Orla Mining Reports Doubling Revenue in Q1 2025 Amid Expansion Efforts

2025-05-13 companies

N/A, Tuesday, 13 May 2025.
Orla Mining’s revenue doubled to $140.7 million in Q1 2025. Despite record gold production from Camino Rojo and initial output from Musselwhite, net losses from acquisition costs were significant.

Solid Performance Amid Acquisition Costs Impact

In the first quarter of 2025, Orla Mining Ltd (TSX: OLA; NYSE: ORLA) reported significant financial outcomes with total revenue reaching $140.7 million, doubling from $67.3 million during the same period in 2024. This impressive leap was a result of increased gold sales volume, which rose by 44.7% to 46,356 ounces, coupled with a substantial rise in the average realized gold price to $2,915 per ounce, compared to $2,059 per ounce in the previous year [1].

Milestone Achievements and Production Insights

Orla Mining achieved record quarterly gold production of 47,759 ounces in Q1 2025, driven by outputs from its Camino Rojo mine and the recently acquired Musselwhite mine, which contributed 17,786 ounces from just one month of production in March 2025 [2]. The strategic acquisition of Musselwhite earlier this year for $810 million, along with contingent payments of $40 million, is expected to boost Orla’s annual gold production guidance, setting targets between 280,000 to 300,000 ounces for the year [3].

Financial Challenges and Strategic Investments

Despite record production, Orla Mining reported a net loss of $69.8 million or $0.22 per share for Q1 2025, primarily attributed to non-cash charges associated with the Musselwhite acquisition. Adjusted earnings reached $38.6 million or $0.12 per share, a sharp increase from the $16.8 million or $0.05 per share in Q1 2024 [4]. The company also outlined a robust capital expenditure plan, projecting $175 million for 2025, which includes $90 million dedicated to sustaining capital expenditures for Musselwhite [5].

Focus on Future Growth and Guidance

Orla Mining’s strategic focus remains on integrating the Musselwhite mine, expanding its resource base, and enhancing operational efficiencies. The company plans to conduct a $25 million exploration drilling program at Musselwhite to extend reserves and ensure sustained production beyond 2030 [6]. The company’s tactics align with its revised all-in sustaining cost (AISC) guidance, ranging between $1,300 to $1,500 per ounce, a reflection of Musselwhite’s higher cost profile [7].

Sources

financial results Orla Mining