Q2 2025 Orla Mining Ltd Earnings Call Transcript
Key Points
- Orla Mining Ltd (ORLA) recorded its first full quarter of production from Musselwhite, resulting in a record period of production.
- The company released an initial underground resource update for Camino Rojo, which includes 4.2 million gold equivalent ounces in the measured and indicated category.
- Orla Mining Ltd (ORLA) sold a record 79,000 ounces of gold at a realized price of $3,251 per ounce, generating approximately $264 million in revenue for the quarter.
- The company repaid $30 million towards its revolving credit facility, reducing net debt to approximately $205 million.
- Orla Mining Ltd (ORLA) is advancing its exploration programs across Canada, the United States, and Mexico, with positive results from the Zone 22 discovery.
- An uncontrolled material movement event at Camino Rojo resulted in a temporary pause in mining operations and a revision of production guidance.
- Revised guidance for Camino Rojo indicates lower gold production and higher cash costs compared to initial expectations.
- The company is reviewing potential criminal activity and regional security risks affecting the Camino Rojo mine and neighboring communities.
- Orla Mining Ltd (ORLA) experienced fluctuations in grade and cost at Musselwhite, impacting the overall cost profile.
- The permitting process for the larger layback at Camino Rojo is ongoing, with a positive resolution expected late in the year, which could affect future operations.
Good morning, ladies and gentlemen, and welcome to the Orla Mining's conference call for the second quarter 2025 results. My name is Eric, and I will be your conference operator today. Please be advised that this call is being recorded.
I would like to turn the meeting over to Andrew Bradbury, Vice President, Investor Relations and Corporate Development. Please go ahead, Mr. Bradbury.
Thank you, operator, and welcome to Orla's second quarter 2025 results conference call. We will be making forward-looking statements during today's call, and I direct you to the second and third slides of the presentation, which contains important cautionary notes regarding these forward-looking statements. All dollar amounts discussed today will refer to US dollars unless otherwise indicated.
The Orla executive team is on the call this morning, and I'll now pass the call to Jason Simpson, President and CEO.
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