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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Name of Issuer)

(Title of Class of Securities)

(CUSIP Number)

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13D/A 0001104659-25-021884 0000915191 XXXXXXXX LIVE 1 COMMON STOCK, NO PAR VALUE 12/04/2025 false 0001680056 68634K106 ORLA MINING LTD. 1075 WEST GEORGIA STREET SUITE 1010 VANCOUVER A1 V6E 3C9 Sean J. Skiffington 647.280.5756 Allen Overy Shearman Sterling US LLP Commerce Court West, 199 Bay Street Toronto A6 M5L 1E8 Ryan E. Robski 416.302.1391 Allen Overy Shearman Sterling US LLP Commerce Court West, 199 Bay Street Toronto A6 M5L 1E8 0000938869 N V. PREM WATSA b OO N Z4 0.00 78074283.00 0.00 78074283.00 78074283.00 N 20.3 IN Y THE SECOND 810 HOLDCO LTD. b OO N Z4 0.00 78074283.00 0.00 78074283.00 78074283.00 N 20.3 CO Y THE SECOND 1109 HOLDCO LTD. b OO N Z4 0.00 78074283.00 0.00 78074283.00 78074283.00 N 20.3 CO 0001217251 N THE SIXTY TWO INVESTMENT COMPANY LIMITED b OO N A1 0.00 78074283.00 0.00 78074283.00 78074283.00 N 20.3 CO Y 12002574 CANADA INC. b OO N Z4 0.00 78074283.00 0.00 78074283.00 78074283.00 N 20.3 CO 0000915191 N FAIRFAX FINANCIAL HOLDINGS LIMITED b OO N Z4 0.00 78074283.00 0.00 78074283.00 78074283.00 N 20.3 CO 0001275984 N FFHL GROUP LTD. b OO N Z4 0.00 27300549.00 0.00 27300549.00 27300549.00 N 7.1 CO Y FAIRFAX (US) INC. b OO N DE 0.00 27300549.00 0.00 27300549.00 27300549.00 N 7.1 CO Y ODYSSEY GROUP HOLDINGS, INC. b OO N DE 0.00 13473106.00 0.00 13473106.00 13473106.00 N 3.5 CO 0001243947 N ODYSSEY REINSURANCE COMPANY b OO N CT 0.00 13473106.00 0.00 13473106.00 13473106.00 N 3.5 CO 0001168338 N CRUM & FORSTER HOLDINGS CORP. b OO N DE 0.00 13827443.00 0.00 13827443.00 13827443.00 N 3.6 CO Y UNITED STATES FIRE INSURANCE COMPANY b OO N DE 0.00 13827443.00 0.00 13827443.00 13827443.00 N 3.6 CO 0001276001 N THE NORTH RIVER INSURANCE COMPANY b OO N NJ 0.00 2942481.00 0.00 2942481.00 2942481.00 N 0.8 CO 0001368588 N NORTHBRIDGE FINANCIAL CORPORATION b OO N Z4 0.00 0.00 0.00 0.00 0.00 N 0.00 CO 0001276008 N NORTHBRIDGE GENERAL INSURANCE CORPORATION b OO N Z4 0.00 0.00 0.00 0.00 0.00 N 0.0 CO 0001432008 N FEDERATED INSURANCE COMPANY OF CANADA b OO N Z4 0.00 0.00 0.00 0.00 0.00 N 0.0 CO Y CRC REINSURANCE LIMITED b OO N C8 0.00 0.00 0.00 0.00 0.00 N 0.0 CO Y 1102952 B.C. UNLIMITED LIABILITY COMPANY b OO N A1 0.00 50773734.00 0.00 50773734.00 50773734.00 N 13.2 CO Y ALLIED WORLD ASSURANCE COMPANY HOLDINGS, LTD b OO N D0 0.00 50773734.00 0.00 50773734.00 50773734.00 N 13.2 CO Y ALLIED WORLD ASSURANCE COMPANY HOLDINGS I, LTD b OO N D0 0.00 50773734.00 0.00 50773734.00 50773734.00 N 13.2 CO Y ALLIED WORLD ASSURANCE COMPANY, LTD b OO N D0 0.00 50773734.00 0.00 50773734.00 50773734.00 N 13.2 CO Y ALLIED WORLD ASSURANCE HOLDINGS (IRELAND) LTD b OO N D0 0.00 50773734.00 0.00 50773734.00 50773734.00 N 13.2 CO Y ALLIED WORLD ASSURANCE HOLDINGS (U.S.) INC. b OO N D0 0.00 50773734.00 0.00 50773734.00 50773734.00 N 13.2 CO Y ALLIED WORLD INSURANCE COMPANY b OO N NH 0.00 49357124.00 0.00 49357124.00 49357124.00 N 12.9 CO Y ALLIED WORLD ASSURANCE COMPANY (U.S.) INC. b OO N DE 0.00 2125000.00 0.00 2125000.00 2125000.00 N 0.6 CO Y AW UNDERWRITERS INC. b OO N DE 0.00 16086599.00 0.00 16086599.00 16086599.00 N 4.2 CO Y ALLIED WORLD SPECIALTY INSURANCE COMPANY b OO N DE 0.00 