- Where do the shares trade?
The shares have been listed on the TSX since 1992 and trade under the
- Who is the transfer agent?
The transfer agent is Equity Transfer and Trust Company. Address:
200 University Avenue, Suite 400, Toronto, Ontario M5H 4H1. Phone:
416 361 0152 or toll free in North America at (866) 393-4891. Email:
Fax: (416) 361-0470.
- Can I receive my shareholder
information and financial reports electronically?
The Company’s annual and interim reports and management proxy circular
are available on the Company’s website at
www.orvana.com and on SEDAR at
www.sedar.com . Annual meeting
materials are mailed to shareholders. There is no provision in
Canada as yet for shareholders to receive proxy materials
electronically, unlike in the U.S.
What are the current reserves and resources?
Our reserves and resources evolve quarter by quarter and current information can
be found on our website in the latest quarterly MD&A’s and in technical reports.
What are Orvana’s production costs?
Please refer to the latest MD&A and Financial Statements found in the “Investors”
How long will the Don Mario Mine operate? What are the future prospects
for this mine and the surrounding area?
The Don Mario Lower Mineralized Zone gold mine was depleted in the fourth
quarter of fiscal 2009 and in May 2009 the Board approved development of the Don
Mario Upper Mineralized Zone copper-gold deposit which is expected to be in
What is the Company’s primary focus?
The Company’s long-term goal is to become a low cost, long-life, multi-mine gold
and base metals producer.
What are the key factors that drive financial performance?
As noted in our MD&A, key factors include metals prices, tax rates, ore
reserves, ore grades and recoveries, energy costs, cost management and efficient
mine development and capital spending programs.
- What is your strategy for investing cash to achieve the greatest long-term
impact on building shareholder value? What are the objectives and criteria of
your acquisition program?
The Company plans to invest in growth opportunities and to diversify country
risk. The Company is devoting considerable efforts in its pursuit of
growth and diversification. Our strategy is to:
• Seek attractive precious and base metals projects
• Seek producing mines and/or advanced stage projects
• Leverage operating and management capabilities
• Employ available capital in more than one opportunity
• Focus on building long-term shareholder value
- What is the status of the Company’s acquisition program?
The Company has evaluated numerous projects and continues to evaluate projects
that meet its criteria. The most recent addition, the El Valle-Boinás/Carlés
gold-copper project acquired in August 2009, is the largest and most promising
to date, and is an excellent fit with Orvana’s experience bringing underground
mines into production. The Copperwood Project was added in September 2008,
and the Don Mario Upper Mineralized Zone (UMZ) copper-gold project commenced
production in 2011. The UMZ extends operations in the Don Mario District
Where is the Company’s cash held on deposit?
The Company uses banks in Canada, Sweden, the United States and Bolivia.
All of the Company’s excess funds, however, are held in Canada and Sweden.
In what investments and currency are the Company’s cash/cash equivalents held?
Most of our cash is held in US dollars. We invest excess cash in
highly-rated financial instruments.
Does the Company have any debt?
The Company has a US$50 million 5 year term loan with Credit Suisse.
Please refer to October 12, 2010 press release for more information.
Are there any plans to pay a dividend?
Orvana’s current strategy is to build shareholder value through successful
operations and execution of its expansion and diversification program. Given the
capital intensive nature of the mining industry, we expect the qualified
opportunities we pursue to require all the cash we have available, and therefore
do not currently contemplate paying a dividend.