News

Orvana Minerals Achieves Annual Production Targets

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Andrew R. Michaud

• October 16, 2023

Orvana Minerals, a mining company that operates the El Valle and Carles gold-copper-silver mines in northern Spain, has successfully met its annual production targets. The company's highest quarterly output of the fiscal year was recorded in the final three months.

Production Highlights

In the fiscal fourth quarter, Orvana Minerals boosted its gold-equivalent production to 15,567 ounces, surpassing the 15,344 ounces achieved in the same period the previous year. Key figures for the quarter include:

• Gold production: 12,427 ounces
• Copper output: 1.36 million pounds
• Silver production: 38,861 ounces (decreased compared to the previous year)

Despite a slight decrease in overall production, the company remained on track with its gold output target of 46,000 to 51,000 ounces, producing 46,259 ounces during the year. Copper production exceeded expectations by reaching 4.52 million ounces, surpassing the guidance of 4 million to 4.4 million pounds.

Future Outlook

Orvana Minerals plans to release its guidance for the upcoming fiscal year alongside its full-year financial results in mid-December. Stay tuned for more updates on their future prospects.

Want to learn more? Visit Orvana Minerals' official website for comprehensive information on their operations and projects.