Orla Mining Ltd (TSX:OLA) is a mining and exploration company with significant focus on development of mineral properties.
The company owns gold and silver projects, including Cerro Quema gold project in Panama and Camino Rojo gold and silver project, Mexico.
It was graduated from the Toronto Stock Venture Exchange (TSXV) to Toronto Stock Exchange (TSX) in 2018, while retaining its ticker symbol 'OLA'.
In November 2020, the company received approval for listing of its shares on the New York Stock Exchange American or NYSE American under the trading symbol 'ORLA'.
The mining company has business operations in Canada, Panama, the United States and Mexico.
The Panama-based project, Cerro Quema, located in Los Santos, is 100 per cent owned by Orla Mining Ltd. It is an open-pit mine with a capacity of producing 79,000 ounces of gold, reportedly. The drilling operations at the Cerro Quema Gold commenced in January 2017.
The Panama-based property reportedly has significant copper-gold-sulfide potential. It is located 45 kilometers southwest of Chitre in the Azuero Peninsula.
The project is equipped with year-round access to power, water, paved roads, airport, and highways. The company says the high-quality project shows significant potential future sulfide and oxide mineralization. However, the area surrounding the mine is not densely populated, the company claims.
Kappes, Cassidy & Associates (KCA) conducted a feasibility study for the Cerro Quema Project in 2014. According to the findings, the project consists of two promising deposits: La Pava and Quemita deposits. The pre-feasibility study reportedly declared the project a technically simple open-pit mine with low operating costs and capital expenditure.
The company’s another principal asset includes Mexican-based Camino Rojo project. The open-pit heap leach project reportedly consists of rich-sulfide resources.
The mining firm acquired the Camino Rojo project on November 7, 2017, from Canada-based Goldcorp Inc.
The project is located approximately 50 kilometers to the southeast of Penasquito Mine in the State of Zacatecas. Probable gold mineral reserves at the project stood at 1.6 million ounces as of 2021, the company claims.
The mining firm reportedly increase its gold mineral reserve estimates by 54 per cent at Camino Rojo in 2021, as demonstrated by an updated feasibility study indicating an increase in gold reserves, cash flows and mine life.
As part of a layback agreement in December 2020, the company can expand its operations in Fresnillo Plc's property and mine from the latter's mineral concessions.