Section1: Company Overview

Orla Mining Ltd (TSX: OLA) is a mineral exploration company. It is engaged in the acquisition and exploration of mineral properties. The company holds two gold projects: the Camino Rojo gold and silver project in Zacatecas State, Mexico, and the Cerro Quema gold project in Panama. It conducts business activities in the geographic areas of Mexico, Panama, the United States, and Canada. This Report covers the Investment Highlights, Key Financial Metrics, Risks, Valuation, Target Price, and Recommendation on the stock.

1.1 The Key Investment Highlights, and Risks

Section2:  Financial Highlights

 2.1 Key Financial Highlights

Section 3:  Stock Recommendation Summary

3.1 Valuation Methodology

3.2 Price Performance and Stock Recommendation

The stock has witnessed an upside of ~17.11% in 1 month and a downside of ~2.89% over the last 3 months. The stock has a 52-week high and 52-week low of CAD 6.89 and CAD 3.16 respectively and is currently trading below the average of 52-week high-low average providing an opportunity to exit, as the prices are approaching the resistance level.  Orla Mining Ltd Ltd. (TSX: OLA) was last covered in a report dated ‘2^nd June 2023’.

3.3 One-Year Technical Price Chart

One-Year Technical Price Chart (as of July 17, 2023). Source: REFINITIV, Analysis: Kalkine Group

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, and currency as of July 17, 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Disclaimer

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