Orvana Minerals Corp T.ORV

Results out

[jicoop]

Guaranteed we don't move a penny tomorrow, Smilin Juan knows that :

Q1 2021 Consolidated Highlights:

• Production of 18,398 gold equivalent ounces (14,127 gold ounces, 2.0 million copper pounds and 55,333 silver ounces).
• Revenue of $27.8 million. Average realized gold price per ounce of $1,868 and copper price per pound of $3.29.
• EBITDA of $7.3 million.
• Free cash flow of $5.1 million.
• Cash balance of $15.6 million as at December 31, 2020.
• Cash Operating Costs ("COC") and All in Sustaining Costs ("AISC") of $1,051 and $1,467.

Selected Q1 2021 Consolidated Operational and Financial Information

	Q1 2021	Q4 2020	Q1 2020	FY 2020
Operating Performance
Gold
Grade (g/t)	2.60	2.70	2.42	2.56
Recovery (%)	92.6	93.3	92.2	93.1
Production (oz)	14,127	13,422	15,815	53,421
Sales (oz)	12,085	14,784	18,663	55,344
Average realized price / oz	$1,868	$1,891	$1,473	$1,647
Copper
Grade (%)	0.63	0.58	0.36	0.45
Recovery (%)	81.6	83.4	71.5	80.8
Production ('000 lbs)	2,044	1,780	892	5,611
Sales ('000 lbs)	1,645	1,971	1,051	5,512
Average realized price / lb	3.29	2.93	2.64	2.68
Financial Performance (in 000's, except per share amounts)
Revenue	$27,815	$32,586	$29,020	$101,994
Mining costs	$17,657	$22,392	$26,004	$82,240
Gross margin	$6,263	$3,290	($2,613)	($2,114)
Net income (loss)	$1,919	$8,640	($2,745)	($1,592)
Net income (loss) per share (basic/diluted)	$0.01	$0.06	($0.02)	($0.01)
EBITDA	$7,282	$7,255	$1,515	$9,544
Operating cash flows before non-cash working capital changes	$7,494	$4,304	$2,108	$8,959
Operating cash flows	$5,087	$13,392	$2,176	$11,435
Free Cash Flow	$5,087	$602	$328	$278
Ending cash and cash equivalents	$15,562	$15,572	$8,135	$15,572
Capital expenditures (2)	$2,407	$3,702	$1,780	$8,681
Cash operating costs (by-product) ($/oz) gold	$1,051	$1,241	$1,207	$1,278
All-in sustaining costs (by-product) ($/oz) gold	$1,467	$1,609	$1,370	$1,582
All-in costs (by-product) ($/oz) gold	$1,518	$1,643	$1,382	$1,614

Costs still too high to get anyone interested. All IMHO of course.

[Thales42]

AISC may be high, but the generated free cash flow is even higher. On  a forward basis we are taking about $1.5 to $2 valuation

[Beluga2020]

The results are decent. $5M free cash flow, shrinking AISC, rising copper prices (they sold on avg.at $3.29), positive EPS. This is my long term value play. Killing it with my cannabis stocks but they are in bubble territory and the recent increases are irrational. Orvana's current valuation is irrational in my opinion.

[checkmate28]

jicoop I disagree. This press release going to get some traction in share price tomorrow. This is the press release that's going to set ORV in motion. With this kind of cash flow, they have plenty of cash to move things forward. 7200 M of drilling we're done Q1

[checkmate28]

jicoop I disagree. This press release going to get some traction in share price tomorrow. This is the press release that's going to set ORV in motion. With this kind of cash flow, they have plenty of cash to move things forward. 7200 M of drilling we're done Q1

[ganndolph1]

jicoop, Your All-in sustaining costs include the $1.6 million USD cost of care and maintenance at EMIPA and the $1.239 million USD overhead cost of the Toronto corporate office. The production based AISC at EVBC is running at $708 USD per ounce of gold production and so EVBC is now a LOW COST MINER thanks to higher copper prices and higher silver prices. Q1 2021 Consolidated Highlights

[SmilinJuanG]

Gandork, production based ASIC is NOT $708USD.  You would need to add in the amount they carry the unsold inventory for thats on the books.  So ASIC would not change materially (it would change slightly due to amortizing CAPEX over more ozs, but thats maybe $20/oz). When you look at ASIC without corp head office and maintenance at EMIPA, the $1,190/oz is respectable.  Of course

[SmilinJuanG]

ever notice that when Gandork is faced with facts, he just shuts the FU??????? $2 here we come!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!......................$20 by end of year..................................SmilinJuan will be smilin!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[NostradamusII]

Hey SmilinJ, why so unhappy, I think this quarter was pretty ok and at least in par with expectations, which has been rare looking into the rear mirror.   You have a point that you just can’t reduce the AISC with the full sales value of the increased inventory to be sold in some coming quarter, which Ganndolph seems to be doing in his production based AISC? On the other side, he still has a