Orla Mining Ltd. (NYSE:ORLA) Q4 2023 Earnings Conference Call March 20, 2024 10:00 AM ET

Company Participants

Andrew Bradbury - Vice President, Investor Relations & Corporate Development
Jason Simpson - President & Chief Executive Officer
Andrew Cormier - Chief Operating Officer
Etienne Morin - Chief Financial Officer
Sylvain Guerard - Senior Vice President, Exploration
Chafika Eddine - Chief Sustainability Officer

Conference Call Participants

Ovais Habib - Scotiabank
Andrew Mikitchook - BMO Capital Markets
Arun Lamba - TD Securities
Stephen Soock - Stifel

Operator

Good morning, ladies and gentlemen, and welcome to Orla Mining's Conference Call for the Fourth Quarter and Year-End 2023 Results. My name is Sarah, and I will 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 would like to turn the meeting over to Andrew Bradbury, Vice President, Investor Relations and Corporate Development. Please go ahead, Mr. Bradbury.

Andrew Bradbury

Thank you, operator, and welcome to Orla's fourth quarter and year-end 2023 results conference call.

We will be making forward-looking statements during today's call, and I direct you to the first and second slide of this 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.

The Orla executive team is on the call this morning, and I will now pass the call to Jason Simpson, President and CEO, who will walk you through our fourth quarter and 2023 highlights.

Jason Simpson

Thanks, Andrew.

Our fourth quarter highlights include:

Continued strong performance at Camino Rojo on safety, environmental management, operations and costs. As a result, we exceeded our increased production guidance and achieved the reduced annual all-in sustaining cost guidance.

The low-cost and consistent operation of Camino Rojo generated industry-leading margins and cash flows strengthened our balance sheet and Orla is now in a net cash position.

We are actively advancing our exploration and development portfolio in Mexico and Nevada, and you will have seen positive drill results released throughout the first quarter from our 2023 campaign.

Exploration is a key component of our growth, and Sylvain Guerard, our Senior Vice President, Exploration, will walk you through some of the team's results. Andrew Cormier, our Chief Operating Officer, will update you on the permitting work in Nevada.