Orla Mining (TSX: OLA)

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

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

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

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

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

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2022 Exploration Highlights: Camino Rojo (Mexico)

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

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

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

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

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

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

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

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

 

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

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2022 Exploration: Camino Rojo (Mexico)

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

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Near Mine Exploration Results

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

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

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

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

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

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

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

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To read our full terms and conditions, please click HERE

City investors Circle Market review

The January 2023 Market Review has been published.

It features the three hot metals so far in 2023, plus comments on American Creek Resources, Karora Resources, and Orla Mining. 

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City investors Circle Market review –  January 2023 has been published.

It features the three hot metals so far in 2023, plus comments on American Creek Resources, Karora Resources, and Orla Mining.

We also review all the nine companies in our top tier watchlist for 2023, and comment on their prospects moving forward.

We review the metal price movements for the first month of the New Year, and the three hot metals of the moment, as thermal coal and lithium, last year’s highest gainers, are in retreat.

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To read this month’s Market Review, please click here

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To receive our free monthly Market Review, please email Andrew@city-investors-circle.com

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

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

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

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

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

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

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

.

=======

,

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

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

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

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

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Disclosure

At the time of writing the author holds shares in American Creek Resources, Karora Resources, and Orla Mining.

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Mining Review 22nd January 2023

Copper is up as once again supply concerns emerge as more protests erupt in Peru, constraining production in the second largest exporting country.

Ascot Resources, Calidus Resources, Impact Minerals, Minera Alamos, Orla Mining, and TriStar Gold made news this week.

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TriStar Gold team in Para State, Brazil.

Mining Review 22nd January 2023

Copper is up as once again supply concerns emerge as more protests erupt in Peru, constraining production in the world’s second largest exporting country. Some protests are targeting mines, with blockades, and arson attacks, the others the government, so it’s a fiery mix.

This is occurring as China is ramping back up their industrial production against a background of low world copper warehouse stocks.

Quite a busy week for news, with Ascot Resources, Calidus Resources, Impact Minerals, Minera Alamos, Orla Mining, and TriStar Gold all making positive this week. Please click the links below for the full story.

  Impact Minerals Selected For BHP’s Xplor program

  Ascot Resources Closes C$200m Construction Financing

  TriStar Gold – Corporate Update

  Calidus Resources Finds High-grade Gold at Blue Spec

  Orla Mining Reported Record Quarterly Gold Production of 32,017 Ounces

  Minera Alamos filed Cerro de Oro PEA

  Mining Review 15th January 2023

Read more: http://www.city-investors-circle.com/archives/#ixzz7r263diA1

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Market Data

Metal prices weekly change

(US$ unless stated)

Metal prices

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ETF prices

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Miscellaneous Market Data

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

=======

.

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

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

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

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

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

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

.

=======

,

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

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

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

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

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.

Disclosure

At the time of writing the author holds shares in Ascot Resources, Calidus Resources, and Orla Mining.

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Orla Mining (TSX: OLA)

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

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

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

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Record Quarterly Gold Production of 32,017 Ounces

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

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

2022 Camino Rojo Oxide Mine Operational Update

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

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

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

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

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

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

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2023 Guidance Summary

1. AISC, sustaining capital and non-sustaining capital are non-GAAP measures. See the “Non-GAAP Measures” section of this news release for additional information.
2. Exchange rates used to forecast cost metrics include MXN/USD of 20.0 and CAD/USD of 1.28

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

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

 

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

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To read the full news release, please click HERE

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=======

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

=======

.

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

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

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

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

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

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

.

=======

,

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

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

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

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

.

.

Disclosure

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

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City Investors Circle

The first few days of the new year have started well for precious metals, with gold and silver up and trading strongly.

Some of our watchlist stocks have had a good first week, with i-80 Gold, Karora Resources, Minera Alamos, and Orla Mining all rising strongly. 

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City Investors Circle Watchlist Stocks Rising in the First Week of The New Year.

The first few days of the new year have started well for precious metals, with gold and silver up and trading strongly.

Gold is up around $48 this week to $1868 as these notes are being written, confounding the doomsters that predicted heavy falls for gold when interest rates rose. Gold is defying conventional wisdom, possibly due to recent central bank buying showing that in some countries it is still considered a safe store of value and protection against currency debasement.

And of course with no counterparty, no risk of confiscation either, think Russian assets being frozen outside Russia.

Some of our watchlist stocks have had a good first week, with i-80 Gold, Karora Resources, Minera Alamos, and Orla Mining all rising strongly.

These are, in my honest opinion, solid stocks, well financed, and the last three are all in production and benefitting from the higher gold price.

i-80 Gold recently reported some bonanza polymetallic grades at Ruby Deeps, at Ruby Hill, which raised investor interest in the stock.

Karora Resources are recovering well from the selloff after they reported bad quarterly results due to covid hitting their workforce hard, and AISC rising out of control as a result. They are one to watch this year as they increase their nickel production to complement rising gold production in WA.

