Orvana sets new annual revenue record at Orovalle in Spain Orvana sets new annual revenue record at Orovalle in Spain
All,
I had to double check and triple check my numbers, because I didn’t believe it at first.
How could Orovalle have 20 days of missed production in fiscal Q4, have the worst ore head grades and gold production since 2016, produce 18579 fewer gold ounces and sell 13,174 fewer ounces of gold than in 2013, yet beat the 2013 previous annual revenue record of $102,309,000 USD ?
But it is true.
Orvana’s 2021 $105,513,000 USD revenue at Orovalle tops the 2013 previous record by $3,204,000 USD. 2013 Orovalle profit included a derivative gain from hedging of $42.14 million USD. Backing out that derivative gain, Orvana’s 2021 profit of $16,640,000 USD beat the 2013 adjusted profit of $13.13 million USD.
Back in 2013, the average realized gold price was $1504 USD, and copper had an average realized price of $3.33. In 2021, Orvana’s realized gold price was $1819 USD/oz—over $300 USD higher than in 2013, and the realized copper price was $3.91 USD. So 2021 copper sales of $26.664 million USD was $6.456 million USD higher than the 2013 copper by product figure of $20,208,000 USD.
Copper revenue accounted for 22 percent of 2021 revenue, while silver revenue was only 3 percent of total revenue. Orvana’s realized 2021 silver price was $25.01 USD per ounce, while the realized silver price in 2013 was $23.86 USD/oz.
The realized gold price in fiscal Q4 2021 was $1791 USD/oz, while the copper realized price was $4.24 USD per pound.
IMHO, once the market realizes that Orvana revenue and profitability are at record levels, this stock will be headed much much higher, and there will be a repricing of ORV shares to significantly higher levels!
ganndolph