El Valle-Boinás/Carlés

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 2018 Au / Cu Production 58,259 Au oz / 5.1M Cu lbs
Q1 2019 Au / Cu Production 16,546 Au oz / 1.4M Cu lbs
Guidance - 2019 62 - 68,000 Au oz / 3.2 - 3.6M Cu lbs
FY 2018 COC / AISC $1,129 / $1,331 oz Au
Q1 2019 COC / AISC $1,014 / $1,162 oz Au
Q1 2019 Plant Recoveries 93.2% Au / 75.9% Cu
Plant Capacity 2,000 tpd
Q1 2019 Grade 3.24 g/t Au / 0.48% Cu

El Valle mill and offices


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