11:28 AM EST, 03/03/2025 (MT Newswires) -- (Updates shares.)

Orla Mining ( ORLA ) said Monday it completed its acquisition of the Musselwhite gold mine in Ontario from Newmont ( NEM ) .

Under the terms, the upfront cash consideration of US$810 million consists of debt, gold prepayment, new convertible notes and cash on hand. The company will also pay a gold-price linked contingent consideration of US$40 million.

"The addition of Musselwhite transforms Orla into a North American-centered, geographically diversified intermediate gold producer with multiple gold-producing assets and a self-funded growth portfolio," chief executive Jason Simpson said.

Orla said the Musselwhite operation will be integrated into Orla through 2025. In the second quarter, the company said it plans to provide updated 2025 guidance to include Musselwhite.

"This important Canadian gold mine also offers growth potential through optimization and mine life extension, something we intend to aggressively pursue," Simpson added.

Orla shares were last seen up $0.23 to $10.36 on the Toronto Stock Exchange.

Price: 10.36, Change: +0.23, Percent Change: +2.27