Top-News
Tageszeitungen (Symbolbild).
Montag, 13.02.2023 20:47 von | Aufrufe: 366

ORVANA REPORTS CONSOLIDATED FINANCIAL RESULTS FOR THE FIRST QUARTER OF FISCAL 2023

Tageszeitungen (Symbolbild). pixabay.com

PR Newswire

TORONTO, Feb. 14, 2023

TSX:ORV

Q1 FY2023 Orovalle Highlights:

  • Production of 13,815 GEO(1) (10,711 gold ounces, 1.2 million copper pounds and 44,903 silver ounces).
  • COC at $1,309, and AISC at $1,598.
  • On track to meet fiscal 2023 guidance.

Q1 FY2023 Consolidated Highlights:

  • Revenue ($M): 23.0
  • EBITDA ($M): 2.7
  • CAPEX ($M): 3.1
  • Unrestricted Cash EoP ($M): 4.2

TORONTO, Feb. 14, 2023 /PRNewswire/ -- Orvana Minerals Corp. (TSX: ORV) (the "Company" or "Orvana") reports consolidated financial and operational results for the quarter ended December 31, 2022.

Orvana Minerals Corp. Logo

This news release should be read in conjunction with the Company's Management's Discussion and Analysis, unaudited Financial Statements and Notes to unaudited Financial Statements for the corresponding period, which have been posted on the Orvana Minerals Corp. SEDAR profile at www.sedar.com, and which are also available on the Company's website at www.orvana.com. All figures are in U.S. dollars unless otherwise noted.

"Stable quarter at Spain, with production and costs in line with the plan for the period, resulting in a unitary cost decrease that we expect to continue along the year. At Bolivia, the Bonds Program continues advancing, and, subject to receiving applicable approvals, we expect to complete the issuance during the second quarter", said Orvana CEO Juan Gavidia.

"We are repositioning the long term strategy for the Taguas Project, potentially including current sulphides resources, plus deep copper-gold porphyry opportunities. Recent drilling results obtained at the Valeriano Project by ATEX Resources, 10km north of Taguas, continue reinforcing the exploration potential of our property", he added.


ARIVA.DE Börsen-Geflüster

Consolidated Financial Results for the quarter ended December 31, 2022:

  • EBITDA(1) of $2.7 million.
  • Operating cash flow of $3.7 million.
  • Capital expenditures of $3.1 million.
  • Net income of $0.1 million.

Operating Highlights for the first quarter of Fiscal 2023:

  • Orovalle:
    • Production of 13,815 GEO(1) generally in line with the plan for the period, and on track to meet production guidance.
    • A total of 2,868 m of infill drilling were completed at El Valle Boinás and 733 m of greenfield drilling were completed at Ortosa Godán.
    • Capital Expenditures of $3.1 million.
    • COC1 of $1,309 and AISC(1) of $1,598.
  • EMIPA:
    • Don Mario continues in care and maintenance ("C&M") while the Oxides Stockpile Project ("OSP") continues advancing, with the main focus being at the moment the project financing.
    • During the first quarter of fiscal 2023, EMIPA initiated the process for the issuance of a $47 million Bond Program in the Bolivian stock market. Conditional upon closing the Bonds Program issuance and completing the rest of funding during second quarter of fiscal 2023, EMIPA expects OSP construction to start in the third quarter of fiscal 2023. OSP is projected to operate for 35 months, starting after a 12-month construction period.
  • Orvana Argentina:
    • Based on the information obtained from the fiscal 2022 infill campaign, the Company has updated the resource modelling and an updated mineral resources estimate is available in the Annual Information Form of the Company dated December 2022.
    • Orvana is analyzing a strategic option to combine Oxides and Sulphides in a larger undertaking strategy. Fiscal 2023 will be dedicated to enhance the analytics of the sulphides zone of the deposit. Once the oxides – sulphides combined opportunity is understood, a potential infill drilling campaign will be designed.
    • The deep copper-gold porphyry opportunity at Taguas Project is reinforced by the encouraging drilling results obtained at the Valeriano Project (owned by Atex Resources TSXV:ATX), located 10km north of Taguas Project. The predominant structures in the northern segment of El Indio Belt, hydrothermal alteration and mineralization are similar between Taguas and Valeriano Projects.

Consolidated Results

Q1 2023

Q4 2022

Q1 2022

FY 2022

Operating Performance



Gold



      Grade (g/t)

2.30

2.36

2.27

2.25

      Recovery (%)

92.5

92.7

91.2

91.6

      Production (oz)

10,711

12,272

11,731

44,698

      Sales (oz)

10,799

14,505

11,440

44,124

      Average realized price / oz (1)

$1,732

$1,719

$1,796

$1,803

Copper



      Grade (%)

0.43

0.40

0.45

0.39

      Recovery (%)

82.6

83.2

83.7

82.7

      Production ('000 lbs)

1,216

1,267

1,451

4,808

      Sales ('000 lbs)

1,227

1,384

1,541

4,939

      Average realized price / lb (1)

$3.62

$3.54

$4.39

$4.18

Financial Performance (in 000's, except per share amounts)

Revenue

$22,978

$27,713

$26,633

$94,668

Mining costs

$18,840

$24,593

$19,738

$85,380

Gross margin

$675

($2,092)

$3,234

($6,202)

Net income (loss)

$134

($6,157)

$440

($13,719)

Net income (loss) per share (basic/diluted)

$0.00

($0.05)

$0.00

($0.10)

EBITDA (1)

$2,736

$4,373

$4,758

$6,277

Werbung

Mehr Nachrichten kostenlos abonnieren

E-Mail-Adresse
Benachrichtigungen von ARIVA.DE
(Mit der Bestellung akzeptierst du die Datenschutzhinweise)

Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte.


Andere Nutzer interessierten sich auch für folgende News

PR Newswire Thumbnail
25.04.24 - PR Newswire
Fidelity Emerging Markets Ltd - Transaction in Own Shares
PR Newswire Thumbnail
25.04.24 - PR Newswire
Samson Rock Capital LLP - Form 8.3 - Accrol Group Holdings plc
PR Newswire Thumbnail
25.04.24 - PR Newswire
Samson Rock Capital LLP - Form 8.3 - Spirent Communications PLC