Orla Mining positioned for growth with impending Musselwhite acquisition

By Kevin Vincent
Orla Mining Ltd. produced a record 136,748 ounces of gold in 2024, exceeding its initial guidance by 19%. The company now anticipates significant growth with the upcoming acquisition of the Musselwhite Mine, expected to close in Q1 2025.
“The addition of Musselwhite marks a transformative step for Orla, reinforcing our position as a multi-asset gold producer,” said Orla’s CEO. “With Musselwhite’s proven production and exploration potential, this acquisition aligns perfectly with our strategy to expand in top-tier mining jurisdictions.”
Musselwhite, a high-grade underground gold mine situated in the traditional lands of Northern Ontario, is set to complement Orla’s existing portfolio, including the Camino Rojo Oxide Gold Mine in Mexico and the South Railroad Project in Nevada. While 2024 guidance did not account for Musselwhite’s contributions, Orla plans to issue updated forecasts following the transaction’s completion.
Orla’s cash position at year-end was $160.8 million, bolstered by debt elimination through the repayment of a $58.4 million credit facility. This robust financial standing, combined with the acquisition, positions the company for substantial growth in 2025 and beyond.
The Musselwhite Mine is expected to enhance Orla’s production capacity, diversify its asset base, and strengthen its presence in Canada’s gold mining sector.
Tags: Northern Ontario / Deals & Financial / Gold / All Articles