Orvana reports lower quarterly gold equivalent production due to strike in Spain
(Kitco News) - Orvana Minerals (TSX: ORV) reported today that the company produced 10,595 gold equivalent ounces at its Orovalle operations in Spain in the second quarter of fiscal year 2022, a 33% decrease from Q1 FY2022.
According to the company’s statement, its quarterly production was impacted by the temporary operations stoppage in March as a result of the nationwide transport strike in Spain.
The company said it is in the process of reviewing its operations and costs as a result of the temporary stoppage in March, and expects to be in a position to provide a more comprehensive update of the impacts on operations as part of the Q2 FY2022 reporting process in May.
CEO Juan Gavidia stated, "This has been a challenging quarter in terms of production in Spain due to the COVID-19 impact on the workforce in the first half of the quarter, supply chain strains all around Europe affecting the availability of spare parts, and the nationwide transport strike in March. Since early April supply chain channels have been reactivated, production restarted, and we are in the process of reviewing and optimizing the production plan for the second half of the year."
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He added that the company’s exploration program continues producing "excellent" outcomes, reinforcing Orvana's internal growth potential to increase resources in Spain.
Orvana is a multi-mine gold-copper-silver company. Orvana's assets consist of the producing El Valle and Carlés gold-copper-silver mines in northern Spain, the Don Mario gold-silver property in Bolivia, currently in care and maintenance, and the Taguas property located in Argentina.