Minera Alamos is still to report commercial production, but the stock is rising, perhaps on the back of a director purchase earlier this week.

Orla Mining has had no news, but perhaps their purchase of Gold Standard ventures has deflected the fact that they have a copper gold asset in Panama, the scene of a battle between the government of that country and First Quantum, which is getting messy, although mining is continuing at their Cobre Mine, despite government orders to cease mining and close the mine, see here.

All handbags in my opinion, neither side can afford to lose the money the mine generates so a deal will be done, let’s see who blinks first.

Not much exploration news this week but we are only just restarting after the Christmas and New Year break.

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=======

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

=======

.

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

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

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

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

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

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

.

=======

,

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

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

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

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

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.

Disclosure

At the time of writing the author holds shares in ALL the companies mentioned.

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Orla Mining (TSX: OLA)

Several investment funds have recently increased their holdings in Orla Mining.

First Eagle Investment Management now owns just under 6 million shares in the company, and the Swiss National Bank and Sprott are amongst other funds that have significantly increased their holdings recently. 

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Orla Mining Cerro de Oro Project panoramic view.

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Comment

I find it very encouraging that funds are still increasing their positions in Orla Mining, despite the current downturn in the price of gold, and fall in most mining company share prices, including Orla’s.

I saw the Gold Standard Ventures acquisition as very positive for Orla, another shrewd move by management in my opinion, and with Panama work now starting I guess the funds like what they see.

Management have a diversified portfolio of projects, with the experience and expertise to bring them all into production.

At these lower prices for gold stocks it looks as though the funds can see an opportunity to add opportunistically.

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Several investment funds increase their stakes in Orla Mining

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Orla Mining (TSX: OLA) Several investment funds have recently increased their holdings in Orla Mining.

First Eagle Investment Management now owns just under 6 million shares in the company, and the Swiss National Bank and Sprott are amongst other funds that have significantly increased their holdings recently.

Swiss National Bank boosted its holdings in Orla Mining Ltd.  by 7.8% during the first quarter, and now owns 353,500 shares of the company’s stock after acquiring an additional 25,600 shares during the quarter.

Invesco Ltd. has raised its stake in Orla Mining by 49.7% during Q4, and now owns 3,132,111 shares of the company’s stock worth $11,965,000 after acquiring an additional 1,039,517 shares.

Sprott Inc. increased its position in shares of Orla Mining by 33.1% during Q4, and now owns 145,750 shares of the company’s stock after purchasing an additional 36,250 shares.

First Eagle Investment Management LLC lifted its holdings in Orla Mining by 0.6% during the 4th quarter, and now owns 5,895,007 shares, after purchasing an additional 34,295 shares during the last quarter.

HighTower Advisors LLC grew its stake in Orla Mining by 43.2% during the fourth quarter and now owns 40,087 shares after buying an additional 12,102 shares

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Orla Mining by 10.0% during the fourth quarter, and now hold 124,955 shares of the company.

Institutional investors plus hedge funds own 23.87% of Orla Mining’s stock.

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=======

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

=======

.

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

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

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

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

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

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

.

=======

,

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

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

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

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

.

.

Disclosure

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

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Orla Mining Ltd. (TSX: OLA)

And Gold Standard Ventures Corp.  (TSX: GSV  announced Orla has completed the previously announced acquisition of Gold Standard by way of court-approved plan of arrangement.

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

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VANCOUVER, BC – August 12, 2022 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) and Gold Standard Ventures Corp. (“Gold Standard” or “GSV”) (TSX: GSV; NYSE: GSV) are pleased to announce that Orla has completed the previously announced acquisition of Gold Standard by way of court-approved plan of arrangement (the “Transaction”).

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

“The closing of this acquisition marks an important milestone in Orla’s journey in becoming a growth-oriented, low-cost, mid-tier gold producer.

 

“We will seek to generate shareholder value through effectively exploring, building and operating our asset base, which now includes the South Railroad project located on the prolific Carlin trend”.

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Under the terms of the Transaction, former Gold Standard shareholders received, in exchange for each Gold Standard common share (a “Gold Standard Share”) held immediately prior to the effective time of the Transaction, 0.1193 of a common share of Orla and C$0.0001.

As a result of the completion of the Transaction, Orla acquired all of the issued and outstanding Gold Standard Shares and Gold Standard became a wholly-owned subsidiary of Orla.

The Gold Standard Shares will be delisted from the TSX and NYSE American. An application has been made for Gold Standard to cease to be a reporting issuer in all of the provinces and territories of Canada. An application will also be made for Gold Standard to terminate its reporting obligations in the United States.

Gold Standard’s key asset is the 100%-owned South Railroad Project (“South Railroad”), a feasibility-stage, open pit, heap leach project located on the Carlin trend in Nevada.

