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    Andrew Mikitchook

    Managing Director and Senior Analyst at BMO Capital Markets

    Andrew Mikitchook is a Managing Director and Senior Analyst at BMO Capital Markets, specializing in the Basic Materials sector with significant focus on mining and resource companies. He covers firms including Dakota Gold Corp and Ivanhoe Electric, where he has delivered investment calls such as a price target of $9 for Dakota Gold and recommendations that have occasionally yielded triple-digit returns, notably a +204.3% gain on CRDNF stock. Mikitchook’s track record includes a success rate of around 42.86% and an average return of approximately 6.41%, with his analyst career spanning coverage of more than 40 companies since at least 2016. He holds multiple securities analyst credentials, including FINRA registrations and industry licenses, and is recognized for his detailed sector research and quantitative performance.

    Andrew Mikitchook's questions to Orla Mining (ORLA) leadership

    Andrew Mikitchook's questions to Orla Mining (ORLA) leadership • Q1 2025

    Question

    Andrew Mikitchook inquired about the guided sustaining and non-sustaining capital expenditures for the Musselwhite Mine, asking how the $108 million total compares to the $57 million outlined in the 43-101 technical report.

    Answer

    President and CEO Jason Simpson explained that the new guidance reflects an increased investment beyond the reserve-only technical report. He stated this investment is for lateral development, an enhanced mobile fleet, and exploration, representing an improvement designed to extend mine life and potentially expand the production profile.

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    Andrew Mikitchook's questions to Orla Mining (ORLA) leadership • Q1 2024

    Question

    Andrew Mikitchook of BMO Capital Markets sought clarification on the current permitting environment in Mexico, requested more specific timing on key milestones for the Nevada permitting process, and asked about the financial impact of the revised mine stripping plan at Camino Rojo on annual guidance.

    Answer

    President and CEO Jason Simpson confirmed there has been no change in the Mexican permitting environment ahead of the election. For Nevada, he detailed that Orla is progressing through the NEPA process, with a Notice of Intent targeted for late 2024/early 2025 to stay on track for 2027 production. Simpson also clarified that the revised stripping plan at Camino Rojo was anticipated in the annual guidance and therefore should not materially impact the company's all-in sustaining cost (AISC) forecast for the year.

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