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 2019 Au / Cu Production 64,327 Au oz / 5.0M Cu lbs
Q1 2020 Au / Cu Production 13,722 Au oz / 0.9M Cu lbs
Guidance - 2020 60,000 - 65,000 Au oz / 5.5 - 6.0M Cu lbs
FY 2019 COC - AISC $1,004 - $1,185 oz Au
Q1 2020 COC - AISC $1,039 - $1,188 oz Au
Guidance 2020 COC / AISC $900 - $1,000 oz Au / $1,100 - $1,200 oz Au
Q1 2020 Plant Recoveries 92.2% Au / 71.5% Cu
Plant Capacity 2,000 tpd
Q1 2020 Grade 2.986 g/t Au / 0.36% Cu


El Valle mill and offices


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