Orla ups 2025 guidance following Musselwhite addition
Gold miner Orla Mining has increased its full-year production and cost guidance to reflect the contribution of the Musselwhite mine in Canada, which it acquired from Newmont earlier this year.
The updated 2025 outlook now includes consolidated production of 280 000 oz to 300 000 oz of gold and an all-in sustaining cost (AISC) of $1 300/oz to $1 500/oz.
For the first quarter, Orla delivered a record 47 759 oz of gold, including initial production from Musselwhite. Gold sold totalled 46 356 oz, also a quarterly record. These results put the company on track to meet its full-year guidance, Orla said.
AISC for the quarter came in at $845/oz, with cash costs of $597/oz – figures which reflect only the Camino Rojo operation in Mexico, as Musselwhite’s costs will be incorporated from the second quarter onwards.
"We are proud of the continued consistency from our team in Mexico where the Camino Rojo mine remains a strong cash flow generator," said president and CEO Jason Simpson. "This quarter also marked a major milestone with the closing of the Musselwhite acquisition, expanding our presence in Canada, and increasing our annual gold production guidance."
Orla closed the acquisition of Musselwhite on February 28 for $810-million in cash and contingent payments of $40-million. In March, Musselwhite produced about 18 000 oz of gold, with ore milled at a head grade of 5.55 g/t and gold recoveries of 95.7%.
The company will now focus on integrating Musselwhite and rolling out a comprehensive exploration programme to expand its resource base and support future growth beyond 2030. Meanwhile, work also continues to advance the South Railroad project in Nevada.
“Our next step of growth will be driven by our US team, where we continue to advance the South Railroad project through permitting and toward construction," said Simpson.
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