In September 2009, Orvana acquired the EVBC Mine through its acquisition of Kinbauri Gold Corp. In June 2015 the
Company changes the subsidiary name to OroValle Minerals S.L.
The EVBC Mine is located in the Rio Narcea Gold Belt of northern Spain and was previously mined from 1997 to 2006 by
Rio Narcea Gold Mines. They produced nearly 1,000,000 ounces of gold and over 20,000 tonnes of copper prior to the
closure of the mine.
The following table sets forth the production from the EVBC Mines for the periods indicated together with guidance
for the upcoming period.
| EL VALLE UNDERGROUND MINE OVERVIEW |
| Ownership |
100 % |
| FY 2020 Au / Cu Production |
51,104 Au oz / 5.6M Cu lbs |
| Q1 2021 Au / Cu Production |
14,127 Au oz / 2.0M Cu lbs |
| FY 2021 Au / Cu Production Guidance |
50,000 - 55,000 Au oz / 7.0 - 8.5M Cu lbs |
| FY 2020 COC - AISC |
$1,151 - $1,385 oz Au |
| Q1 2021 COC - AISC |
$954 - $1,191 oz Au |
| FY 2021 COC / AISC Guidance |
$1,050 - $1,150 oz Au / $1,350 - $1,450 oz Au |
| Q1 2021 Plant Recoveries |
92.6% Au / 81.6% Cu |
| Plant Capacity |
2,000 tpd |
| Q1 2021 Grade |
2.60 g/t Au / 0.63% Cu |