Orvana Minerals Corp. (TSX: ORV) announced today financial and operational results for the third quarter of fiscal 2021 ending June 30, 2021.
Q3 2021 Consolidated Highlights:
Juan Gavidia, CEO of Orvana Minerals stated: “We are very pleased with the progression of our initiatives during FY2021. Orvana is entering the fourth quarter of FY2021 with momentum of maintaining stable cash generation in Spain, developing the Taguas property in Argentina by increasing initial mineral resources estimates, and advancing to the final phase of metallurgical testing of the oxides stockpile project in Bolivia.”
OroValle (Spain)
Taguas (Argentina)
EMIPA (Bolivia)
Selected Q3 2021 Consolidated Operational and Financial Information
Q3 2021 | Q2 2021 | Q3 2020 | YTD 2021 | YTD 2020 | |
Operating Performance | |||||
Gold | |||||
Grade (g/t) | 2.60 | 2.31 | 2.43 | 2.51 | 2.51 |
Recovery (%) | 91.5 | 90.9 | 94.1 | 92.1 | 93.0 |
Production (oz) | 13,879 | 10,785 | 12,046 | 38,791 | 40,000 |
Sales (oz) | 14,520 | 8,523 | 9,681 | 35,128 | 40,560 |
Average realized price / oz | $1,798 | $1,822 | $1,543 | $1,828 | $1,508 |
Copper | |||||
Grade (%) | 0.48 | 0.47 | 0.51 | 0.53 | 0.47 |
Recovery (%) | 84.6 | 82.3 | 81.8 | 82.7 | 79.6 |
Production (‘000 lbs) | 1,630 | 1,355 | 1,517 | 5,029 | 3,831 |
Sales (‘000 lbs) | 1,784 | 1,475 | 1,077 | 4,905 | 3,541 |
Average realized price / lb | 4.36 | 3.74 | 2.36 | 3.82 | 2.54 |
Financial Performance (in 000’s, except per share amounts) | |||||
Revenue | $32,800 | $19,678 | $19,142 | $80,293 | $69,407 |
Mining costs | $22,516 | $14,880 | $15,187 | $55,053 | $59,848 |
Gross margin | $5,141 | $1,746 | $32 | $13,150 | ($5,404) |
Net income (loss) | ($877) | ($818) | ($4,711) | $224 | ($10,232) |
Net income (loss) per share (basic/diluted) | ($0.01) | ($0.01) | ($0.03) | $0.00 | ($0.07) |
EBITDA | $5,985 | $2,683 | ($914) | $15,950 | $2,289 |
Operating cash flows before non-cash working capital changes |
$7,600 | $3,446 | $1,163 | $18,540 | $4,655 |
Operating cash flows | $9,097 | ($594) | ($822) | $13,590 | ($1,957) |
Free cash flow | $2,802 | ($449) | $826 | $7,440 | ($324) |
Ending cash and cash equivalents | $15,936 | $13,390 | $8,046 | $15,936 | $8,046 |
Capital expenditures | $4,798 | $3,895 | $337 | $11,100 | $4,979 |
Cash operating costs (by-product) ($/oz) gold | $1,079 | $1,193 | $1,367 | $1,097 | $1,292 |
All-in sustaining costs (by-product) ($/oz) gold | $1,528 | $1,769 | $1,719 | $1,566 | $1,573 |
All-in costs (by-product) ($/oz) gold | $1,661 | $1,958 | $1,800 | $1,684 | $1,604 |
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, currently in care and maintenance, and the Taguas property located in Argentina.
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