Canadian-based Orla Mining has completed the previously announced acquisition of Gold Standard Ventures by way of court-approved plan of arrangement.
“The closing of this acquisition marks an important milestone in Orla’s journey in becoming a growth-oriented, low-cost, mid-tier gold producer,” said Jason Simpson, president and chief executive officer of Orla Mining.
“We will seek to generate shareholder value through effectively exploring, building and operating our asset base, which now includes the South Railroad project located on the prolific Carlin trend [in Nevada].”
South Railroad is a feasibility-stage, open pit, heap leach project. Orla said it has begun integrating South Railroad into the company’s growth plans with key priorities to include project permitting, review of project schedule including critical path activities, and assessment of current exploration supporting resource expansion.
As part of the transaction, Orla also acquired the Lewis project, a large, strategically located, prospective land package on the Battle Mountain trend in Nevada.
Orla currently owns and operates the Camino Rojo Oxide gold mine in central Mexico, and owns Cerro Quema, a proposed open-pit mine and gold heap leach operation in Panama.
Source: Orla Mining