Orla Mining Ltd. (NYSE:ORLA) Q3 2023 Earnings Call Transcript November 14, 2023 10:00 AM ET

Company Participants

Jason Simpson - President and Chief Executive Officer

Andrew Cormier - Chief Operating Officer

Etienne Morin - Chief Financial Officer

Chafika Eddine - Chief Sustainability Officer

Sylvain Guerard - Senior Vice President, Exploration

Operator

Good morning, ladies and gentlemen, and welcome to Orla Mining's Conference Call for the Third Quarter 2023 Results. My name is Chris, and I'll be your conference operator today. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. [Operator Instructions] Please be advised that this call is being recorded. I'd like to turn the meeting over to Jason Simpson, President and Chief Executive Officer of Orla Mining. Please go ahead, Mr. Simpson.

Jason Simpson

Thank you, operator, and welcome to Orla's Third 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 of this presentation, which contains important cautionary notes regarding these forward-looking statements. All dollar amounts discussed today will refer to US dollars, unless otherwise indicated.

Our third quarter was highlighted by, an environmental management, including a safety award, Andrew will highlight, continued operational and cost performance at Camino Rojo. As a result of our continued outperformance at Camino Rojo, we have increased our 2023 production guidance, a testament to our team's continued execution as well as the strength of the asset.

Because of our cost management and the strength of operations, we continue to generate strong cash flow and strengthen our balance sheet. Our net balance at quarter end stood at $3 million. I'm also pleased to communicate that we renewed our collective bargaining agreement with our team in Mexico. A vote of confidence for the strength of our relationship with this team. We continue to systematically work through our extensive exploration program with a focus on Mexico and Nevada, which will support our growth ambitions.

The ongoing events in Panama are something I'll discuss on this call. We have the full executive team on the call to provide specific updates. Over to Andrew Cormier, our Chief Operating Officer, for the Q3 operational update.

Andrew Cormier

Thank you, Jason. The third quarter was marked by continued strong mining and processing performances at Camino Rojo. We did this while maintaining the health and safety of our team. This year, Camino Rojo was awarded the 2022 Silver Helmet award for open pit mining by the Mexico Mining Chamber, CANIMEX. This award is the highest award in the Mexican mining industry recognizing companies and workers for safety at their operations.