Orla Mining Provides Q2 2024 Operational Results
(All amounts expressed in millions of US dollars, as at
Second Quarter 2024 Camino Rojo Oxide Mine Operational Update
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Q2 2024 |
YTD Q2 2024 |
Ore Mined |
tonnes |
1,904,649 |
3,848,513 |
Waste Mined |
tonnes |
2,051,940 |
2,924,511 |
Total Mined |
tonnes |
3,956,589 |
6,773,024 |
Strip Ratio |
w:o |
1.08 |
0.76 |
Ore Stacked |
tonnes |
1,934,678 |
3,717,983 |
Daily Stacked Throughput Rate – Average |
tpd |
19,717 |
19,657 |
Stacked |
g/t |
0.87 |
0.84 |
Gold Produced |
oz |
33,206 |
66,429 |
Gold Sold |
oz |
34,875 |
66,921 |
At
Liquidity Position
Cash position |
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Long-term debt2 |
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Net cash 1,[2] |
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Undrawn debt available2 |
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Total available liquidity 1 |
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Second Quarter 2024 Conference Call
Orla will host a conference call on
Dial-In Numbers / Webcast: |
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Conference ID: |
5844017 |
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Toll Free: |
1 (888) 550-5302 |
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Toll: |
1 (646) 960-0685 |
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Webcast: |
Qualified Persons Statement
The scientific and technical information in this news release was reviewed and approved by Mr.
About Orla Mining Ltd.
Orla's corporate strategy is to acquire, develop, and operate mineral properties where the Company's expertise can substantially increase stakeholder value. The Company has two material gold projects: (1)
Non-GAAP Measures
The Company has included certain performance measures in this news release which are not specified, defined, or determined under generally accepted accounting principles (in the Company's case, International Financial Reporting Standards ("IFRS")). These are common performance measures in the gold mining industry, but because they do not have any mandated standardized definitions, they may not be comparable to similar measures presented by other issuers. Accordingly, the Company uses such measures to provide additional information and you should not consider them in isolation or as a substitute for measures of performance prepared in accordance with generally accepted accounting principles ("GAAP"). In this section, all currency figures in tables are in millions, except per-share and per-ounce amounts.
Net cash is calculated as cash and cash equivalents and short-term investments less total debt at the end of the reporting period. This measure is used by management to measure the Company's debt leverage. The Company believes that net cash is useful in evaluating the Company's leverage and is also a key metric in determining the cost of debt.
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Cash and cash equivalents |
$ 154.3 |
$ 96.6 |
Long term debt |
(78.4) |
(88.4) |
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$ 75.9 |
$ 8.2 |
Liquidity
Liquidity is calculated as the sum of cash and cash equivalents, short-term Investments, and undrawn amounts available under the Company's revolving credit facility. Liquidity does not have any standardized meaning prescribed by GAAP and therefore may not be comparable to similar measures presented by other companies. The Company believes that liquidity is useful to evaluate the Company's ability to meet its short -term obligations as they come due.
LIQUIDITY |
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Cash and cash equivalents |
$ 154.3 |
$ 96.6 |
Total credit facility available |
150.0 |
150.0 |
Credit facility principal drawn down |
(78.4) |
(88.4) |
LIQUIDITY |
$ 225.9 |
$ 158.2 |
Preliminary Financial Results
The financial results contained in this news release for the three- and six-month periods ended
Forward-looking Statements
This news release contains certain "forward-looking information" and "forward-looking statements" within the meaning of Canadian securities legislation and within the meaning of Section 27A of the United States Securities Act of 1933, as amended, Section 21E of the United States Exchange Act of 1934, as amended, the United States Private Securities Litigation Reform Act of 1995, or in releases made by the
SOURCE