Orla on track to meet guidance as Musselwhite acquisition boosts Q1 output
Vancouver-based Orla Mining produced nearly 48 000 oz of gold in the first quarter of 2025, bolstered by its recent acquisition of the Musselwhite mine in Canada, and said it remains on track to meet its yearly guidance of between 110 000 oz and 120 000 oz from its flagship Camino Rojo operation in Mexico.
The company, which completed the Musselwhite acquisition from Newmont on February 28, reported total first-quarter gold production of 47 759 oz, including 29 973 oz from Camino Rojo and 17 786 oz from Musselwhite. Operational figures for the latter are from March 1 onwards.
Gold sales for the period totalled 46 356 oz, comprising 30 512 oz from Camino Rojo and 15 845 oz from Musselwhite.
Camino Rojo stacked 1.67-million tonnes of ore at an average grade of 0.78 g/t, with a daily stacking rate of 18 400 t, consistent with its mine plan. The operation mined nearly 1.9-million tonnes of ore and 2.8-million tonnes of waste, yielding a strip ratio of 1.48.
Musselwhite, located in Ontario, milled 104 287 t of ore during March at a head grade of 5.55 g/t gold. Recovery rates of 95.7% resulted in production of 17 786 oz for the month.
Orla will provide updated 2025 guidance, including for Musselwhite, in the second quarter.
As of March 31, the company reported a cash balance of C$184.2-million and total debt of C$450-million, resulting in net debt of C$265.8-million.
Orla is scheduled to release its full first-quarter financial and operating results on May 9.
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