Second Quarter 2024 Highlights
•Second quarter gold production was 33,206 ounces and gold sold was 34,875 ounces (pre-released). Year to date, Camino Rojo has been performing better than plan and, as a result, the Company is increasing full year gold production guidance to 120,000 to 130,000 ounces from its initial guidance of 110,000 to 120,000 ounces.
•Second quarter 2024 all-in sustaining cost1 ("AISC") was $782 per ounce of gold sold, while year to date AISC is $843 per ounce of gold sold. AISC guidance for the full year 2024 has been improved to a range of $800 to $900 per ounce of gold sold from the original guidance of $875 to $975 per ounce.
•Adjusted earnings1 for the second quarter were $23.0 million or $0.07 per share.
•Net income for the second quarter was $24.3 million or $0.08 per share.
•Second quarter operating profit margin2 of 64%, and net profit margin3 of 29%.
•Cash flow from operating activities before changes in non-cash working capital during the second quarter was $53.2 million.
•Exploration and project expenditure1 was $9.7 million during the quarter, of which $3.1 million was capitalized and $6.6 million was expensed.
•As at June 30, 2024, Orla's cash balance was $154.3 million, an increase of $36.2 million over the previous quarter. Net cash1 at the end of the quarter was $76.0 million.
•During the quarter, the Company repaid $10.0 million on its revolving credit facility. Subsequent to quarter end, the Company made a further $20.0 million re-payment reducing the
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