Q4 2024 Orla Mining Ltd Earnings Call Transcript
Key Points
- Orla Mining Ltd (ORLA) achieved record gold production of 137,000 ounces in 2024, meeting their increased guidance range.
- The acquisition of the Musselwhite Mine is expected to more than double Orla's production profile.
- The company reported strong financial performance with a robust operating margin of 64% and net earnings of $26.1 million for the quarter.
- Orla Mining Ltd (ORLA) maintained low all-in sustaining costs of $805 per ounce for the full year, making Camino Rojo one of the lowest-cost gold mines globally.
- Significant progress was made in exploration activities, with successful drill results in Mexico and Nevada, supporting future resource growth.
- The company's current outstanding debt balance is $450 million, with net debt of approximately $260 million, following the Musselwhite acquisition.
- Permitting processes in Mexico and Nevada are ongoing, with potential delays impacting project timelines.
- The integration of the Musselwhite Mine may present operational challenges as Orla Mining Ltd (ORLA) works to realize cost savings and production efficiencies.
- The gold prepay facility requires Orla Mining Ltd (ORLA) to deliver approximately 145,000 ounces over three years, which could impact cash flow.
- Exploration and project costs were significant, totaling $47.9 million for the year, which could affect short-term financial flexibility.
Good morning, ladies and gentlemen, and welcome to Orla Mining's conference call for the fourth-quarter and year-end 2024 results. My name is Abby, and I will be your conference operator today. (Operator Instructions) Please be advised that this call is being recorded.
And 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 fourth-quarter and year-end 2024 results conference call. We will be making forward-looking statements during today's call. And I would 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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