched a $25M Exploration Drilling Program

  Capricorn Metals On Track for Production Guidance

  Mining Review 13th April 2025

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Market Data

Weekly Price Changes

(US$ unless stated).

Metal Prices 200425 Weekly % change Monthly YTD
Gold price in UK £ 2510 1.50% 6.99% 17.95%
Gold in AUD$ 5220 1.68% 7.50% 24.67%
Gold 3332 2.90% 10.19% 26.12%
Silver 32.79 4.49% -0.94% 14.65%
Palladium 967 4.88% 2.06% 4.71%
Platinum 973 5.42% -0.31% 2.60%
Rhodium 4625 -15.14% -19.57% 3.35%
Copper 4.79 8.13% -5.71% 21.57%
Nickel 7.02 6.04% 4.31% 3.08%
Zinc 1.28 7.56% -3.76% -3.76%
Tin 16.29 17.11% 2.00% 27.27%
Cobalt 16.04 4.91% -1.23% 47.02%
Lithium 9457 -0.80% -4.12% -3.91%
Uranium 65.1 1.09% -0.31% -12.50%
Iron Ore 99.5 0.40% -0.50% -3.96%
Coking Coal 182.5 -0.82% 4.89% -10.54%
Thermal coal 98 -1.80% -2.00% -22.53%
Metal ETFs Price Weekly % change Monthly YTD
GLD 306.12 2.75% 9.92% 25.55%
GDX 50.92 2.45% 14.43% 45.36%
GDXJ 64.12 4.74% 15.47% 44.77%
Sil 41.55 3.31% 5.16% 26.87%
SILJ 12.59 1.94% 1.61% 21.88%
GOEX  (PCX) 42.385 4.97% 15.27% 39.20%
URA 22.87 0.97% -8.52% -19.70%
COPX  36.35 2.34% -12.91% -6.65%
HUI  399.62 2.41% 13.48% 40.28%

Click HERE for live Spot Metal Prices 

#

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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.

.

Declaration

At the time of writing the author may hold positions in any of the stocks mentioned.

.

To read our full terms and conditions, please click HERE



Orla Mining Achieves Record Quarterly Production

Orla Mining (TSX: OLA; NYSE: ORLA)

Provided an operational update for the first quarter ended March 31, 2025.

Camino Rojo is on track to achieve annual guidance of 110,000 to 120,000 ounces of gold following the quarter.

 

 

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Orla Mining

Orla Mining – Musselwhite Gold Mine – Courtesy of Orla Mining

 

 

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Orla Mining TSX : OLA
Stage Development
Metals Gold
Market cap C$5 billion   @ C$15.65
Location Mexico + Nevada + Canada + Panama
Website www.orlamining.com

 

 

 

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Orla Mining Achieves Record Quarterly Production, market cap tops CAD$5 billion

 

Vancouver, BC – April 14, 2025 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to provide an operational update for the first quarter ended March 31, 2025.

Camino Rojo is on track to achieve annual guidance of 110,000 to 120,000 ounces of gold following the quarter.

Updated 2025 guidance, including the Musselwhite Mine, will be provided during the second quarter.

(All amounts expressed in millions of US dollars, as at March 31, 2025 and are unaudited)

First Quarter Operational Update

Total Gold Production & Sales Q1 2025
Camino Rojo oz 29,973 
Musselwhite (March only)1 oz 17,786 
Total Gold Produced oz 47,759 
Total Gold Sold oz 46,356 
     
Camino Rojo, Mexico   Q1 2025
  Ore Stacked tonnes 1,672,826
  Stacked Ore Gold Grade g/t 0.78 
  Gold Produced oz 29,973 
  Gold Sold oz 30,512 
 
Musselwhite, Canada March 20251
Ore Milled tonnes 104,287 
Milled Ore Gold Head Grade g/t 5.55 
Gold Produced oz 17,786 
Gold Sold oz 15,845 

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Camino Rojo Operations

During the quarter, Camino Rojo mined nearly 1.9 million tonnes of ore and 2.8 million tonnes of waste, for an implied strip ratio of 1.48. The operations achieved a daily stacking rate of 18.4 thousand tonnes per day at an average gold grade of 0.78 g/t, in line with the mine plan.

 

Musselwhite Operations

Orla completed the acquisition of Musselwhite on February 28, 2025, and operational figures are provided from March 1, 2025, onwards.

