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.
| OROVALLE OVERVIEW |
| Ownership |
100% |
| FY2024 Au / Cu Production |
36,488 Au oz / 3.7M Cu lbs |
| Q3 YTD FY2025 Au / Cu Production |
22,960 Au oz / 2.8M Cu lbs |
| FY 2025 Au / Cu Revised Production Guidance |
30,000 - 31,000 Au oz / 3.5 - 3.7M Cu lbs |
| FY 2024 COC - AISC |
$1,539 - $1,829 oz Au |
| Q3 YTD 2025 COC - AISC |
$1,706 - $2,069 oz Au |
| FY 2025 COC / AISC Revised Guidance |
$1,800 - $1,900 oz Au / $2,100 - $2,200 oz Au |
| Plant Capacity |
2,000 tpd |
| FY 2024 Plant Recoveries |
92.2% Au / 76.6% Cu |
| Q3 YTD 2025 Plant Recoveries |
92.8% Au / 83.9% Cu |
| FY 2024 Grade |
2.21 g/t Au / 0.40% Cu |
| Q3 YTD 2025 Grade |
2.22 g/t Au / 0.44% Cu |
Beyond the extractive activity and mineral processing, OroValle develops continuous geological research work in the three gold belts of Asturias in search of new mineral resources. In this regard, Orovalle has more than 35,841 hectares in the Principality of Asturias between Exploitation Concessions and Research Permits. There is also a significant number of Research Permits that are in process in the Administration of the Principality that represent 3,024 hectares distributed among the different gold belts of western Asturias.