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Orvana Minerals Corp T.ORV

Alternate Symbol(s):  ORVMF

Orvana Minerals Corp. is a Canada-based multi-mine gold-copper-silver company. The Company is involved in the evaluation, development and mining of base metal deposits. The Company owns and operates El Valle Mine and Carles Mine, which is situated in Asturias, Northern Spain (collectively El Valle) and is managed by its wholly owned subsidiary, Orovalle Minerals S.L. (Orovalle). In addition to El Valle, it owns certain mineral rights located in the region of Asturias. It also owns the Don Mario Operations (Don Mario) in San Jose de Chiquitos, Southeastern Bolivia and is managed by its wholly owned subsidiary, Empresa Minera Paititi S.A. (EMIPA). It consists of around 10 contiguous mineral concessions covering approximately 53,325 hectares (ha). Through its subsidiary Orvana Argentina S.A., the Company holds its 100 % owned Taguas Property, which is situated in the Province of San Juan, Argentina, and consists of approximately 15 mining concessions covering approximately 3,273.87 ha.


TSX:ORV - Post by User

Comment by ganndolph1on Jul 27, 2020 11:05pm
146 Views
Post# 31328481

RE:RE:News Release Out Today

RE:RE:News Release Out TodayBeluga2020,

Orvana's reported average gold grade in fiscal Q3 2020 was 2.43 g/t!

A horrible number not seen at Orovalle since Q1 2017 when the gold grade dropped to 2.23 g/t and quarterly gold production was only 10,123 ounces. During that quarter Carles had just restarted and the oxide ore to skarn ratio dropped to 16 percent of throughput.

2.43 g/t average gold grade implies that oxide ore was approximately 24 percent of the feed in fiscal Q3.   Since there was no mining at Carles, the implication is that Orovalle processed mostly skarn ore during the quarter. The Q2 MD&A mentioned an accumulated skarn ore stockpile that started to be processed in Q2.  If they ran the stockpile through the mill during the Covid lockdown in Spain, then I would expect lower mining costs in fiscal Q3 relative to fiscal Q2.

Add in higher copper and silver by product prices, and IMHO Orvana may well report a profit this quarter.



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