During the month of March, Musselwhite mined 108 thousand tonnes of ore and milled 104 thousand tonnes at a mill head grade of 5.55 g/t gold. Gold recovery rates of 95.7% resulted in gold production of nearly 18,000 gold ounces.

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Liquidity Position

  Cash position – March 31, 2025 $184.2 million
  Debt ($450.0) million
Net Debt2 ($265.8) million

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First Quarter 2025 Conference Call

Orla expects to release its first quarter 2025 operating and financial results on Friday, May 9, 2025, and will host a conference call on Monday, May 12, 2025, at 15:00 PM, UK time, to provide a corporate update. 

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Dial-In Numbers / Webcast:

International Toll:         +1 (646) 307-1963
Canada – Toronto:       +1 (647) 932-3411

Conference ID:                       4940392

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

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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 Launches $25M Exploration Drilling Program

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
Stage Development
Metals Gold
Market cap C$4.94 billion   @ C$15.31
Location Mexico + Nevada + Canada + Panama
Website www.orlamining.com

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Orla Mining Launches $25M Exploration Drilling Program to Expand Reserves and Resources and Extend Musselwhite Mine Trend

Vancouver, BC – April 1, 2025 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to announce the start of the 2025 exploration drilling program at the Company’s recently acquired Musselwhite Mine in Northwestern Ontario.
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2025 Program Summary:

  1. Underground drilling to replace and expand reserves and resources.
  2. Directional drilling from surface to prove the open down-plunge extension of the Mine Trend; the first surface program since 2020.
  3. Drill testing priority near-mine targets to identify potential new mill feed material.

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Background:

The Musselwhite Mine has produced nearly 6 Moz of gold over its 28-year operating history.

Recent exploration efforts have focused on near-mine targets, including the down-plunge extension of the mine trend (PQ Deep area), through underground drilling to replace depleted reserves and resources. However, historical exploration drilling confirmed that the mineralized system extends at least one kilometre beyond current reserves.

These results indicate significant potential mineralization beyond the current reserve.

Orla plans to continue underground exploration while also restarting drilling from surface to confirm the deposit’s down-plunge continuity. The objective is to define a critical mass of additional reserves and resources to support expansion of the operation and significantly extend the mine life.

Historical drilling along the mine trend extension suggests an additional two to three kilometres of mineralized strike potential beyond current reserves and resources, extending from the PQ Deep area into the down-plunge portion of the mine. Additionally, Orla will assess near-mine targets through surface drilling for further resource growth and potential new mill feed.

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

“We are thrilled to launch this long-overdue, ambitious exploration program at Musselwhite.

 

“Our primary objective is to intersect mineralization beyond the current reserves and resources along the down-plunge extension of the Mine Trend, demonstrating the potential to extend mine life well beyond 2030.

 

“We will also continue underground drilling and reactivate surface drilling near the mine to further expand resources and demonstrate the potential for mine life extension and expansion.” –

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2025 Underground Drill Program:

Underground exploration drilling began in March immediately following completion of the Musselwhite acquisition. Orla intends to complete approximately 35,000 metres of underground drilling in 2025 to offset mine depletion and grow reserves, resources and mineral inventories.

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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.

.



Orla Mining Completes the Musselwhite Acquisition

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

Orla Mining – Musselwhite Gold Mine.

 

 

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Orla Mining TSX : OLA
Stage Development
Metals Gold
Market cap C$3.47 billion   @ C$10.80
Location Mexico + Nevada + Canada + Panama
Website www.orlamining.com

 

 

 

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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;

“The addition of Musselwhite transforms Orla into a North American-centred, geographically diversified intermediate gold producer with multiple gold-producing assets and a self-funded growth portfolio.  

 

“Musselwhite strengthens our North American presence and more than doubles our annual gold production.

 

“This important Canadian gold mine also offers growth potential through optimization and mine life extension, something we intend to aggressively pursue.

 

“On behalf of the entire Orla Mining team, I want to thank our shareholders who have overwhelmingly supported our growth ambitions.

 

“I would also like to extend my sincere gratitude to Prem Watsa of Fairfax, and Pierre Lassonde, for their trust, support, and encouragement throughout the transaction process.

 

“Orla intends to place a strong emphasis on local stakeholders in Northern Ontario. We will maintain all existing relationships and honour all existing contracts with First Nations partners, businesses, suppliers, contractors, and vendors.

 

“To the Musselwhite employees, we are thrilled to welcome you to the Orla team and look forward to building upon your foundation of hard work, dedication, and success.