A Feasibility Study on South Railroad was completed in February 2022 and permitting activities are currently underway.

As part of the Transaction, Orla also acquired the Lewis Project (“Lewis”), a large, strategically located, prospective land package on the Battle Mountain trend in Nevada.

Orla has begun integrating South Railroad into the Company’s growth plans with key priorities for South Railroad to include project permitting, review of project schedule including critical path activities, and assessment of current exploration supporting resource expansion.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.

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=======

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

=======

.

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

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

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

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

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

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

.

=======

,

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

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

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

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

.

.

Disclosure

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

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Mining Review Sunday Update 17th July 2022

The strong US dollar is pushing down precious and industrial metal prices.

Mining stocks are taking a beating along with other popular sectors of the market.

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Neometals Primobius JV official opening

City Investors Circle – Mining Review Sunday Update 17th July 2022

The strong US dollar is pushing down precious and industrial metal prices, as can be seen from the table below.

Gold lost 2% week on week, and silver a whopping 3.16%. these are large numbers for a single week, especially as they come on the back of a large decline. Gold is just holding above $1,700, let’s see if it can provide support or whether we will be through into the 1600’s this week.

If gold falls any further I would expect to see announcements of some mines being put on care and maintenance soon.

The US dollar’s rise linked to interest rate rises is causing the decline of course, and we have to remember that in other currencies the price of gold is not falling so much.

It’s the same for base metals, and copper has fallen all the way back to the $3 range, after such a strong run during the past year. It’s also been badly effected by the Chinese covid lockdowns, as well as supply chain disruption, and the Ukraine conflict.

Mining stocks are unsurprisingly taking a beating along with other popular sectors of the market.

My major concern for a wile has been opportunistic bids for good quality companies by stronger ones, taking advantage of an undervaluation situation. A good example of that was the purchase of Gold Standard Ventures by Orla Mining, and now we have had Alexco being taken out with a low ball bid from Hecla Mining.

Despite Alexco announcing the buyout price of 47c per share was a “premium” to the VWAP, it’s a fraction of the price from the previous two weeks. I accept that Alexco had poorly executed (again), and once again silver had plunged just as they were restarting the mine, but this price looks like legalised theft to me.

I am concerned about Banyan Gold, where there is an obvious predator, Victoria Gold, sitting a few miles away, in production. My concern arises from the fact that the CEO’s of the two companies are married to each other!

When I expressed this concern to CEO Tara at PDAC, she responded that the NED’s were there to ensure a good, fair price is offered. Her confidence in NED’s is higher than mine, crusty old sceptic that I am.

As the shareholders of GSV and Alexco can attest, there is a danger that a good investment is sold for a song, and that just adds to the risk of holding stocks at this point.

Stocks on our watchlist making news this week

  Orla Mining added to tier 1 watchlist

  American Creek Resources reported 237.3 m of 1.51 g/t AU EQ at Treaty Creek

  Wesdome Gold Mines Announced Q2 2022 Production Results

  Karora Resources Produced 30,652 oz Au in Q2

  Neometals Confirmed a Mercedes Benz Purchase Order

  Orla Mining Announced their Q2 2022 Operational Results

  Cabral Gold Drilled 20.9m @ 4.2 g/t Au at Cuiú Cuiú

Market Data (US$)

Weekly price movements

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Base Metals

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Energy metals

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Bulk commodities

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Metal ETF’s

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Miscellaneous

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=======

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

=======

.

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

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

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

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

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

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

.

=======

,

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

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

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

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

.

.

Disclosure

At the time of writing the author holds shares in American Creek Resources, Banyan Gold, Karora resources, and Orla Mining, bought in the market at the prevailing price on the days of purchase. 

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Orla Mining (TSX: OLA)

Has been added to the tier 1 watchlist, due to its pullback in market cap bringing it into the criteria used, as gold stocks have fallen recently.

Orla recently purchased Gold Mining Ventures in what the market considers was a very attractive price, taking advantage of the downturn. […] 

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Orla Mining added to our Tier 1 watchlist after price fall brings it back into our investment criteria.

Orla Mining (TSX: OLA) has been added to the tier 1 watchlist, due to its pullback in market cap bringing it into the valuation range of criteria used for companies on the site, as gold stocks have fallen recently.

Orla has a producing gold mine, Camino Rojo in Mexico,  a newly acquired gold development project, South Railroad, in Nevada, USA, and a copper gold exploration project, Cerro Quema, in Panama.

Orla recently purchased Gold Standard Ventures in what the market considers was a very attractive price, a bargain in fact, taking advantage of the market downturn.

Orla Mining is run by some very savvy people, with a wealth of experience in the mining sector.

Their first project, Camino Rojo, also acquired very cheaply, has been brought into production on time and on budget despite the pandemic.

Management were then expected to turn their attention to Cerro Quema in Panama, but surprised investors by purchasing the two Nevada properties of Gold Standard Ventures. This causes me to speculate that they will now focus on South Railroad, rather than Panama.

