Orla Mining (TSX: OLA) this morning reported Q3 gold production of 79,645 ounces of gold, with the quarter representing a new record for the company in terms of ounces produced.
The production figure follows 77,811 ounces of gold produced in the second quarter, with year to date production now standing at 205,215 ounces of gold. Orla meanwhile remains on track to achieve updated guidance of 265,000 to 285,000 ounces, which was reduced back in August from the prior 280,000 to 300,000 ounce estimate following a pit wall event at Camino Rojo.
Gold sales for the quarter meanwhile came in at 78,857 ounces, which grows to 204,124 ounces on a year to date basis.
Sponsored · Mercado Minerals
Broken out, production from Musselwhite totaled 57,586 ounces at average grades of 5.87 g/t gold and recoveries of 95.3%, while production from Camino Rojo came in at 22,059 ounces, at average grades of 0.40 g/t.
Orla is said to have ended the quarter with $326.9 million in cash and $420.0 million in debt, resulting in a net debt position of $93.1 million as of September 30. Comparatively, net debt as of June 30 stood at $204.6 million.
Orla Mining last traded at $15.42 on the TSX.
Information for this story was found via the sources mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