 

“We are committed to investing in you and the operation for many years to come and we’re excited to hit the ground running.”

 

 

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Musselwhite Mine

  • 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.
  • Based only on the current technical report, Musselwhite has a mine life until 2030 with average annual gold production of 202 koz at $1,269/oz all-in sustaining cost (“AISC”)¹,². Significant opportunities exist to optimize the operation and extend mine life through known extensions of the ore body.
  • The NPV5% at January 1, 2025, of Musselwhite is estimated at approximately $1 billion using a flat $2,500 gold price².
  • The addition of Musselwhite transforms Orla into a multi-asset intermediate producer with an immediate 140% increase in annual gold production to over 300 koz at competitive costs.
  • This acquisition builds on Orla’s established track record of development and operating success and is aligned with the Company’s strategy for growth and value creation, as exemplified by an over 500% share return in the Company’s less than 10-year history.
  • The upfront cash consideration for the acquisition of $810 million and gold-price linked contingent consideration of $40 million³.

..

 

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



Mining Review for January 2025 Published

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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Meeka Metals

 

 

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

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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.

.

.

To read our full terms and conditions, please click HERE



Mining Review 19th January 2025

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.

 

 

Meeka Metals

Archives

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City Investors Circle Mining Review 19th January 2025
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Gold continues to march forward despite being in a market where increasing yields and interest rates would normally knock it back. Silver was up a whopping 6% in a week, and the PGM metals were also all positive.
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The falling value of the British pound is an added bonus to bullion holders in the UK. 
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UK investors that hold Australian, Canadian, and US stocks are also benefitting due to the the weakness of the pound.
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Industrial metals were mostly positive, although lithium and uranium both fell.
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Orla Mining announced results that beat the recently improved guidance for the year by 19%.

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

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All the significant news from our watchlist companies can be accessed by clicking the links below to be taken to the full story.

American Creek’s JV Partner Tudor Gold Intensifies Exploration Efforts

Orla Mining Achieved a Record Annual Gold Production

Meeka Metals Announce High-Grade Gold at Turnberry

Meeka Metals – Initiating Coverage

Orla Mining’s Proxy Advised Shareholders to Vote for the Musselwhite Acquisition

 Westgold Group Production Lifted in Q2 FY25

Mining Review 12th January 2025

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Market Data

Weekly Price Changes

(US$ unless stated)

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Metal Prices Price Weekly % change
Gold price in UK £ 2230 3.90%
Gold US$ 2704 1.82%
Silver 30.49 6.40%
Palladium 951 4.82%
Platinum 944 4.61%
Rhodium 4575 5.59%
Copper 4.14 3.05%
Nickel 7.1 1.17%
Zinc 1.28 -3.76%
Tin 13.39 6.09%
Cobalt 10.73 0.00%
Manganese 2.9 0.00%
Lithium 10029 -0.22%
Uranium 73.9 -2.02%
Iron Ore 103.8 -5.31%
Coking Coal 195.5 -4.41%
Thermal coal 115.3 -7.51%
 
 
Metal ETFs Price Weekly % change
GLD 249.27 1.80%
GDX 36.75 2.68%
GDXJ 46.02 2.33%
Sil 33.01 0.18%
SILJ 10.57 1.26%
GOEX  (PCX) 31.44 1.87%
URA 28.03 -4.60%
COPX  39.83 0.59%
HUI  296.67 3.05%
Gold / Silver ratio 88.68 -4.31%

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Click HERE for live Spot Metal Prices 

#

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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.

.

.DDeclaration

At the time of writing the author may hold positions in any of the stocks mentioned.

.

To read our full terms and conditions, please click HERE



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

.

=======

,

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’s Proxy Advises Shareholders to Vote for the Musselwhite Acquisition

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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Leading Independent Proxy Advisory Firms Recommend Orla’s Shareholders Vote for the Proposed Acquisition of Musselwhite Mine from Newmont Corporation

Vancouver, BC – January 9, 2025 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to announce 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 Mine (the “Transaction”) from Newmont Corporation (“Newmont”).

The proxy advisory firms also recommended voting FOR a resolution to approve a concurrent private placement of convertible notes and common share purchase warrants to Pierre Lassonde and Fairfax Financial Holdings Limited.

The net proceeds from the private placement will be used to fund a portion of the purchase price of the Transaction (the “Concurrent Private Placement”).

