Orla Mining Starts 2024 with Continued Strong Operating Performance at Camino Rojo
(All amounts expressed in millions of US dollars, as at
|
|
Q1 2024 |
Ore Mined |
tonnes |
1,943,865 |
Waste Mined |
tonnes |
872,571 |
Total Mined |
tonnes |
2,816,435 |
Strip Ratio |
w:o |
0.45 |
Ore Stacked |
tonnes |
1,783,305 |
Daily Stacked Throughput Rate – Average |
tpd |
19,597 |
Stacked |
g/t |
0.82 |
Gold Produced |
oz |
33,223 |
Gold Sold |
oz |
32,046 |
At
Cash position |
|
Long-term debt 2 |
|
Net cash 1,2 |
|
Undrawn debt available |
|
Total available liquidity 1 |
|
____________________________ |
1 Net cash and liquidity are non-GAAP measures. See the "Non-GAAP Measures" section of this news release for additional information. |
2 Long-term debt and undrawn debt may not tie due to rounding |
Further to the Company's
On
The Notice of Intent to Arbitrate was filed under the Canada-Panama Free Trade Agreement (the "FTA") and is intended to facilitate consultations between the Government of
Orla will host a conference call on
Dial-In Numbers / Webcast:
Conference ID: 5844017
Toll Free: 1 (888) 550-5302
Toll: 1 (646) 960-0685
Webcast: https://orlamining.com/investors/presentations-and-events/
The scientific and technical information in this news release was reviewed and approved by Mr.
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.
All-in Sustaining Costs
The Company has provided an AISC performance measure that reflects all the expenditures that are required to produce an ounce of gold from operations. The Company reports ASIC on a per-ounce sold basis. While there is no standardized meaning of the measure across the industry, the Company's definition conforms to the all-in sustaining cost definition as set out by the
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 in addition to conventional measures prepared in accordance with IFRS, net cash is useful to evaluate the Company's leverage and is also a key metric in determining the cost of debt.
|
|
|
Cash and cash equivalents |
$ 118.1 |
$ 96.6 |
Long term debt |
(88.4) |
(88.4) |
|
$ 29.7 |
$ 8.2 |
Liquidity
Liquidity is calculated as the sum of cash and cash equivalents, short-term Investments, and the undrawn amount available under the Company's revolving credit facility. Liquidity does not have any standardized meaning prescribed by GAAP and is therefore unlikely to be comparable to similar measures presented by other companies. The Company believes that liquidity is useful to evaluate the liquid assets available to the Company.
LIQUIDITY |
|
|
Cash and cash equivalents |
$ 118.1 |
$ 96.6 |
Total credit facility available |
150.0 |
150.0 |
Credit facility principal drawn down |
(88.4) |
(88.4) |
LIQUIDITY |
$ 179.7 |
$ 158.2 |
The financial results contained in this news release for the three-month period ended
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
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