ORV.T Going up because more people are seeing the value. Holders know this and aren't giving it away.
I also reported the CAPEX was still there in H2 and that would continue to weigh in on the AISC in h2 since most is expensed.
A little history that I know you are aware of but is a factor here. While gold was crashing, they choked down paying the $65M loan with steep payments. Again looking at Orvanas 10 year OS count showes they rarely dilute. This left the company on life support with serious deficiencies both underground and above ground. They put together what Im calling the rehab. Its sustaining, because its needed to sustain operations. Truth is, it facilitated both increased value for the company and a platform for growth.
Whats going to effect the H2 AISC are the increased tonnage, the better grades and the much improved recoveries. Since ORV expenses most of the CAPEX, those current AISC numbers do little to inform what the AISC number will look like in the succeeding quarters when the CAPEX is normalized.
The H2 Gold production came in at 36k while the guidance was for between 85k to 95k Thats leaves bet 49k and 59k for H2 Thats a positive effect on both revenues, CC and AISC
Recovery from the CIL circuit came up from 55% to 86% Thats a 50% increase in gold there with no extra cost.
CIL also allows for mining the higher grade Don Mario LMZ as opposed to the UMZ
This thesis remains. Once the rehab is completed, the AISC will drop
significantly and 130k OZ AuEq at much lowered costs, with nice CF, will support a MC that's multiples of even the current MC.
