Orla Mining (TSX: OLA)

Confirmed that Camino Rojo construction was 89% complete as of September 30, 2021, on schedule for first pour in December 2021, and commercial production in the first quarter of 2022.  […]

 

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Orla Mining	TSX : OLA
Stage	Development
Metals	Gold
Market cap	C$1.11 Billion   @ C$4.50
Location	Zacatecas, Mexico + Panama

 

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Construction 89% Complete

VANCOUVER, BC – October 12, 2021 –Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to provide a construction update for the Camino Rojo Oxide Project.

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

CAMINO ROJO OXIDE CONSTRUCTION UPDATE

• Camino Rojo construction was 89% complete as of September 30, 2021, on schedule for first pour in December 2021 and commercial production in the first quarter of 2022.
• Construction remains on schedule with the main activities completed during the quarter including:
  • Ramp up of mining activities in line with plan,
  • Mechanical completion of the crushing and conveying system, reclaim tunnel, overland conveyor, and grasshopper conveyors,
  • Commencement of wet commissioning with introduction of ore into the crushing circuit,
  • 98% completion of the Merrill-Crowe plant and refinery,
  • Completion of the camp facilities.

 

• Construction activities planned for the fourth quarter will primarily focus on completion of dry commissioning followed by wet commissioning and leaching to achieve the first gold pour in December 2021. This includes commissioning of the crushing, conveying, and stacking equipment, application of cyanide on the heap leach pad, and commissioning of the Merrill-Crowe plant and refinery. (Dry commissioning includes pre-operational testing of the processing circuit without ore while wet commissioning includes the introduction of ore material).
• Camino Rojo capital expenditures totalled $24.3 million in the third quarter and total $106.3 million for the Project to date (September 30, 2021), out of a total project capital expenditure estimate of $134.1 million.
• Project capital committed totalled $120.2 million at the end of the third quarter with expenditures and commitments to date in line with estimates.
• Cash balance of $50.7 million at September 30, 2021.
• Project to date safety and environmental performance have been excellent and strict COVID-19 measures implemented at Camino Rojo have allowed construction progress to continue uninterrupted.
• To date, of all employees and contractors at Camino Rojo, 98% have received at least one dose of COVID-19 vaccine and 75% have received two doses of COVID-19 vaccine.

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Orla Mining management comments

“The march towards first gold pour continues at Camino Rojo and the team is focused on achieving this important milestone by year end”

 

“While the rate of construction advance has been impressive, I am most encouraged by the diligence exhibited by our team in maintaining a safe and healthy operation during this intensive and challenging period”.

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

 

To read the full news release, please click HERE

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Several images highlighting construction progress at the Camino Rojo Project are shown below and additional photographs are available at Camino Rojo Progress Photos.

 

CAMINO ROJO OXIDE PROJECT PHOTO

 

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

 

 

 

Mining Review Sunday Update 19th September

The story of the week again, sadly, was the falling gold price, into the mid 1700’s, due to better than expected US retail figures, and a strengthening US dollar.

Iron ore is another casualty, but for a different reason.  Coking coal is roofing it as supply is tight, bring companies like Colonial Coal into investor focus.

 

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Mining Review Sunday Update 19th September

The story of the week again, sadly, was the falling gold price, into the mid 1700’s, due to better than expected US retail figures, and a strengthening US dollar.

Iron ore is another casualty, but for a different reason, the Chinese government is limiting steel production for the remainder of 2021, causing a sharp drop in demand for iron ore.

Coking coal is roofing it as supply is tight, bring companies like Colonial Coal into investor focus. The price has more than doubled in a few short months.

 

Stocks on our watchlist making news this week

Orla Mining – Placed 8th in the TSX30 for stock price performance over three years.

Wesdome Gold – Placed 10th in the TSX30 for stock price performance over three years.

Apollo Consolidated – Defined some robust gold zones at Lake Rebecca

Fiore Gold – Amended their Pan Mine Technical Report

Neometals – The Primobius JV have started phase 2 of their battery recycling project

Gold Road – Reported a net profit and a dividend

Bardoc Gold – Highlighted the potential to grow the Zorastrian deposit

 

Market Data

 

Precious metals

Gold	1755	-2%
Silver	22.4	-6%
Palladium	2015	-8%
Platinum	943	-1%
Rhodium	14500	-6%

Gold got thumped by some unexpectedly good US retail numbers, and fell sharply back through to around $1,760.   Silver took an ever harder beating, losing 6% in 5 trading days.

Palladium was knocked back on lower car production due to a shortage of micro chips, and reports that some manufacturers are switching to platinum due to the lower cost.

 

 

Base metals

Copper	4.22	0%
Nickel	9	-2%
Zinc	1.39	0%
Tin	15.85	3%

 

 

Energy Metals

Cobalt	22.19	-1%
Manganese	2.87	-1%
Lithium	22941	+16%
Uranium	44	+9%

Lithium is roaring away as supply concerns are forcing battery companies to try and secure supply at ever higher prices.

Uranium is rising rapidly due to the actions of the Sprott Physical Uranium Trust buying a significant quantity on the spot market to warehouse, thus driving up prices. Sprott has just announced it is raising another $1 billion for uranium purchases. I wonder if Sprott is related to the Hunt brothers?

 

Bulk commodities

Iron Ore	102	-25%
Coking Coal	359	+22%

Quite an extraordinary divergence here, with iron ore slumping due to Chinese steel production limitations at the same time as a real coking coal supply crunch.

 

Miscellaneous

GDX	30.58	-3%
GDXJ	40.48	-1%
Sil	37.46	-4%
SILJ	12.46	-3%
GLD	163.77	-2%
Au / Ag Ratio	75.94	+1%
10 yr Tbond	1.371	2%
US  index (DXY)	93.26	1%
HUI	237.63	-2%

The precious metal ETF’s had predicable falls, given the losses on the other precious metals, as the US dollar strengthened.

The gold / silver ratio is widening again just as it seemed to be returning to a more normal level.

 

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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 Bardoc Gold, Colonial Coal, Gold Road Resources, and Orla Mining.

 

 

 

Orla Mining (TSX: OLA) and Wesdome Golf (TSX: WDO)

Both companies have been included in the TSX30 top 10 list of companies over the past three years. The 2021 TSX30 listed the 30 top-performing stocks over a three-year period, based on dividend-adjusted share price performance.

Orla came 8th, and Wesdome 10th, with gains of 313% and 283% respectively. Both companies feature in the current top 9 selections on our watchlist.

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Comment

It is extremely pleasing to see two of the nine companies featured in our principal watchlist included in the prestigious TSX30 list of best performing companies on the Toronto Stock Exchange, for share price performance, over the last three years.

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Orla Mining (TSX: OLA) and Wesdome Gold (TSX: WDO)

Both companies have been included in the TSX30 top 10 list of companies over the past three years. The 2021 TSX30 listed the 30 top-performing stocks over a three-year period, based on dividend-adjusted share price performance.

Orla Mining came 8th, and Wesdome 10th, with gains of 313% and 283% respectively. Both companies feature in the current top 9 selections on our watchlist.

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The 2021 TSX30 ranking:

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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.

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