South Railroad is analogous to Camino Rojo, so another low capex heap leach project that management have so much experience with.

I personally feel that Orla is potentially a mid tier producer in the making, and am looking to take advantage of the pullback to add to my position.

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

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.

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

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

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

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

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

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

.

=======

,

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, bought in the market at the prevailing price on the days of purchase. 

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Orla Mining Ltd. (TSX: OLA)

Provided an interim operational update for the second quarter ended June 30, 2022.

Camino Rojo Oxide Mine gold production totalled 25,672 ounces for the second quarter 2022, and 48,704 ounces year to date. […] 

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

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=======

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

=======

.

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

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

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

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

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

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

.

=======

,

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

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

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

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

.

.

Disclosure

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

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City Investors Circle Market Review June 2022

Features comments on why the steep price drop in copper could indicate a recession is imminent.

Companies commented on include Orla Mining, Gold Road Resources, Banyan Gold, Cabral Gold, Cyprium Metals, and Newcore Gold. 

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Ariana Resources’ Chris Sangster addresses a full house at the Global Mining Finance Conference amid the splendour of The Armourers’ Hall

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City Investors Circle Market Review June 2022

City Investors Circle Market Review for June 2022 features comments on why the steep price drop in copper could indicate a recession is imminent. Copper is seen as a leading economic indicator, so when the price is falling hard, as it is now,  economists start predicting a recession in the offing.

Metal prices are falling across the board as growth predictions are trimmed and talk of an imminent recession harden.

Companies commented on include Orla Mining, Gold Road Resources, Banyan Gold, Cabral Gold, Cyprium Metals, and Newcore Gold.

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To read the City Investors Circle Market Review for June 2022, please click HERE

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To subscribe to receive the monthly Market Review, and invitations to our free events, please email andrew@city-investors-circle.com

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

=======

.

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

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

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

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

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

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

.

=======

,

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

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

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

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

.

.

Disclosure

At the time of writing the author holds shares in Banyan Gold, Cabral Gold, Cyprium Metals, Orla Mining, Gold Road, and Newcore Gold, all bought in the market at the prevailing price on the days of purchase.

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Orla Mining  (TSX: OLA)

And Gold Standard Ventures Corp. have entered into a definitive agreement whereby Orla will acquire all of the issued and outstanding shares of Gold Standard by way of a court-approved plan of arrangement. 

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

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VANCOUVER, BC – June 13, 2022 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) and Gold Standard Ventures Corp. (“Gold Standard” or “GSV”) (TSX: GSV; NYSE: GSV)  are pleased to announce that they have entered into a definitive agreement (the “Arrangement Agreement”) whereby Orla will acquire all of the issued and outstanding shares of Gold Standard by way of a court-approved plan of arrangement (the “Transaction”).

Gold Standard’s key asset is the 100%-owned South Railroad Project (“South Railroad”), a feasibility-stage, open pit, heap leach project located on the prolific Carlin trend in Nevada.

In February 2022, Gold Standard completed a robust Feasibility Study and permitting activities are currently underway.

Gold Standard also owns the Lewis Project (“Lewis”), a large, strategically located, prospective land package on the Battle Mountain trend in Nevada.

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Orla Mining management comments

“This acquisition advances our strategy of creating stakeholder value through responsibly building and operating a portfolio of high-margin, cash-generating assets with superior geological prospectivity.

 

“The South Railroad Project is analogous to our recently completed Camino Rojo mine – a low capital intensity, open pit, heap leach project in a desirable location with exploration upside. We have the team, partners, and financial resources to develop this quality asset and we are ready to go.”

Jason Simpson, Chief Executive Officer of Orla Mining 

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Transaction highlights

Under the terms of the Transaction, Gold Standard shareholders will receive, in exchange for each Gold Standard common share (a “Gold Standard Share”) held, 0.1193 of a common share of Orla (each whole share, an “Orla Share”) and C$0.0001 (the “Consideration”).

The Consideration implies a purchase price of C$0.655 per Gold Standard Share, or gross consideration of C$242 million, and represents a 35% premium based on the close of Gold Standard’s and Orla’s share price on the Toronto Stock Exchange (“TSX”) on June 10, 2022 and a 35% premium based on Gold Standard’s 10-day volume weighted average price (“VWAP”) on the TSX for the period ended June 10, 2022.

Existing shareholders of Orla and Gold Standard will own approximately 87% and 13% of the pro forma company, respectively, following the close of the Transaction.

