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Orvana reports lower gold equivalent production in June quarter y-o-y, reiterates annual guidance

Kitco Media
By Vladimir Basov
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(Kitco News) - Orvana Minerals (TSX: ORV) today reported Q3 FY2023 (quarter ended June 30, 2023) production of 13,398 gold equivalent ounces (11,522 gold ounces, 0.8 million copper pounds and 25,965 silver ounces), down 15% from Q3 FY2022 (15,798 ounces).

The company said it is on track to meet low range of its fiscal year 2023 guidance of 46,000 - 51,000 ounces of gold, with higher throughput planned for the fourth quarter of the fiscal year when compared to previous quarters, adding that the company is also on track to achieve its copper guidance of 4,000 – 4,400 thousand pounds.

CEO Juan Gavidia stated, "Exploration results in Boinás South show the potential of additional resources to the life of mine at the El Valle deposit. The new underground hauling strategy implemented at the El Valle Mine in January 2023 has benefitted the operation by allowing the accumulation of 25,000 dmt stockpile, providing the operation with sufficient stockpile materials to process for the remainder of our fiscal year."

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.

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Vladimir Basov

Vladimir (PhD, MEng in Mining) is a professional mining engineer, scientist and analyst that has more than 20 years of practical in-field and research experience. He is particularly interested in collecting, processing baseline data and writing insightful data-driven mining industry analytics, articles, statistical and research reports.

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