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Orvana Minerals Corp T.ORV

Alternate Symbol(s):  ORVMF

Orvana Minerals Corp. is a multi-mine gold-copper-silver company. It is involved in the evaluation, development and mining of precious and base metal deposits. Its assets consist of the producing El Valle and Carles gold-copper-silver mines in northern Spain, the Don Mario gold-silver property in Bolivia, and the Taguas property located in Argentina. The El Valle and Carles mines and the El Valle processing plant are a producer of copper concentrate and dore. El Valle is located in Asturias, Northern Spain. The Don Mario Operation is in San Jose de Chiquitos, Southeastern Bolivia. The Don Mario Operation consists of a set of assets that includes Las Tojas orebody, and the previously mined out lower mineralized zone, upper mineralized zone and Cerro Felix mines. The Taguas Property consists of 15 mining concessions over an area of 3,273.87 hectares, held and managed by its subsidiary Orvana Argentina S.A. Taguas is located in the province of San Juan, on the eastern flank of the Andes.


TSX:ORV - Post by User

Bullboard Posts
Comment by bobvee15on Jun 02, 2011 1:26pm
286 Views
Post# 18662804

RE: Truth hurts, eh.....

RE: Truth hurts, eh.....

Orvana certainly overpromised by assuring the transition would be smooth relying upon their operating experience. However, they are acting like rookie operators in the approach of handling these problems at the acid plant.

If the LPF process is running smoothly  I think Orvana made a big error by not attempting to procure acid on the open market on a temporary basis to operate the UMZ while they fix the problems at the acid plant.  Orvana needs cash flow.

My big question is why they couldn't even perform batch test runs of the system at an earlier date  to see these potential problems while the company was in the permitting process. The reserve extension at Las Tojas certainly gave them plenty of time

As for El Valle delays: I have no idea however the budget has increased by 20 million from original projections which may explain its decision to operate the lower grade accessible areas first at 70% of mill capacity .

It is a guess but it is certain the company doesn't want another repeat of bad press so they may wait until they can safely declare commerical production.

Trying to figure out  the bottom here will be a difficult task especially in light that I am expecting a general a market correction but when you look at this in a long term perspective (past a year) you are getting a gift at current prices.

Bullboard Posts