Orla Mining Reports Strong Q2 Gold Production
Orla Mining (NYSE:ORLA) saw a positive uptick of +2.2% in Wednesday’s trading following the announcement of its second-quarter gold production results at the Camino Rojo oxide mine in Mexico. The company reported an 11% year-over-year increase in gold production, with 33,206 ounces, surpassing analyst expectations of 29.5K ounces as per FactSet.
Operational Highlights
In addition to the impressive gold production figures, Orla Mining disclosed that it mined 1.9 million metric tons of ore during the period and a total of 3.85 million tons of ore in the first half of the year.
Financial Position
The company also provided an update on its financial standing, revealing that as of June 30, it held cash reserves of $154.3 million and total debt of $78.4 million. This translated to a net cash position of $75.9 million for Orla Mining.
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Additional Insight
Investors may view Orla Mining’s strong Q2 performance as a testament to its operational efficiency and potential for continued growth in the gold mining sector. The company’s ability to surpass analyst expectations indicates a well-executed strategy and effective resource management.
