ORVMF Orvana Minerals. First post here and a mining company, but this has to help somebody. ORV at .21 is My number one pic for this year for today. Most of yesterdays and todays volume was me adding to an already nice position.
Now I like to buy them when everyone hates them, but not before loads of DD. I spent some quality time at the Orvana booth at PDAC. I dont mind the patience and being unpopular when I know Im right. Trust me, you DD this one well and you will see the opportunity to be in the right place at the right time to catch this turn around.
This is a solid company making a huge transformation right now. Take just todays press release below that has gone unnoticed. This is the completion of a new CIL circuit that will process ore from 3 different sources. Source one, previously had a 50% recovery and was just bumped to near 80%. Thats a 5o% improvement that will increase revenues and lower costs. They have for the near term production, multi year feed available from both stock piled ore and a near 1.5gpt tailing pile that will be Very low cost due to very little labor. The AISC an the presentation is sickening high due to the CAPEX being expensed as opposed to capitalized. They should be cash flow positive, adding to the current cash position while paying down their $7M loan to zero in fiscal 2017 witch ends this Sept. This is just one piece of the story as their is much more. Production guidance this year is 13 million pounds of copper and 350,000 ozs of silver. 40,000 ounces gold from Don Mario (Bolivia) and Ele Valle (Spain) 55,000 ounces. The Dore processing facility is new, plus saving costs as well.
Its screaming stupid at a sub $30M MC. You only to ask, do you believe it? then either make the speculation or pass.
ORV ORVMF Orvana reports first doré shipment by Don Mario Mine
TSX:ORV
TORONTO, March 29, 2017 /PRNewswire/ - Orvana Minerals Corp. (TSX:ORV) (the "Company" or "Orvana") is pleased to report that the first commercial shipment of gold-silver doré was made from the recently re-commissioned carbon-in-leach circuit (the "CIL Project") at the Company's Don Mario Mine.
On March 28, 2017 the first commercial shipment took place, comprising 11 bars with approximately 5,800 ounces of gold and 1,700 ounces of silver, based on provisional assays. As previously announced, Don Mario's first gold-silver doré bar was poured on January 22, 2017 and the CIL circuit is now fully operational. The gold-silver doré bars will be exported for refining and sale pursuant to arrangements with arm's length, third parties.
Jim Gilbert, Chairman and CEO, stated "We are very pleased with the successful re-commissioning of the CIL plant at Don Mario. The commissioning was executed as planned and is now achieving enhanced gold recovery approaching our target of approximately 80%. This important milestone at Don Mario Mine is delivering on our commitment to maximize shareholder value by increasing gold recovery, lowering unit costs and, with the enhanced processing capability, facilitating the expected mine life extension opportunities at the Don Mario operation. Congratulations to the Don Mario team on this tremendous achievement."
Total capital costs for the CIL Project are in line with the capital cost estimate established by the Company in 2016 of US$6.4 million to accuracy estimate of +/- 15% including owner's costs and 15% contingency.
The Company anticipates that the CIL circuit will deliver substantially higher average gold recoveries of approximately 80% compared to recent average gold recoveries of approximately 55% from the prior flotation only process. The forecast increase in gold ounces produced is expected to positively impact unitary cash costs and provide free cash flow in the second half of fiscal 2017, allowing for full repayment of the US$7.9 CIL Project financing by the end of fiscal 2017.
