Orvana Minerals Corp. (TSX: ORV) is pleased to: report results for Fiscal Year 2024 (ended September 30, 2024); announce Fiscal Year 2025 Guidance; announce the start of earthworks at Don Mario in Bolivia to prepare for the commencement of the construction of the Oxides Stockpile Project; and provide an update on financing of the OSP.
This news release contains only a summary of the Company’s financial and operations results for fiscal year 2024, and readers should refer to the full set of audited consolidated financial statements for the years ended September 30, 2024 and 2023, and accompanying management’s discussion and analysis, available on www.sedarplus.ca and on the Company’s website at www.orvana.com. All financial figures contained herein are expressed in U.S. dollars unless otherwise noted.
“The start of earthworks on site marks another important milestone in the restart of production at Don Mario” stated Juan Gavidia, CEO of Orvana. “Project advancement continues in a controlled manner as we focus on managing our liquidity in a prudent fashion” he added.
Highlights
Bolivia:
Spain:
Argentina:
Selected Annual Information
Years Ended September 30 | |||
2024 | 2023 | ||
GEO (1) | 44,591 | 57,250 | |
Consolidated Financial Performance (in 000’s) | |||
Revenue | $ 90,310 | $ 99,122 | |
Mining costs | 66,033 | 74,867 | |
Income (loss) before income taxes | 2,307 | 2,142 | |
Comprehensive (loss) income | (2,626) | 2,377 | |
EBITDA (1) | 16,865 | 21,652 | |
Cash provided by operating activities | 16,481 | 21,037 | |
Capital expenditures (cash basis) | 10,617 | 11,666 | |
Cash (used in) provided by financing activities | 19,637 | (8,057) | |
Total assets | 138,575 | 123,249 | |
Current liabilities | 34,841 | 38,430 | |
Non-current liabilities | 49,801 | 28,260 | |
Orovalle | COC (1) ($/oz) | 1,539 | 1,294 |
AISC (1) ($/oz) | 1,829 | 1,580 |
FY2025 Guidance
The following table sets out Orovalle’s fiscal 2024 results and fiscal 2025 production, capital expenditures and costs guidance:
Orovalle |
FY 2024
Actual |
FY2025
Guidance (2) |
|
Metal Production | |||
Gold (oz) | 36,488 | 37,000 – 41,000 | |
Copper (million lbs) | 3.7 | 2.4 – 2.7 | |
Capital Expenditures (USD thousands) | $8,372 | $14,000 – $16,000 | |
Cash operating costs (by-product) ($/oz) gold (1) | $1,539 | $1,550 – $1,650 | |
All-in sustaining costs (by-product) ($/oz) gold (1) | $1,829 | $2,000 – $2,150 | |
(1) | Gold Equivalent Ounces (GEO), EBITDA, cash costs per ounce (COC) and all-in sustaining costs (AISC) per ounce are Non-GAAP Financial Performance Measures. For further information and detailed reconciliations, please see the “Non-GAAP Financial Performance Measures” section of the Company’s FY2024 MD&A. | ||
(2) | Fiscal 2025 guidance assumptions for COC and AISC include by-product commodity prices of $4.3 per pound of copper and an average Euro to US Dollar exchange of 1.10. |
Orvana subsidiary in Bolivia reports Q4 FY2024 unaudited financial results
As a registered bond issuer on the Bolivian stock market, EMIPA is required to file its quarterly financial statements with Autoridad de Supervisión del Sistema Financiero (“ASFI”). The unaudited financial statements for the period ended September 30, 2024 for EMIPA can be viewed at the following ASFI landing page (the “ASFI Page”):
https://www.asfi.gob.bo/index.php/registro-rmv/mv-entidades-inscritas-en-el-rmv.html
To search for EMIPA’s financial statements, select the following at the ASFI Page:
ENTIDADES REGULADAS – EMISORES: Empresa Minera Paitití, S.A. EMIPA
Ver: Estados Financieros
ABOUT ORVANA
Orvana is a multi-mine gold-copper-silver company. Orvana’s assets consist of the producing El Valle and Carlés gold-copper-silver mines in northern Spain, the Don Mario gold-silver property in Bolivia, and the Taguas property located in Argentina. Additional information is available at Orvana’s website (www.orvana.com).
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