16086599.00 0.00 16086599.00 16086599.00 N 4.2 CO Y ALLIED WORLD SURPLUS LINES INSURANCE COMPANY b OO N AR 0.00 1880656.00 0.00 1880656.00 1880656.00 N 0.5 CO Y ALLIED WORLD NATIONAL ASSURANCE COMPANY b OO N NH 0.00 1416610.00 0.00 1416610.00 1416610.00 N 0.4 CO COMMON STOCK, NO PAR VALUE ORLA MINING LTD. 1075 WEST GEORGIA STREET SUITE 1010 VANCOUVER A1 V6E 3C9 Pursuant to Rule 13d-2 promulgated under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), this Amendment No. 1 to Schedule 13D (this "Amendment") amends the statement on Schedule 13D filed with the United States Securities and Exchange Commission (the "SEC") on March 7, 2025 (as amended and supplemented prior to the date hereof, the "Original Schedule 13D" and, as amended and supplemented by this Amendment, the "Schedule 13D") by Fairfax Financial Holdings Limited and certain of its affiliates relating to the common shares, no par value ("Shares"), of Orla Mining Ltd. ("Orla"). The following amendments to Items 2, 4, 5 and 7 of the Original Schedule 13D are hereby made: V. PREM WATSA THE SECOND 810 HOLDCO LTD. THE SECOND 1109 HOLDCO LTD. THE SIXTY TWO INVESTMENT COMPANY LIMITED 12002574 CANADA INC. FAIRFAX FINANCIAL HOLDINGS LIMITED FFHL GROUP LTD. FAIRFAX (US) INC. ODYSSEY GROUP HOLDINGS, INC. ODYSSEY REINSURANCE COMPANY CRUM & FORSTER HOLDINGS CORP. UNITED STATES FIRE INSURANCE COMPANY THE NORTH RIVER INSURANCE COMPANY NORTHBRIDGE FINANCIAL CORPORATION NORTHBRIDGE GENERAL INSURANCE CORPORATION FEDERATED INSURANCE COMPANY OF CANADA CRC REINSURANCE LIMITED 1102952 B.C. UNLIMITED LIABILITY COMPANY ALLIED WORLD ASSURANCE COMPANY HOLDINGS, LTD ALLIED WORLD ASSURANCE COMPANY HOLDINGS I, LTD ALLIED WORLD ASSURANCE COMPANY, LTD ALLIED WORLD ASSURANCE HOLDINGS (IRELAND) LTD ALLIED WORLD ASSURANCE HOLDINGS (U.S.) INC. ALLIED WORLD INSURANCE COMPANY ALLIED WORLD ASSURANCE COMPANY (U.S.) INC. AW UNDERWRITERS INC. ALLIED WORLD SPECIALTY INSURANCE COMPANY ALLIED WORLD SURPLUS LINES INSURANCE COMPANY ALLIED WORLD NATIONAL ASSURANCE COMPANY 95 Wellington Street West, Suite 800, Toronto, Ontario, Canada M5J 2N7 95 Wellington Street West, Suite 802, Toronto, Ontario, Canada M5J 2N7 95 Wellington Street West, Suite 802, Toronto, Ontario, Canada M5J 2N7 1600 Cathedral Place, 925 West Georgia St., Vancouver, British Columbia, Canada V6C 3L2 95 Wellington Street West, Suite 800, Toronto, Ontario, Canada M5J 2N7 95 Wellington Street West, Suite 800, Toronto, Ontario, Canada M5J 2N7 95 Wellington Street West, Suite 800, Toronto, Ontario, Canada M5J 2N7 401 East Corporate Drive, Suite 200, Lewisville, Texas, 75057, USA 300 First Stamford Place, Stamford, Connecticut, USA 06902 300 First Stamford Place, Stamford, Connecticut, USA 06902 1209 Orange Street, Wilmington, Delaware, USA 19801 1209 Orange Street, Wilmington, Delaware, USA 19801 305 Madison Avenue, Morristown, New Jersey, USA, 07962 105 Adelaide Street West, 7th Floor, Toronto, Ontario, Canada M5H 1P9 105 Adelaide Street West, 7th Floor, Toronto, Ontario, Canada M5H 1P9 55 Standish Court, Suite 300, Mississauga, Ontario, Canada L5R 4B2 #12 Pine Commercial, The Pine, St Michael, Barbados BB11103 1600-925 West Georgia Street, Vancouver, British Columbia, Canada V6C 3L2 27 Richmond Road, Pembroke, Bermuda HM 08 27 Richmond Road, Pembroke, Bermuda HM 08 27 Richmond Road, Pembroke, Bermuda HM 08 27 