Earnings release
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Orla Mining Reports First Quarter 2021 Results and Provides Camino Rojo Construction Update Construction 22 % Complete VANCOUVER , BC , May 13 , 2021 / CNW / - Orla Mining Ltd. ( TSX : OLA ) ( NYSE : ORLA ) ( " Orla " or the " Company " ) is pleased to provide results for the first quarter ended March 31 , 2021 . Figure 1 : Crusher Erection ( CNW Group / Orla Mining Ltd. ) ( All amounts are in U.S. dollars unless otherwise stated ) FIRST QUARTER 2021 HIGHLIGHTS : • 430,000 person - hours worked at the Camino Rojo Oxide Project ( the " Project " or " Camino Rojo " ) with zero lost time incidents ( " LTI " ) since the start of construction . There are currently 826 workers at the Project as part of construction activities with 15 % from the local communities , 30 % from the State of Zacatecas , and 55 % from other states within Mexico . • Continued development of Camino Rojo with activities now focused on earth moving , concrete pouring , and structural and mechanical installations in the areas of the crushing circuit , Merrill- Crowe plant , heap leach and process pond , camp , and administration offices . • Camino Rojo engineering is 95 % complete and construction is 22 % complete . Project capital committed totalled $ 104.6 million at the end of the first quarter and $ 107.0 million on April 30 , 2021. Contracts and purchases awarded to date have been in line with estimated capital costs . • Camino Rojo capital expenditures totalled $ 15.3 million in the first quarter and total $ 64.3 million for the Project to date , on April 30 , 2021 , out of a total project capital expenditure estimate of $ 134.1 million . Exploration and evaluation expenditures totalled $ 4.9 million for the quarter . • Net loss of $ 10.8 million or $ 0.05 per share for the quarter . • Cash of $ 31.2 million at March 31 , 2021 and $ 71.7 million on April 30 , 2021 . • Payment of $ 25.0 million to Fresnillo plc ( " Fresnillo " ) in the first quarter , as the first of three staged payments over a three - year period , under the terms of the Layback Agreement .