Excellent Operations update Highly W/Green light for Taguas All positives. Cant find anything negative. Juan needs to get out and start talking about executing the plan to restart production at Bolivia.
Progress is moving foward. Push the economics for the Bolivian OSP out to the market, coupled with the 2024 cash flowing guidance for Orovalle, and the value proposition for ORV shares will be clear. Extreme good bargain, greatly reduced risk, ready for a turn around, short medium and long term.
Copper headed to stay over $4 will help as well
Highlights:
- Gold equivalent production of 57,250 in FY2023, in line with the prior fiscal year.
- Revenue 5% higher and mining costs 12% lower when compared to FY2022.
- EBITDA1 of $21.7 million in FY2023, significantly higher than the EBITDA1 of $6.3 million in FY2022.
- Consolidated COC and AISC were 15% and 14% lower, respectively, than the prior fiscal year.
- Key Bonds Program approval in Bolivia sets Oxides Project for imminent construction start.
Juan Gavidia, CEO of Orvana Minerals Corp. stated: "FY2023 demonstrated Orvana's capacity to significantly address sudden costs increases driven by external factors that impacted us in FY2022. Sharp focus on efficiency improvements and cost management were key to deliver on our annual guidance. The Company has generated substantial operating cash flow in FY2023 to support our growth initiatives and debt reduction". He added, "As we move forward, our primary focus remains delivering operating cash flow and executing our plan to restart production at Bolivia".