Orvana posts quarterly production decline in Spain; asserts its guidance
(Kitco News) - Orvana Minerals (TSX: ORV) today announced that the company produced 10,785 ounces of gold and 1.4 million pounds of copper during the quarter ended March 31, 2021 (the company’s Q2 2021 fiscal year) at its OroValle mine in Spain.
Notwithstanding the fact that production of both gold (-11%) and copper (-5%) was lower compared to the corresponding period of 2020, the company asserted it is on track to meet its fiscal year 2021 guidance.
CEO Juan Gavidia stated, "While we are on track to deliver on our production guidance for fiscal 2021, we are also pleased to report that exploration at OroValle continues to produce positive results, enhancing our current 5-Year Life-of-Mine Plan. OroValle's future has never looked brighter than today."
Orvana is a multi-mine gold-copper-silver company. Orvana's assets consist of the El Valle operation in northern Spain, and the Don Mario gold-silver property in Bolivia, currently in care and maintenance. Orvana is in the process of closing the acquisition of Taguas, Argentina.