Guy ORV.to Were going to rock on this one. Financials should help illuminate the direction this company is going. Current quarter will be out in November should show even more production at lower costs with debt dropping fast. 141k Annualized Gold production at a $41M Market Cap
We'll be laughing when the market catches up.
TORONTO, July 17, 2017 /PRNewswire/ -- Orvana Minerals Corp. (TSX:ORV) (the "Company" or "Orvana") is providing the following production results for the El Valle Mine ("El Valle") in Spain and Don Mario Mine ("Don Mario") in Bolivia for the third quarter of fiscal 2017 ("Q3 2017").
Record consolidated quarterly gold production of 26,414 ounces;
Consolidated gold equivalent production of 35,292 ounces in Q3 2017 (141k annualized) representing an increase of 27% compared to Q2 2017;
On track to meet fiscal 2017 production guidance;
El Valle gold and copper production increased by 15% and 24%, respectively, compared to Q2 2017 due to higher recoveries and tonnes milled; mill throughput averaged 2,284 tonnes per day ("tpd") in the period; Don Mario completed first full quarter of commercial production from the re-commissioned carbon-in-leach circuit ("CIL Circuit") achieving a 48% increase in gold production compared to Q2 2017 and gold recovery of 89.3%, exceeding target of 80%. (This is a 65% improvement that will help the bottom line)
