2024-07-12 16:30:01 ET
Summary
- Orla Mining Ltd. reported strong Q2 production and sales and is tracking well ahead of its FY2024 guidance midpoint.
- Despite permitting delays in Mexico, Orla is generating significant free cash flow and now has nearly ~$230 million in liquidity, positioning it well for future growth.
- In this update, we'll dig into the preliminary Q2 results, recent developments, and whether the stock has moved into a low-risk buy zone yet.
We're just a couple of weeks away from the much-awaited start of the Q2 Earnings Season for the Gold Juniors Index ( GDXJ ), and several names have run up sharply ahead of these results. This is because producers will enjoy their highest realized gold price on average in the upcoming Q2 results, with gold averaging $2,340/oz in the quarter, a ~19% increase year-over-year. One of the more recent names to report its results was Orla Mining Ltd. ( ORLA ), a junior producer in Mexico that's done a phenomenal job to date at its Camino Rojo Oxides Mine in Zacatecas, Mexico....
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Orla Mining: Tracking Well Against 2024 Guidance