Orla Mining Ltd. (NYSE:ORLA) Q3 2022 Earnings Conference Call November 11, 2022 10:00 AM ET

Company Participants

Andrew Bradbury - Vice President of Investor Relations

Jason Simpson - President & Chief Executive Officer

Andrew Cormier - Chief Operating Officer

Etienne Morin - Chief Financial Officer

Conference Call Participants

Kulvir Gill - TD Securities

Operator

Good morning, ladies and gentlemen, and welcome to Orla Mining's Conference Call for the Third Quarter 2022. My name is Rob and I will be your conference operator today. [Operator Instructions] Please be advised that this call is being recorded.

I would now 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 to Orla's Third Quarter 2022 Results Conference Call on what is remembered today. During today's call, we will be making forward-looking statements. I would direct you to the first and second slides of 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 executive team, including President and Chief Executive Officer, Jason Simpson. Jason, over to you.

Jason Simpson

Thanks, Andrew. Today, as we should every day, remember those who volunteered, sacrificed, served, fought and died for our freedom. Orla's team will be observing a moment of silence at 11 a.m. Eastern Time.

Orla is a unique combination of quality assets, team and partners. And today, we will walk you through another strong quarter delivered by our team. First, the people at Orla Mining have kept each other safe and healthy for another quarter. That is what I am most proud of. They continue to be diligent against the COVID-19 virus and our new mine in Mexico just surpassed 1 million hours without a lost time injury.

Here are the other key events for the third quarter. Operations at the Camino Rojo mine continued to perform well. This start-up performance has enabled us to increase our 2022 annual production guidance to between 100,000 and 110,000 ounces. We also continue to manage costs in this inflationary environment and Camino Rojo mine remains an industry cost leader. This continued operating strength is bolstering cash generation and our balance sheet. This foundation will provide financial flexibility as we advance our pipeline.

During the quarter, we also completed the acquisition of Gold Standard Ventures. The owner of the South Railroad heap leach project located on the Carlin trend as well as the Lewis property on the Battle Mountain trend in Nevada. This acquisition diversifies and strengthens our portfolio. We are pleased to welcome the Gold Standard team and we continue to advance the permitting toward another producing mine.