Orla Mining (ORLA, OLA.TO) has confirmed a total gold production of 32,017 ounces of gold at its flagship Camino Rojo gold project in Mexico. This brought the full-year production to 109,596 ounces which is very close to the highest end of the 100,000-110,000 ounce guidance, which was already raised at the end of Q3. Orla still thinks its full-year AISC will have come in at US$600-700/oz and we will be looking for confirmation in the company’s full-year financial results.
For 2023, Orla expects to keep its production rate pretty stable. It is guiding for a full-year production of 100,000-110,000 ounces of gold at an AISC of US$50-850/oz. This includes about US$6M to be spent on sustaining capex which is approximately US$60/oz. Additionally, Orla plans to spend about US$33M on its exploration activities, including US$10M to be spent in Nevada and it looks like Orla will be pretty active on the Railroad project, right next door to Contact Gold’s (C.V) Pony Creek project. Those exploration programs will likely be kicked off in the second half of the year as Orla will initially focus on confirmation drilling at Camino Rojo as well as a drill-test program to see if any of the regional targets could be worth developing.
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