Value Microcaps Junior Miners

[checkmate28]

Orvana ORV.T Trading at 1 x EBITDA - One of the best values out there, Cleaner balance sheet on the way. 100K oz production at $1100 AISC will provide some stacking cash coming quarters. Investors will eventually notice Orvana has reduced risk and big leverage.

100K+ profitable production, 2 mines, large resource and $20M market Cap - Show me a better leverage play.

I tried picking ORV in Pic 10 contest but not enough volume to qualify. Go figure. Probably still no one will buy it, since there must be some reason its trading so low LOL!

since CAPEX and debt are on the way down. Investors will notice the increasing cash balance coming quarters.

https://www.orvana.com/English/news/news-details/2019/Orvana-reports-improved-second-quarter-financial-results/default.aspx

ORVANA REPORTS IMPROVED SECOND QUARTER FINANCIAL RESULTS
05/14/2019
HIGHER GOLD PRODUCTION AND LOWERED CONSOLIDATED UNITARY COSTS
ON TRACK TO DELIVER 2019 PRODUCTION GUIDANCE

PURCHASE AGREEMENT TO ACQUIRE
TAGUAS GOLD PROPERTY, SAN JUAN, ARGENTINA (No cash No dilution)

Second Quarter Fiscal 2019 Highlights:

Increased gold production of 27,306 ounces and 1.4 million pounds of copper

Delivered improved COC of $971 and AISC of $1,107
On track to achieve year-end consolidated production guidance and lower cash costs

Revenue of $36 million
EBITDA of $8.3 million
Net Income of $3.3 million
Cash balance of $9.3 million as of March 31, 2019

Increased consolidated gold production of 27,306 ounces compared to 27,272 ounces in Q1 2019 and 24,788 ounces compared to the same quarter in 2018.

FY2019 to date gold production of 54,578 and 2.8 million pounds of copper.

Improved consolidated cash costs:
COC of $971 - 5% lower compared to $1,025 in Q1 2019 and 8% lower compared to $1,055 for the same quarter in 2018.

AISC of $1,107 - 5% lower compared to $1,161 in Q1 2019 and 15% lower compared to $1,309 for the same quarter in 2018.

Increased EBITDA of $8.3 million and $12.7 million for the first half of fiscal 2019 compared to $4,5 million in the same quarter in 2018.

Increased Net income of $3.3 million and $2.3 million for the first half of fiscal 2019 compared to a loss of $3.5 million in the same quarter in 2018.

The development and engineering of a Sulphidization-Acidification-Recycling-Thickening ("SART") circuit, and associated leach pad, continues to advance. This undertaking is designed to add an additional three years of mine life to the Don Mario operations, commencing in FY 2021, subject to completion of technical, economic and funding reviews.

Successful re-financing in 2019: In the second quarter of fiscal 2019 the Company, through its wholly-owned subsidiary OroValle in Spain, closed a €6 million syndicated credit facility with three Spanish Banks. On completion of the credit facility, Orvana repaid the full Samsung C&T Prepayment Facility, originally entered into in August 2016.
Subsequent to March 31, 2019, the syndicated credit facility was increased by €2 million, for a total amount of €8 million.

On track to maintain fiscal 2019 guidance: Based on operating results generated from the first half of fiscal 2019, the Company is confident that it will achieve its stated fiscal 2019 consolidated production of 100,000 - 110,000 ounces of gold and deliver on COC guidance of $950 - $1,050 and AISC of $1,150 - $1,250

Juan Gavidia, CEO of Orvana Minerals stated: "Having already established a track record of consistent operational performance, Orvana is now clearly delivering on unitary costs, and profitability metrics. Once again, we must give recognition to our local teams in Spain and Bolivia for their continued outstanding contribution, while keeping operational safety measures as its overriding principle. We are firmly committed to delivering on our production guidance and ensuring extended mine lives for our assets in Spain and Bolivia. We look forward to updating our shareholders in the near future."