'This predictable cycle of investors returning' — Orla spends $850 million on Ontario gold mine
Orla chief executive Jason Simpson said he thinks investors are still overlooking the gold mining industry in favour of the returns being generated by Big Tech and other sectors, but he thinks gold miners are on the precipice of an inflow of investment given current gold prices.
Orla Mining Shares Rise After Agreeing to Acquire Gold Mine in Ontario
Shares of Orla Mining jumped after it said it will buy a gold mine in Ontario from Newmont for up to $850 million, setting the stage for nearly double the gold output. Shares recently traded 9.9% higher at 6.10 Canadian dollars ($4.33). The stock is up almost 40% this year.
Orla Mining to buy Newmont’s gold mine in Ontario in US$850-million deal
Orla Mining OLA-T +3.35% will buy the Musselwhite Gold Mine in Ontario from Newmont N/A in a deal valued at $850-million that will help more than double its production of the precious metal, the Canadian miner said on Monday.
This acquisition is set to significantly expand Orla's gold production capabilities and enhance its free cash flow.
MT Newswires on MSN5h
Newmont Selling Canadian Gold Mine to Orla Mining For Up To $850 MillionCanadian miner Orla Mining (ORLA) agreed to buy the Musselwhite Gold Mine in Ontario from Newmont Corp. (NEM) for up to $850 million, a deal that would more than double Orla's annual gold production ...
Newmont agrees to sell Musselwhite mine in Ontario for up to $850M to Orla Mining, as part of its asset divestment strategy.
Vancouver-based Orla has agreed to pay US$810-million in cash to Newmont and up to US$40-million more contingent on gold ...
Canada’s Orla Mining (TSX: OLA) is buying Newmont’s (NYSE: NEM) Musselwhite gold mine in Ontario for $850 million, enabling ...
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