Richmond Road, Pembroke, Bermuda HM 08 1209 Orange Street, Wilmington, Delaware, USA 19801 10 Ferry Street, Suite 313, Concord, New Hampshire, USA 03301 251 Little Falls Drive, Wilmington, Delaware, USA 19808 251 Little Falls Drive, Wilmington, Delaware, USA 19808 199 Water Street, 26th Floor, New York, New York 10038 425 West Capitol Avenue, Suite 1800, Little Rock, Arkansas, USA 72201-3525 10 Ferry Street, Suite 313, Concord, New Hampshire, USA 03301 For each of the Reporting Persons, a full response to Item 2(c) Present principal occupation or employment and the name, principal business and address of any corporation or other organization in which such employment is conducted is set forth in Exhibit 99.5 hereto. On December 4, 2025, certain of the Reporting Persons sold an aggregate 25,000,000 Shares of Orla at a price of CDN$17.6435 per Share for aggregate proceeds of approximately CDN $441.1 million. This sale occurred in connection with the rebalancing of investment portfolios of Fairfax. While none of the Reporting Persons has any present plans to sell any further Shares or other securities of Orla, one or more of them could determine, based upon price, market conditions, availability of funds, evaluation of alternative investments and other factors, to sell some or all of such securities. Additionally, one or more entities affiliated with Fairfax, including one or more of the Reporting Persons, may determine to purchase additional securities of Orla in the open market or otherwise, depending on the same set of factors listed above with respect to sales. Based on the most recent information available, the aggregate number and percentage of Shares (the securities identified by Item 1 of this Schedule 13D) that are beneficially owned by each of the Reporting Persons is set forth in boxes 11 and 13 of this Schedule 13D for each of the Reporting Persons, and such information is incorporated herein by reference. The percentage of Shares beneficially owned by each of the Reporting Persons was calculated based on 339,896,220 Shares issued and outstanding as of November 11, 2025, as reported by Orla (and assuming the conversion or exercise, as applicable, of all of the Convertible Notes and the Warrants held by the Reporting Persons into Shares). The numbers of Shares as to which each of the Reporting Persons has sole voting power, shared voting power, sole dispositive power and shared dispositive power is set forth in boxes 7, 8, 9 and 10, respectively, on the second part of the cover page to this Schedule 13D for each of the Reporting Persons, and such information is incorporated herein by reference. To the best knowledge of the Reporting Persons, the persons listed in Exhibit 99.6 hereto beneficially own the amounts of Shares listed therein and have sole voting power and sole dispositive power with respect to such Shares. Except as described in Exhibit 99.7, none of the Reporting Persons, nor, to the best knowledge of the Reporting Persons, any person listed in Exhibit 99.5 for each of the Reporting Persons, beneficially owns, or has acquired or disposed of, any Shares during the last 60 days. No person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of Shares held by the Reporting Persons other than each of the Reporting Persons. Not applicable. Exhibit 99.5 Directors and Officers of