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ACQUISITION HIGHLIGHTS AND STRATEGIC RATIONALE

• Continues Orla’s strategy of creating value for all stakeholders by responsibly building and operating high-margin mines in stable jurisdictions with superior geology.
• South Railroad is a low-complexity, feasibility-stage project with robust project economics and is analogous to the recently completed Camino Rojo Oxide Mine.
• South Railroad combined with the Camino Rojo Oxide Mine and Orla’s robust organic growth pipeline in Mexico and Panama creates a path towards annual gold production of 500,000 ounces at industry leading all-in cost margins.
• Entry into Nevada with extensive and highly prospective land positions in the Carlin and Battle Mountain trends to underpin a long-term base of operations.
• Increases Orla’s proven and probable reserve base to 3.8 million gold ounces and its measured and indicated mineral resources to 12.3 million gold ounces.
• South Railroad dovetails with Orla’s robust project pipeline and is expected to be developed without further equity dilution for Orla shareholders.

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BENEFITS TO GOLD STANDARD SHAREHOLDERS

• Immediate upfront premium of 35%.
• Ongoing exposure to future value creating milestones at South Railroad and Lewis, as well as Orla’s robust portfolio of high-quality producing and development assets.
• Participation in an established gold producer with proven construction capabilities, a strong exploration track record, and an industry leading low-cost growth profile.
• Significantly enhanced financial strength, cash flow generation, institutional investor following, trading liquidity, and opportunity for index inclusion.
• Leverages Orla’s leadership and expertise in constructing and operating the Camino Rojo Oxide Mine, an open pit, heap leach operation with similar technical characteristics to the South Railroad project.
• Provides access to a strong balance sheet and robust cash flow generation to fund the construction of South Railroad and future exploration initiatives at reduced dilution, financing, development, and execution risk.

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Gold Standard Ventures management comments

“We are excited to combine with Orla to create a leading gold producer with the potential to have multiple low-cost, low-complexity, open pit, heap leach operations in the near future.

 

“This transaction provides Gold Standard shareholders with an immediate upfront premium, exposure to a well-financed gold producer, and strong upside potential as Orla delivers and de-risks the combined asset portfolio.

 

“Based on their recent success in constructing the Camino Rojo Oxide Mine on schedule and under budget, we believe that Orla is an ideal partner to bring South Railroad into production.”

Jason Attew, Chief Executive Officer of Gold Standard Ventures

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To read the full news release, please click HERE

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

=======

.

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

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

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

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

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

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

.

=======

,

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

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

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

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

.

Disclosure

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

.

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Orla Mining (TSX: OLA)

Recently released their Q1 2022 earnings results.

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

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

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

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

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To read the article in full, please click HERE

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

=======

.

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

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

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

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

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

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

.

=======

,

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

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

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

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

.

Disclosure

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

.

.

Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to announce the declaration of commercial production at the Camino Rojo Oxide Gold Mine (“Camino Rojo”), effective April 1, 2022.  […] 

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

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VANCOUVER, BC – March 31, 2022 –Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to announce the declaration of commercial production at the Camino Rojo Oxide Gold Mine (“Camino Rojo”), effective April 1, 2022.

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Orla Mining management comments

“In reaching commercial production at Camino Rojo, we have completed our transformation from explorer through developer to producer in three years.

 

“Today, the team will celebrate this success but tomorrow we will focus on how to grow our production.

 

“The declaration of commercial production at Camino Rojo comes after a successful commissioning period which included the ramp up of mining and processing to sustained throughput levels in excess of 75% of designed nameplate capacity of 18,000 tonnes per day.

 

“All major construction activities have now been completed and Camino Rojo has demonstrated its ability to sustain ongoing production levels.

 

“The operation will continue to seek opportunities to improve and optimize the throughput and availabilities to achieve and ultimately exceed design nameplate capacities.”

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

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About Orla Mining Ltd.

Orla is operating the Camino Rojo Oxide Gold Mine, a gold and silver open-pit and heap leach mine, located in Zacatecas State, Central Mexico.

The operation is 100% owned by Orla and covers over 160,000 hectares.

Orla also owns 100% of Cerro Quema located in Panama which includes a near-term gold production scenario and various exploration targets. Cerro Quema is a proposed open pit mine and gold heap leach operation.

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

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

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

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

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

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

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

.

=======

,

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 is a shareholder of Orla Mining, bought in the market at the prevailing price on the days of purchase.

.

Orla Mining (TSX: OLA)

Provided an exploration update and overview of targets and program objectives for its Camino Rojo and Cerro Quema Projects for 2022.

Exploration spending for 2022 is expected to total $15 million, with $10 million allocated to activities in Mexico and $5 million allocated to activities in Panama.

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VANCOUVER, BC – March 14, 2022 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to provide an exploration update and overview of targets and program objectives for its Camino Rojo and Cerro Quema Projects for 2022.

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Orla Mining management comments

“With Camino Rojo ramping up production and beginning to generate cash flow, Orla will gradually increase exploration expenditures.

 

“This disciplined allocation of capital to Mexico and Panama reinforces our ambitions of driving company value through discovery.”

Jason Simpson, President and Chief Executive Officer, Orla Mining

..

