trending Market Intelligence /marketintelligence/en/news-insights/trending/kbnPdcjpyEOY0CAJyJ4_OQ2 content esgSubNav
In This List

Orvana ships 1st gold-silver doré from Don Mario mine

Blog

World Exploration Trends 2022

Blog

Gold Market Outlook

Blog

Insight Weekly: US recession outlook; mortgage activity slowdown; climate disclosure push

Blog

Insight Weekly: Cybersecurity M&A momentum; US banks' loan growth; miners' labor supply woes


Orvana ships 1st gold-silver doré from Don Mario mine

Orvana Minerals Corp. said March 29 that it made the first commercial shipment of gold-silver doré after recently recommissioning the carbon-in-leach circuit at its Don Mario mine in Bolivia.

The shipment comprised 11 bars with approximately 5,800 ounces of gold and 1,700 ounces of silver, based on provisional assays. The first gold-silver doré bar was poured Jan. 22.

The doré bars will be exported for refining and sale through arrangements with arm's length third parties, the company noted.

Orvana Minerals expects the circuit to deliver significantly higher average gold recoveries of about 80%, compared to recent gold recoveries averaging approximately 55% from the prior flotation only process.

The increased gold production is expected to positively impact unit cash costs and provide free cash flow in the second half of the company's fiscal 2017, allowing for full repayment of the US$7.9 million debt financing for the CIL project by the end of the fiscal year.