Musselwhite, an underground gold mine in northwestern Ontario, has been operational for over 25 years. It had 1.5 million ounces of proven and probable gold reserves as of Dec. 31, 2023.
For Orla, which currently operates the Camino Rojo mine in Mexico, acquiring Musselwhite is a transformative step. The deal will elevate Orla from a single-asset producer to a multi-asset miner, more than doubling its gold output to 300,000 ounces per year.
This acquisition also boosts Orla’s exposure to record gold prices, which have surged this year due to actions by the US Federal Reserve. Musselwhite is expected to generate more than $150 million in average annual free cash flow over the next six years, the company said.
Eyes on growth
Orla’s growth trajectory doesn’t stop there. Through the development of the South Railroad project in Nevada, the company aims to increase its output to 500,000 ounces per…