“2021 was focused on drilling and advancing studies at the Camino Rojo Sulphide deposit, delivering an initial mineral resource at Caballito in Panama and defining and prioritizing drill targets across the portfolio.

 

“In addition to increasing reserves at the Camino Rojo Mine, efforts will be dedicated to upgrading and growing resources and drill testing priority targets with the goal of making new discoveries near existing deposits in Mexico and Panama”.

Sylvain Guerard, Senior Vice President, Exploration, Orla Mining.

Exploration spending for 2022 is expected to total $15 million, with $10 million allocated to activities in Mexico and $5 million allocated to activities in Panama. Drilling at Camino Rojo and Cerro Quema is set to begin in the second quarter and will continue through the remainder of the year. Updates from the 2022 exploration program, including drill results and updated resource estimates, are expected during the second half of 2022 and early 2023.

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MEXICO EXPLORATION:

During the first year of production at the Camino Rojo Oxide mine, near-mine and regional exploration will be focused on increasing oxide reserves, supporting advancement of the sulphide deposit development scenario options, and testing priority targets defined in 2021 in an effort to make new satellite discoveries.

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Camino Rojo Oxide Program:

The Company is seeking to define additional oxide reserves at the Camino Rojo Mine following confirmatory core drilling on the Fresnillo Plc’s (“Fresnillo”) property, located immediately north and adjacent of the Camino Rojo oxide mine open pit.

While historical drilling indicates that mineralization continues across the property boundary onto the Fresnillo layback area, no ounces from this area are currently included in the Camino Rojo mineral reserve estimate.

The planned 2,500m diamond drill program is designed to confirm and delineate mineralization located in the oxide pit layback and allow for a potential update of mineral resource and reserve estimations.

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To read the full news release, please click HERE

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.

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

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

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

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

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

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

.

=======

,

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, bought in the market at the prevailing price on the day of purchase.

.

.

Orla Mining Ltd. (TSX: OLA)

Provided an operational update for the Camino Rojo Oxide Mine.

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

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Orla Mining Camino Rojo vista

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

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

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Orla Mining management comments

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

 

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

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

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

CAMINO ROJO OXIDE MINE OPERATIONAL UPDATE

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

Camino Rojo Stacking Tonnes per Day

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

• To date, of all employees and contractors at Camino Rojo, 99% have received at least one dose of COVID-19 vaccine and 95% have received two doses of COVID-19 vaccine.
• At the end of January 2022, Camino Rojo workforce totalled 190 employees with 100% of individuals from Mexico and 56% from the local surrounding communities.

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UPCOMING MILESTONES

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

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

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

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

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

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

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

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

.

=======

,

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 of Orla Mining bought in the market at the prevailing price on the days of purchase.

.

.

City Investors Circle – Mining Review 19th Dec 2021

The price of gold is still gyrating between $1760 and $1810, as the FOMC meeting comments are absorbed by the market, and sentiment changes by the day.

Ascot Resources, Cabral Gold, Canuc Resources, Neometals, and Orla Mining all made significant announcements this week.

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Cabral Gold exploration at Cuiu Cuiu, Para State, Brazil.

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City Investors Circle – Mining Review 19th Dec 2021

The price of gold is still gyrating between $1760 and $1810, as the FOMC meeting comments are absorbed by the market, and sentiment changes by the day.

Gold just failed to hold $1800 on Friday, but December is normally a poor month for the yellow metal, so if it can hold current levels until the New Year, it’s reasonable to expect a rally above %1800 then.

South America produced the big political news this week, with the government of Chabut, Argentina, finally approving mining in the area that includes Pan American Silver’s Navidad (Christmas) mine.

This has been a long time coming and involved some last minute chicanery by the pro mining lobby to carry the vote, which was close. This has led to riots, see HERE.

The other news was the temporary closure of Las Bambas copper mine in Peru, owned by Chinese company MMG, as protesters have blocked the road as a result of a dispute with the company. Las Bambas produces 2% of the world’s copper, so is a significant supplier.

Las Bambas Copper Mine, Apurimac Region, Peru

Company news this week

Ascot Resources, Cabral Gold, Canuc Resources, Neometals, and Orla Mining all made significant announcements this week, as detailed below.

Apollo Consolidated bid farewell to the markets as it was absorbed into Ramelius Resources after the successful buyout. given that Ramelius are a profitable producing gold miner, one would expect they will be able to easily fund more exploration at lake Rebecca in the near term. Transporting concentrate to one of their five nearby mines in Western Australia must  be an option, thus saving on capex.

Earlier this year we lost Roxgold as it was the subject of a successful bid by Fortuna Silver. I did not like the deal at the time, because Roxgold were doing everything right, in production, making a profit, and building a second mine from earnings. Fortuna have a mix of silver properties in Argentina, Peru, and Mexico.