the Reporting Persons Exhibit 99.6 Beneficial Ownership by Directors and Officers Exhibit 99.7 Transactions in the Shares of the Issuer by the Reporting Persons During the Last Sixty (60) Days V. PREM WATSA /s/ V. Prem Watsa V. Prem Watsa 12/08/2025 THE SECOND 810 HOLDCO LTD. /s/ V. Prem Watsa V. Prem Watsa, Director 12/08/2025 THE SECOND 1109 HOLDCO LTD. /s/ V. Prem Watsa V. Prem Watsa, President 12/08/2025 THE SIXTY TWO INVESTMENT COMPANY LIMITED /s/ V. Prem Watsa V. Prem Watsa, President 12/08/2025 12002574 CANADA INC. /s/ V. Prem Watsa V. Prem Watsa, President 12/08/2025 FAIRFAX FINANCIAL HOLDINGS LIMITED /s/ Peter Clarke Peter Clarke, President and Chief Operating Officer 12/08/2025 FFHL GROUP LTD. /s/ V. Prem Watsa V. Prem Watsa, President 12/08/2025 FAIRFAX (US) INC. /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 12/08/2025 ODYSSEY GROUP HOLDINGS, INC. /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 12/08/2025 ODYSSEY REINSURANCE COMPANY /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 12/08/2025 CRUM & FORSTER HOLDINGS CORP. /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 12/08/2025 UNITED STATES FIRE INSURANCE COMPANY /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 12/08/2025 THE NORTH RIVER INSURANCE COMPANY /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 12/08/2025 NORTHBRIDGE FINANCIAL CORPORATION /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 12/08/2025 NORTHBRIDGE GENERAL INSURANCE CORPORATION /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 12/08/2025 FEDERATED INSURANCE COMPANY OF CANADA /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 12/08/2025 CRC REINSURANCE LIMITED /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 12/08/2025 1102952 B.C. UNLIMITED LIABILITY COMPANY /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 12/08/2025 ALLIED WORLD ASSURANCE COMPANY HOLDINGS, LTD /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 12/08/2025 ALLIED WORLD ASSURANCE COMPANY HOLDINGS I, LTD /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 12/08/2025 ALLIED WORLD ASSURANCE COMPANY, LTD /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 12/08/2025 ALLIED WORLD ASSURANCE HOLDINGS (IRELAND) LTD /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 12/08/2025 ALLIED WORLD ASSURANCE HOLDINGS (U.S.) INC. /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 12/08/2025 ALLIED WORLD INSURANCE COMPANY /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 12/08/2025 ALLIED WORLD ASSURANCE COMPANY (U.S.) INC. /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 12/08/2025 AW UNDERWRITERS INC. /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 12/08/2025 ALLIED WORLD SPECIALTY INSURANCE COMPANY /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 12/08/2025 ALLIED WORLD SURPLUS LINES INSURANCE COMPANY /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 12/08/2025 ALLIED WORLD NATIONAL ASSURANCE COMPANY /s/ Peter Clarke Peter Clarke, Attorney-In-Fact 12/08/2025 Power of attorney, dated March 9, 2020 (incorporated by reference to Exhibit 8 to the Schedule 13D filed by certain of the Reporting Persons with the SEC on March 9, 2020). Power of attorney, dated June 14, 2021 (incorporated by reference to Exhibit 5 to the Schedule 13D filed by certain of the Reporting Persons with the SEC on June 14, 2021).