Record Production and Revenue
Orla Mining recorded a historic quarter with 79,000 ounces of gold sold at a realized price of $3,251 per ounce, resulting in approximately $264 million in revenue. This was driven by the first full quarter of production from Musselwhite and continued operations at Camino Rojo.
Successful Musselwhite Integration
Musselwhite contributed significantly with nearly 53,000 ounces of gold produced from 303,000 tonnes of ore at a mill head grade of 5.52 grams per tonne and recovery rates of 96.5%.
Strong Financial Performance
Reported net income for the quarter was $48 million or $0.15 per share, with an adjusted net earnings of $64 million or $0.20 per share. Cash flow from operations before changes in noncash working capital was $103 million or $0.32 per share.
Exploration Success and Resource Update
Initial underground resource estimate for Camino Rojo was released, including 4.2 million gold equivalent ounces in the measured and indicated category and 0.42 million in the inferred category. Zone 22 remains a significant source of upside.
Sustainability and Community Engagement
Orla Mining is about to publish its 2024 sustainability report, highlighting progress in Scope 3 emissions, environmental standards, and community projects. Continued engagement with stakeholders in Mexico and Nevada was emphasized.