Orla Mining Ltd. (NYSE:ORLA) Q1 2023 Earnings Conference Call May 12, 2023 10:00 AM ET

Company Participants

Andrew Bradbury - VP of IR

Jason Simpson - President and CEO

Andrew Cormier - COO

Etienne Morin - CFO

Conference Call Participants

Arun Lamba - TD Securities

Andrew Mikitchook - BMO

Operator

Good morning ladies and gentlemen. And welcome to Orla Mining's Conference Call for the First Quarter 2023 results. My name is Emma and I will be your conference operator today. [Operator Instructions]. Please be advised that this call is being recorded.

I would like to turn the meeting over to Andrew Bradbury, Vice President of Investor Relations and Corporate Development for Orla Mining. Please go ahead, Mr. Bradbury.

Andrew Bradbury

Thank you, operator. And welcome everyone to Orla’s first quarter 2023 results conference call. We will be making forward-looking statements during today's call and I direct you to the first and second slides in the presentation which contains important cautionary notes regarding these forward-looking statements. All dollar amounts discussed today will refer to U.S. dollars, unless otherwise indicated. On the call this morning is Orla’s full executive team.

I'll now pass the call over to President and Chief Executive Officer Jason Simpson.

Jason Simpson

Thanks Andrew. Our first quarter was highlighted by first, our efforts in sustainability which underpins all of our activities. This includes strong health and safety performance, sound environmental management and creating value for our stakeholders. We had another consistent operating quarter at Camino Rojo processing above nameplate capacity. With one quarter completed, we are on track to meet gold production and all in sustaining costs guidance for 2023.

Also, our balance sheet continues to strengthen and was improved even further in May when Agnico Eagle exercised their top upright with a CAD25 million Canadian dollar investment in Orla.

Thank you to Agnico, who continues to support our company. Andrew Cormier, our Chief Operating Officer, will provide a summary of the quarterly operating results. And Etienne Morin, our Chief Financial Officer will provide an update on the financial details.

Over to you Andrew.

Andrew Cormier

As always we lead with safety and Camino Rojo has maintained a strong safety culture as we enter our second full year of operations. During the quarter, site activities continued to focus on optimizing the mining, crushing, stacking and process plant operation. For example, our maintenance teams have been building up our preventative maintenance program to identify opportunities to further reduce our operating costs and increase our equipment operating time.