By Adriano Marchese
Fairfax Financial Holdings has increased its stake in Orla Mining by 0.25% for 3.9 million Canadian dollars ($2.9 million).
The Canadian financial holding company said Monday that it has acquired 800,000 common shares of the miner at an average price of C$4.88 apiece.
Shares of Orla have been higher so far in 2023, rising nearly 14% and closing on Friday at C$4.91. The shares are down about 12% over the last 52 weeks.
The acquisition brings its total holdings in the company to about 17.58%.
Earlier on Monday, Orla Mining said it had agreed to acquire all shares of Contact Gold for a total purchase price of $8.1 million, expanding its footprint in Nevada.
Write to Adriano Marchese at adriano.marchese@wsj.com
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