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 2021 Au / Cu Production |
47,413 Au oz / 6.3M Cu lbs |
| Q1 2022 Au / Cu Production |
11,731 Au oz / 1.5M Cu lbs |
| FY 2022 Au / Cu Production Guidance |
48,000 - 53,000 Au oz / 5.8 - 6.5M Cu lbs |
| FY 2022 COC - AISC |
$1,043 - $1,376 oz Au |
| Q1 2022 COC - AISC |
$1,140 - $1,446 oz Au |
| FY 2022 COC / AISC Guidance |
$1,050 - $1,150 oz Au / $1,550 - $1,700 oz Au |
| Plant Capacity |
2,000 tpd |
| Q1 2022 Plant Recoveries |
91.2% Au / 83.7% Cu |
| Q1 2022 Grade |
2.27 g/t Au / 0.45% Cu |