Orla Mining Buys A Producing Asset
Orla Mining (TSX: OLA) has evidently decided they no longer want to be a Mexico-focused single asset producer.
The gold miner this week entered into a transaction with Newmont (TSX: NGT), one of their major shareholders, to acquire the Musselwhite Gold Mine in Ontario for total up front cash consideration of US$810 million.
The purchase, slated to close early next year, is expected to launch Orla into the intermediate producer category, while dramatically altering their mining profile.
Lets dive in.
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