Year: 2022

“During an important transitional quarter, the Company hit all key milestones including declaring commercial production and ramping up throughput rates,” said Jason Simpson, President and Chief Executive Officer of Orla. “We are looking towards achieving design capacity at Camino Rojo during the second quarter and advancing our exciting growth portfolio.”

“At our Mexican Operations, we set a 2021 objective of replacing the production from the now closed Rosario mine by deploying its underground mining equipment to Zimapan to increase production at Zimapan with no additional capital investment.”

“In the first quarter, we faced a number of obstacles and challenges that were outside of our usual control,” stated Keith Neumeyer, President & CEO. “Not only was Mexico hit hard with the Omicron COVID-19 variant which significantly reduced personnel and production rates across our operations, we experienced increasing inflationary cost pressure across the operating portfolio for reagents and consumables such as diesel, cyanide and grinding media.”

“We recognize that sustainability is imperative for our long-term success, including financial success. This year’s report, ‘Bridge to the Future’ speaks to our ongoing actions to help shape a more inclusive and sustainable tomorrow in which both our business and our stakeholders can prosper.”

Osisko Development Corp. is pleased to report its financial and operating results for the three months ended March 31, 2022.

“We are very pleased with the strong start to the year, highlighted by record revenues and mine operating income,” said David Wolfin, President and CEO.

“We are running a thriving business in an $1,800 per ounce gold price environment and are confident of the resiliency of our assets throughout the precious metal cycle.”

Larry Radford, President & CEO stated: “We were generally in line with our operational budget during the first quarter, which yielded over 55,000 GEOs and $25 million in cash flow. My focus since my appointment has been primarily on the Magino construction project. The mining industry is experiencing extraordinary cost pressures and Magino is no exception.”

“Torex had a solid start to 2022. Reliable production, combined with the stronger gold price and disciplined cost management, resulted in robust revenue and EBITDA generation. With 112,446 ounces of gold produced in the quarter, and quarterly production expected to be higher throughout the remainder of the year, the Company is well positioned to deliver on 2022 operational guidance.”

Luis Marchese, CEO of Sierra Metals, commented, “Following a difficult start to the year, the Company continues on its path towards operational recovery. During the first quarter, lower throughput and grades resulted in a decrease in the production of all metals along with significant increases to cash costs and all-in sustaining costs at both Yauricocha and Bolivar.”