Orla Mining Ltd. (NYSE:ORLA) Q1 2022 Earnings Conference Call May 13, 2022 10:00 AM ET

Company Participants

Andrew Bradbury - Director, Investor Relations

Etienne Morin - Chief Financial Officer

Jason Simpson - President & Chief Executive Officer

Andrew Cormier - Chief Operating Officer

Conference Call Participants

Ovais Habib - Scotiabank

Operator

Good morning, ladies and gentlemen, and welcome to the Orla Mining’s Conference Call for the First Quarter 2022. My name is Brent, and I will be your conference operator today. All lines have been placed on mute to prevent any background noise. After the speaker’s remarks, there will be a question-and-answer session. [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 2022 results conference call. During today's call, we will be making forward-looking statements. I would invite you to review the cautionary language in the first and second slides of today's presentation, which describes some of the risks and uncertainties that may affect Orla’s performance in the future. I'd also like to mention that unless otherwise indicated, all dollar amounts discussed today will refer to US dollars.

Joining me on the call this morning is the full executive team led by Jason Simpson, President and Chief Executive Officer; Etienne Morin, Chief Financial Officer, Andrew Cormier, Chief Operating Officer, Sylvain Guerard, Senior Vice President, Exploration; and Chafika Eddine, Chief Sustainability Officer.

During the quarter, we made the transition from gold developer to gold producer with declaration of commercial production. Annual guidance has been issued and we are well on our way to a successful 2022. Management will walk through the Camino Rojo Oxide operations, our strengthened balance sheet, new project pipeline, and the start of exploration on our large land packages.

And with that, I will turn the call over to Jason Simpson, Orla’s President and CEO.

Jason Simpson

Thanks, Andrew. Orla has had a remarkable start to our year. Construction is complete and we have declared commercial production. Through the construction and commissioning phases, we maintained a strong, health, safety and environmental record. Now in operations, we continue to reinforce these established practices.

Gold production from the Camino Rojo Oxide mine is expected to be 90,000 to 100,000 ounces for the full year 2022. Orla produced just over 23,000 ounces during a ramp up first quarter and we are on track to achieve production guidance. Upon achieving commercial production, we began accounting for all-in sustaining cost, which means we will be reporting from the second quarter onwards.