My objection to the deal was that Fortuna had mines in Argentina and Peru, which are too high risk for me at the moment, and only one project in a tier 1 jurisdiction, Mexico. Ironically they have lost their licence in Mexico!  As a result the price has halved in short order. I wonder how the remaining Roxgold shareholders are feeling now?

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Stocks on our watchlist in the news last week

   Ascot Resources drills 36.2 g/t Gold Over 7.1 M at Sebakwe

  Maple Gold Mines Closes C$7 million Bought Deal

  Orla Mining Pours First Gold at Camino Rojo, Mexico

  Colonial Coal shareholders re-elect six directors

  Canuc Resources Issues San Javier Project Update

  Cabral Gold Drills 70.8m @ 1.0 g/t Gold at MG Gold

  Neometals signs agreement for ELi®Lithium Process

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Market Data

(All in US$)

Precious metals

A steady week considering the implications of the FOMC meeting, rising interest rates quicker than anticipated, and tapering coming.

Platinum and palladium are suffering due to the low volumes of new cars being produced globally.

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Base Metals

Tin and nickel both took slight knocks, after having strong rises during 2021. The temporary closure of the Las Bambas copper mine in Peru has not resulted in a rise in the price of the metal yet.

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Energy Metals

Uranium is slipping back slowly after the recent steep ascent after years in the doldrums. One of the reasons for the rise was companies like UEC, and the newly created Sprott Uranium Fund buying up spare supply and warehousing it.

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Bulk commodities

With the power situation improving in China and the government allowing steel production to increase the iron ore and coking coal have surged again.

We have added magnesium to this category, due to it being involved in steel production. It is a critical metal and china supplies 87% of world volume. The price has been rising sharply, and is up over 150% in 2021.

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Metal ETF’s

We have added the copper COPX  Global X Copper Miners ETF to this category.

City Investors Circle – Mining Review 19th Dec 2021 is complete.

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

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

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

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

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

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

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

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

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

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

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Disclosure

At the time of writing the author holds shares in Ascot Resources, Colonial Coal, Maple Gold, and Orla Mining, bought in the market at the prevailing price on the days of purchase.

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To read our full terms and conditions, please click HERE

Orla Mining Ltd. (TSX: OLA)

Announced that the Company has poured gold from its Camino Rojo Oxide mine  located in Zacatecas State, Mexico.

Orla has achieved first gold pour at Camino Rojo, which is an important milestone in the rapid evolution of the Company, explorer to producer.

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VANCOUVER, BC – December 14, 2021 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is excited to announce that the Company has poured gold from its Camino Rojo Oxide mine (“Camino Rojo”) located in Zacatecas State, Mexico.

The first pour occurred on schedule on December 13, 2021. Three bars were poured with a total weight of 1,278 ounces containing approximately 770 ounces of gold and 510 ounces of silver. The Company is planning additional pours during the remainder of 2021.

Orla Mining management comments

“Orla has achieved first gold pour at Camino Rojo, an important milestone in the rapid evolution of our Company.

 

“This accomplishment is the result of the hard work and diligence of the entire team, and we are incredibly proud.

 

“This team includes our employees, our consultants, and our contractors directed by Camino Rojo’s EPCM, M3 Engineering & Technology Corporation.

 

“In less than two years, we have permitted, financed, and constructed our first project, while maintaining the health and safety of our workforce.

Jason Simpson, President and Chief Executive Officer, Orla Mining

“I would like to thank Orla’s team led by Jason Simpson, Chief Executive Officer, Andrew Cormier, Chief Operating Officer, Etienne Morin, Chief Financial Officer, and Sergio Saenz, General Manager of Camino Rojo, for the outstanding work and dedication that has enabled this achievement in the face of unprecedented challenges brought by the COVID-19 pandemic.

 

“We all now look forward to the sustainable value this mine will bring to the local communities, and to the next steps in the growth and success of the Company.”

Chuck Jeannes, Chairman of the Board, Orla Mining

Next steps

Commissioning and operational ramp-up will continue during the month of December and during the first quarter of 2022. Mining and processing tonnes and grades have been meeting expectations thus far and commercial production is targeted for the end of the first quarter of 2022.

As the Company approaches commercial production, operational guidance for 2022 will be provided.

During the month of November, the Company mined a total of 466,215 ore tonnes at an average grade of 0.65 g/t Au and crushed and stacked a total of 374,976 tonnes on the heap leach pad.

Year to date November 30, 2021, the Company mined a total of 1,589,994 tonnes of ore at an average grade of 0.72 g/t Au and crushed and stacked a total of 750,564 tonnes.

Several images highlighting the first gold pour at the Camino Rojo Project are shown below:

CAMINO ROJO MINE FIRST POUR PHOTOS

Figure 1: Camino Rojo First Pour

Figure 2: Camino Rojo Dore Bar 001

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

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

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

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

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

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

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

.

=======

,

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

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

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

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

.

