The following is a summary of the Orla Mining Ltd. (ORLA) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Orla Mining Ltd. reported record revenue of $99 million in Q3 2024.

• All-in sustaining costs were reported at $720 per ounce, contributing to robust operating margins of 65% and strong cash flow.

• Net earnings for the quarter were $21.1 million, with adjusted net earnings of $19.2 million.

• The company generated a record $45 million in free cash flow during the quarter.

Business Progress:

• Achieved record gold production and became debt-free, enhancing financial stability.

• Engaged in active construction planning for the South Railroad project and continued exploration at the South Carlin complex.

• Advanced permitting processes in Mexico and Nevada, expecting to finalize all supplemental environmental reports by year-end and target construction commencement in 2026 for the South Railroad project.

• Completed the construction of Phase 2 of the heap leach pad.

Opportunities:

• Growth investments in the South Railroad project and exploration activities in Nevada designed to enhance project value and extend mine life.

• Positive interactions with new administration and government stakeholders could facilitate permitting processes.

Risks:

• The dependency on obtaining permits in a timely manner as per the projected schedules for ongoing and future projects.

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