What caused ORLA's Q4 earnings to miss forecasts?

Orla Mining's Q4 earnings missed forecasts due to lower-than-expected revenue, which was partially offset by higher-than-expected gold production and lower costs.

1. **Revenue Shortfall**: Orla Mining reported revenue of $93 million for Q4 2024, which was below the forecasted $103.07 million. This shortfall can be attributed to operational challenges and market conditions affecting the sales of gold.
2. **Gold Production and Costs**: Despite the revenue miss, Orla Mining achieved record gold production of 137,000 ounces for the year, meeting its guidance range. The company also maintained low all-in sustaining costs of $805 per ounce for the full year, which is a testament to its operational efficiency. However, the cost per ounce for the fourth quarter was higher at $826, which could have impacted the overall profitability of the quarter.
3. **Strategic Initiatives**: Orla Mining's strategic initiatives, such as the acquisition of the Musselwhite Mine, have enhanced the company's growth trajectory and operational footprint. However, these initiatives may have required significant investment, which could have affected the financial results of the quarter.

In conclusion, Orla Mining's Q4 earnings missed forecasts due to a combination of lower revenue and higher costs. Despite these challenges, the company's strong gold production and strategic initiatives position it for future growth.