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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 geezer321on Mar 01, 2013 6:46pm
173 Views
Post# 21065172

RE: RE: RE: RE: News on Orvana Minerals

RE: RE: RE: RE: News on Orvana Minerals

"... i offer you my quick back of napkin recollection of events of the past four years." "...-acquired kinbauri for roughly $50 million....leaving about $60 million in cash.- orvana estimated pre production capex for evbc to be $53 million (scott wilson report suggested $122 million....guess who was right-orvana estimate of UMZ pre production capex was $20 million....who knows how many millions they were over budget.- EVBC annual production estimate in 2009 was 100k oz gold per year....where are we at today? About 60k or 40% less then projected.- EVBC production to start in fiscal 2011.....nope-estimated total capex required for bringing the 2 mines up was $70 million...ok because we had $53 mill in the bank and growing with the satelite deposit being mined.Today we have about $72 million in debt and two mines running at about 65% of original estimated gold production. Also forgot to mention that Copperwood was predicted to be up and running in 2013. No chance.You see, i am willing to cut anyone some slack....but to suggest you have confidence in them making Copperwood a success anywhere near budget or on time or in the best interests of shareholders is laughable. They need to sell this and get out of the new mine development business...the track record is not that good. Yes things can happen but there was no good surprises for shareholders.Yes, unbelievable that i still hold stock here. I have waited years for this to turn around and make money. I think we are finally there...but Copperwood scares me for the many reasons highlighted above.Yogi...>

Absolutely, as I said, "There were delays but managment navigated through them and made managment changes."  The prior managment did not have a good track record but the new managment has turned things around.  This is the managment I am talking about.  This current managment is now focused on cost control and improving efficiency and production.  Desipte failings of prior managment, the escalation in costs all miners were facing through that period, and a softening commodities, Orvana arrived in fair shape.   

 

 

 

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