Vancouver’s Orla Mining is delivering as originally advertised when it comes to investing and rebuilding in its latest catch at the Musselwhite Mine.
The upstart mid-tier gold company is investing $115 million into the remote northwestern Ontario underground operation to plunk into mine development, procure new equipment, and launch an aggressive round of exploration drilling this year.
In a May 12 webcall of its first-quarter results, company president-CEO Jason Simpson said they believe this expenditure is what it takes to drive Musselwhite to the “next level” by way of future production and to extend the mine’s operating life.
The fly-in, fly-out mine is roughly 500 kilometres north of Thunder Bay. Musselwhite has been operating for more than 25 years, producing close to 6 million ounces of gold in that span.
When Orla announced last November it was acquiring Musselwhite from Newmont, management promised it would invest in upgrading the mine and would keep its operations team together. The $850-million deal was finally closed Feb. 28.
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