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Your Vote is Important

  • The deadline for voting your shares by proxy is 8:00 a.m. (Vancouver time) on Friday January 17, 2025.
  • Your vote is important no matter how many shares you own. Vote today!
  • Shareholders who have questions or need assistance with voting their shares should contact Orla’s proxy solicitation agent, Laurel Hill Advisory Group, by telephone at 1-877-452-7184 or by email at assistance@laurelhill.com. 

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Orla’s Special Meeting of Shareholders

A special meeting of shareholders of the Company will be held on January 21, 2025, at 15.00 UK time,  (8:00 a.m. Vancouver time),  at Suite 3500 -1133 Melville Street, Vancouver, British Columbia, V6E 4E5, to consider the Transaction and Concurrent Private Placement.

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Recommendations of Orla’s Board of Directors 

Orla’s Board of Directors (excluding Scott Langley, Newmont’s representative on the Board), having considered all factors it has deemed to be necessary to be considered, unanimously recommends Orla’s shareholders vote FOR the resolutions approving the Transaction and the Concurrent Private Placement.

 

Shareholders are encouraged to read the Company’s management information circular dated December 9, 2024, and vote their shares as soon as possible.

The management information circular is available on SEDAR+ and EDGAR under the Company’s profile at www.sedarplus.ca and www.sec.gov, respectively, as well as the Company’s website at www.orlamining.com/investors/musselwhite-special-meeting.

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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.

.



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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=======

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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

 



Mining Review 24th November 2024

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 Conference

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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Click here for all company news archives

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Market Data

Weekly Price Changes

(US$ unless stated)

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Metal Prices 241124 Weekly
Gold price in UK £ 2171 6.74%
Gold 2716 5.93%
Silver 31.36 3.60%
Palladium 975 2.31%
Platinum 1019 7.34%
Rhodium 4600 -2.65%
Copper 4.06 1.00%
Nickel 7.12 2.45%
Zinc 1.35 2.27%
Tin 13.06 -0.68%
Cobalt 10.91 0.09%
Manganese 2.93 0.00%
Lithium 10558 1.71%
Uranium 78.6 1.16%
Iron Ore 100.8 0.70%
Coking Coal 204.5 -0.39%
Thermal coal 144 0.00%
Metal ETFs Price Weekly % change
GLD 249.84 5.60%
GDX 38.28 7.80%
GDXJ 48.34 7.16%
Sil 36.05 2.62%
SILJ 12.07 2.90%
GOEX  (PCX) 32.8 8.18%
URA 33.12 9.31%
COPX 42.59 3.63%
HUI 308.33 8.15%
Gold / Silver ratio 86.61 -3.20%

 

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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.

.

.D

To read our full terms and conditions, please click HERE



Orla Mining Expands into Canada with Musselwhite Acquisition

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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Orla Mining TSX : OLA
Stage Development
Metals Gold
Market cap C$1.9 billion   @ C$5.93
Location Zacatecas, Mexico + Nevada + Panama
Website www.orlamining.com

 

 

Orla Mining Announces Strategic Expansion into Canada with Acquisition of the Musselwhite Gold Mine

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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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To read the full news release, please click HERE

.

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



Mining Review 20th October 2024

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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Westgold

 

 

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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Click here for all company news archives

.

Market Data

Weekly Price Changes

(US$ unless stated)

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Metal Prices Price Weekly % change
Gold price in UK £ £2086 2.41%
Gold 2722 2.45%
Silver 33.74 5.83%
Palladium 1086 1.59%
Platinum 1023 2.79%
Rhodium 4775 0%
Copper 4.25 -1.39%
Nickel 7.54 -3.08%
Zinc 1.36 -0.73%
Tin 14.2 -3.79%
Cobalt 10.88 0.09%
Manganese 2.94 -1.34%
Lithium 9774 -4.03%
Uranium 83.3 -0.12%
Iron Ore 104.1 -1.61%
Coking Coal 205 -1.91%
Thermal coal 147.3 -1.34%
 
 
Metal ETFs Price Weekly % change
GLD 251.27 2.14%
GDX 43.15 7.74%
GDXJ 53.87 8.54%
Sil 39.34 8.08%
SILJ 14.49 8.87%
GOEX  (PCX) 35.07 4.59%
URA 32.8 9.33%
COPX  45.81 -2.22%
HUI  344.56 7.93%
Gold / Silver ratio 80.68 -3.20%

 

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#

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.=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

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.” 

.

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 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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Disclosure

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

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