10:10 AM EST, 03/03/2025 (MT Newswires) -- Orla Mining ( ORLA ) said Monday it has completed the purchase of Musselwhite Gold Mine in Ontario, Canada, from Newmont ( NEM ) for $810 million in cash, with an additional $40 million contingent consideration tied to gold prices.

The $810 million upfront payment was financed through a combination of debt, gold prepayment, new convertible notes, and available cash, the company said.

Separately, Newmont ( NEM ) said it has also completed the sale of its Eleonore operation in Canada and Cripple Creek & Victor operation in Colorado, and that it has received $1.7 billion in total after-tax cash proceeds from the sale of the three assets.

Shares of Orla Mining ( ORLA ) and Newmont ( NEM ) were up more than 2% and 1%, respectively, in recent Monday trading.

Price: 7.19, Change: +0.18, Percent Change: +2.50