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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
Post by newbie880on Jul 11, 2011 12:55pm
305 Views
Post# 18818371

Going do drop further...

Going do drop further...until they finance another 10 million and iron out these major operational issues. Nothing good about this release, only to tell of the incompetent management that is running this outfit. Don't sugarcoat it. Like I said before, someone's azz needs to be fired. According to their update on Bolivia, Copper recoveries currently in the 60-per-cent range are expected to reach the targeted 80-per-cent level within the next few months. That's almost a year behind on schedule when everything is supposed to be fully functioning. Wonder how much cashflow they lost because of that blunder. Also, To address the cash requirements of the additional EVBC bond as well as increased working capital needs from slower-than-anticipated recoveries of VAT receivables in Spain and accumulating additional ore inventories in both Bolivia and Spain, Orvana is reviewing financing alternatives to raise approximately $10-million (U.S.). Tell it the way it is.
Bullboard Posts