Orla Mining Ltd.’s $150 Million Secured Credit Facility

Cassels acted for Orla Mining Ltd. on the refinancing. Morgan & Morgan Legal advised Orla Mining Ltd., as borrower, and Minera Cerro Quema, S.A., as guarantor.

On April 28, 2022, Orla Mining Ltd. refinanced its US$125 million project finance facility with a new US$150 million secured credit facility.

The credit facility includes a 5-year US$100 million term facility and a 3-year US$50 million revolving facility. The proceeds from the credit facility were used to repay the existing project finance facility, with the balance of the revolving facility available for general corporate purposes and working capital.

Orla Mining Ltd. (TSE:OLA) (NYSE: ORLA) is developing the Camino Rojo Oxide Gold Project, an advanced gold and silver open-pit and heap leach project, located in Zacatecas State, Central Mexico.

The Cassels’ team was led by David Budd (Picture), assisted by Jennifer Wasylyk, Carla Potter, Danijel Augustinovic and Margaret MacKinnon.

The Morgan & Morgan team was led by Partner Roberto Vidal.

Involved fees earner: Danijel Augustinovic – Cassels Brock & Blackwell LLP; David Budd – Cassels Brock & Blackwell LLP; Carla Potter – Cassels Brock & Blackwell LLP; Jennifer Wasylyk – Cassels Brock & Blackwell LLP; Roberto Vidal – Morgan & Morgan;

Law Firms: Cassels Brock & Blackwell LLP; Morgan & Morgan;

Clients: Minera Cerro Quema SA; Orla Mining Ltd;

Sonia Carcano

Author: Sonia Carcano