Disclosure

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

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 Orla Mining Ltd. (TSX: OLA)

Announced the independent mineral resource estimate for the Caballito copper-gold deposit at the Company’s 100%-owned Cerro Quema project located in the Azuero Peninsula, Los Santos Province, Panama.

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Orla Mining Cerro Quema project panoramic view

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VANCOUVER, BC – December 6, 2021 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to announce the independent mineral resource estimate for the Caballito copper-gold deposit at the Company’s 100%-owned Cerro Quema project (“Cerro Quema”) located in the Azuero Peninsula, Los Santos Province, Panama.

Caballito is a large, copper-gold deposit that represents an opportunity for the Company to potentially transform the scale and scope of Cerro Quema beyond the separate oxide project outlined in the July 2021 pre-feasibility study.

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The mineral resource estimate for the Caballito copper-gold deposit consists of the following:

• 31,952,000 tonnes of sulphide indicated mineral resources at an average CuEq grade of 0.96% (0.83% Cu, 0.31 g/t Au & 2.2 g/t Ag) for 676 Mlbs of CuEq (585 Mlbs Cu, 315 Koz Au and 2,260 Koz Ag).
• 22,569,000 tonnes of sulphide inferred mineral resources at an average CuEq grade of 0.85% (0.77% Cu, 0.21 g/t Au & 1.2 g/t Ag) for 425 Mlbs of CuEq (381 Mlbs Cu, 155 Koz Au and 856 Koz Ag).

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The Caballito deposit, at its nearest point, is approximately 1 kilometre south-east of the Quemita oxide deposit outlined in the July 2021 Pre-Feasibility Study, see HERE

The Caballito deposit locally outcrops at surface and the copper-gold mineralization has been intersected over an estimated strike length of approximately 800 metres, a vertical extent of approximately 400 metres, and a variable thickness ranging from 50 to 150 metres.

The mineral resource estimate, prepared by Moose Mountain Technical Service, includes a total of 62 holes (13,894 metres) of diamond drilling. The deposit remains open along strike and at depth.

The Company is targeting a 2022 drill program aimed at extending known mineralization as well as drilling newly defined targets. Along with the forthcoming exploration drill program, the Company will commence metallurgical studies and additional infill drilling and technical work to increase its understanding of the Caballito deposit.

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Selected drill results within the resource include the following:

• Hole CQDH-18-181 (Idaida): 1.87% Cu, 0.30 g/t Au over 27.4m (22.0m est. true width)
• Hole CQDH-18-179 (Idaida): 3.73% Cu, 0.89 g/t Au over 17.6m (16.5m est. true width)
• Hole CQDH-18-160 (Caballito): 1.72% Cu, 0.39 g/t Au over 83.5m (83.3m est. true width)
• Hole CQDH-18-163 (Caballito): 1.78% Cu, 0.33 g/t Au over 89.7m (89.6m est. true width)
• Hole CQDH-18-157 (Caballito) : 1.63% Cu, 0.51 g/t Au over 102.0m (102.0m est. true width)

Full drill results are available in the Appendix of the press release and available on Orla’s website at: Caballito Drill Results.

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Orla Mining management comments

“We are incredibly proud of our team and our partners in Panama, Caballito is a grassroots discovery that has the potential to transform our future in the country.

 

“We first discovered this high-grade copper-gold mineralization in 2017 and have continued to systematically explore the region, having now drilled over 40 more holes in Caballito.

 

“Along this underexplored, highly prospective mineralized trend, we see potential for additional exploration success. We aim to continually work with the Panamanian Government and evaluate the opportunity for a long-life project that can benefit all stakeholders.

Jason Simpson, President and Chief Executive Officer, Orla Mining

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“The initial resource at Caballito highlights Orla’s success in Panama, as well as the ongoing evolution of the Cerro Quema project.

 

“We believe there is significant potential for new discoveries within this highly prospective, district-scale, high-sulphidation epithermal system. We will continue to focus on expanding known resources at Caballito and Idaida with infill and step-out drilling.

 

“Our regional work has highlighted coincident geophysical and geochemical anomalies in a similar geological context in targets such as La Pelona and Quemita and defined a highly prospective porphyry target at La Prieta, which we intend to drill test in 2022.

 

“We have also identified copper-gold mineralization below both of the La Pava and Quemita gold-oxide pits, requiring additional follow-up work. We are excited with our progress to date and look forward to advancing the new copper-gold resources, as well as testing new regional early-stage targets.”

Sylvain Guerard, Senior Vice President, Exploration, Orla Mining

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

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

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

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

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

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

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

.

=======

,

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 poster holds shares in Orla Mining, bought in the market at the price prevailing on the days of purchase.

Orla Mining (TSX: OLA)

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

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

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

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

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

A transcript of the Q3 call can be found HERE.

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

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

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

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

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

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

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

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

.

=======

,

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

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

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

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

.

Disclosure

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

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