Ora has benefited significantly from higher gold and copper prices + increase in production. Prior to 2020, production was flat and then it saw a material increase in production that is expected to continue into next year. Of note, 77% of revenue comes from gold assets and 23% from copper.
The company's growth program is also fully funded and it is seeing cash costs decrease YoY. The company's current debt profile, while higher than average shouldn't be much of an issue considering its strong expected growth profile.
I do however, question just how much it will grow. The company doesn't list guidance and in Q1 of 2021 - production actually dipped over Q1 of 2020. Full Q1 results are expected to be released on May 10 and perhaps we will get some insight as to why production dipped.
Of note, its investor website is terrible and not up to date. Not a fan of companies that can't keep basic information up to date which forces investors to go searching deep for things.
Mat