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(Kitco News) - Orla Mining (TSX: OLA) (NYSE: ORLA) yesterday reported gold production of 29,058 ounces in Q2 2023, with year to date production of 54,968 ounces.
The company said it remains on track to meet 2023 annual gold production guidance of 100,000 to 110,000 ounces.
The company’s all-in sustaining costs (AISC) were $698 per ounce of gold sold during the second quarter 2023, and year to date AISC was $696 per ounce of gold.
Importantly, Orla said that its AISC guidance for the full year 2023 has been reduced to a range of $700 to $800 per ounce of gold sold from the original guidance of $750 to $850 per ounce.
The company also reported net income for the second quarter of $12.8 million or $0.04 per share which included $7.2 million in expensed exploration and development costs.
“Orla endeavours to be a predictable and consistent gold producer and cash generator. Camino Rojo’s operational performance supports these objectives and we are on target to deliver on our 2023 plan,” said president and CEO Jason Simpson. “Our exploration efforts also continue to generate positive returns and we remain committed to a systematic approach to unlocking value.”
Orla has three material gold projects, including Camino Rojo, located in Mexico; South Railroad, located in the United States; and Cerro Quema, located in Panama. Orla is operating the Camino Rojo oxide gold mine, a gold and silver open-pit and heap leach mine.
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