Analysis of Orla Mining (ORLA:TSX): Analyst Rate a Consensus “Strong Buy”

Analysis of Orla Mining (ORLA:TSX):

Orla Mining: Company Stock Analysis

Camino Rojo Sulphide Drill Results: Positive Outlook

Orla Mining has provided an encouraging update on its exploration activities, specifically highlighting the drill results from its 2023 sulphide program at Camino Rojo. The reported results from the infill drilling during H2/23 include notable intercepts such as 2.22g/t Au over 96.5m and 2.94g/t Au over 65.6m. These results surpass the company’s previous drill reports from June 2023.

OLA:CA Ratings by Stock Target Advisor

The remaining 18 holes in the program are anticipated to be disclosed in the coming weeks. This positive outcome is viewed favorably as it precedes an updated resource assessment. The company’s participation in the Western Institutional Conference further supports this optimism, as detailed in the full takeaways note.

Key Points from the Drill Results:

  • 3.41g/t Au over 36m, including 29.2g/t Au over 3.0m
  • 2.94g/t Au over 66.5m, including 4.98g/t Au over 16.5m
  • 2.44g/t Au over 49.5m, including 4.59g/t Au over 21.0m
  • 2.22g/t Au over 96.5m, including 3.24g/t Au over 33.9m

2024 Plans: Near-Mine Exploration and Sulphide Deposit Evaluation

The focus of the upcoming drill program is anticipated to shift from infill drilling to near-mine exploration. The primary objectives include evaluating the open Camino Rojo deposit and extending drilling beneath the current Sulphide mineral resource. Orla Mining outlines plans for a substantial 30km drill program in 2024 to achieve these exploration goals.

Q4/23 Production and 2024 Guidance: Exceeding Expectations

In a recent announcement, Orla Mining reported robust production figures for 2023, surpassing the increased gold guidance range of 110koz-120koz, with a total production of 121.9koz Au. Q4/23 production stood at 34.5koz, exceeding the estimated 32.4koz. The company demonstrated financial prudence by repaying $25M towards its revolving facility during Q4/23, resulting in a net cash position of $8.2M at the quarter’s end.

Orla’s 2024 guidance of 110koz-120koz for gold production exceeded market estimates of 101koz. However, the AISC (All-In Sustaining Costs) guidance of $875-$975/oz was slightly above the anticipated $828/oz.

Finally, Orla Mining’s positive drill results, coupled with its strong production performance, bode well for the company’s growth trajectory. Investors and stakeholders can look forward to an updated resource assessment and continued exploration activities in 2024.

ORLA Stock Analysis

Orla Mining Ltd Stock Analysis:

  • Target Price: The average analyst target price for Orla Mining Ltd is CAD 6.41 over the next 12 months, based on forecasts from 10 analysts.
  • Analyst Rating: Orla Mining Ltd holds an average analyst rating of “Strong Buy,” suggesting a positive outlook on the stock.
  • Stock Analysis: Stock Target Advisor’s analysis of Orla Mining Ltd indicates a “Slightly Bullish” stance. This is derived from 8 positive signals and 5 negative signals identified by their analysis.
  • Current Stock Price: As of the last closing, Orla Mining Ltd’s stock price stood at CAD 4.49.
  • Stock Performance:
    • Over the past week, the stock price has increased by +6.15%.
    • Over the past month, there was a slight decrease of -0.22%.
    • Over the last year, Orla Mining Ltd’s stock price has decreased by -16.07%.

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