Orla Mining Reports First Quarter Revenue of $378.9 Million
The gold producer ended the first quarter with $427.3 million in cash and a net cash position of $96.0 million
Orla Mining Ltd. (ORLA), a gold and silver producer, reported revenue of $378.9 million for the first quarter ended March 31, 2026. The company produced 81,206 ounces of gold during the period and sold 81,540 ounces.
Net income for the first quarter was $75.4 million, or 0.22 a share. Adjusted earnings reached $134.7 million, or 0.39 a share. Cash flow from operating activities before changes in non-cash working capital was $103.5 million. The company reported an all-in sustaining cost of $1,668 per ounce of gold sold.
Orla spent $36.1 million on exploration and projects during the quarter. Of that total, $30.1 million was capitalized and $6.0 million was expensed. The company said it remains on track to meet its full year consolidated gold production guidance of 340,000 to 360,000 ounces and its full year all-in sustaining cost guidance range of $1,550 to $1,750 per ounce.
The company advanced its South Railroad Project toward construction after an updated Feasibility Study showed a $1.7 billion NPV (5%) and 95% IRR at $4,500/oz gold. Orla approved immediate spending on procurement and engineering to support a construction start in mid-2026 for its third operating mine.
At the Camino Rojo mine in Mexico, the company received a federal environmental permit authorizing an open pit expansion and the construction of an underground exploration decline. This follows a February 2026 Preliminary Economic Assessment for a standalone underground operation intended to transition the site from open pit oxide mining to a larger-scale underground sulphide operation.
Drilling at the Musselwhite mine confirmed high-grade mineralization extending over two kilometres down-plunge across two new stacked zones.