-- Orvana Minerals (ORV.TO) overnight Thursday reported production results for the second quarter of fiscal year 2026, ended March 31, 2026, and provided an update on the Oxides Stockpile Project at its Don Mario operation in Bolivia.
Among highlights, the company had consolidated production of 10,738 of gold equivalent ounces during Q2 FY2026, Orovalle, the company's subsidiary in Spain, produced 9,827 GEO (8,464 gold ounces, 0.8 million copper pounds and 25,424 silver ounces). EMIPA, the company's subsidiary in Bolivia, produced dore during Q2 FY2026 as part of the phased restart of the Don Mario operation, contributing 911 GEO (893 gold ounces and 1,055 silver ounces) during the quarter.
On outlook, Orvana said Orovalle is "on track" to meet FY2026 production guidance, based on results to date and current operating assumptions, and EMIPA is "on track" to meet FY2026 production guidance, based on results to date and current operating assumptions.
On its oxides stockpile project, ORV noted the Don Mario operation, located in the Don Mario district in southeastern Bolivia, is owned and operated by EMIPA, Orvana's Bolivian subsidiary. Mining and milling operations at Don Mario were temporarily suspended in the first quarter of fiscal 2020 following depletion of the mineral reserves then being mined.
The company said it is now advancing the Oxides Stockpile Project, which is designed to process oxide material that was stockpiled during previous years of mining at Don Mario. The project includes an expansion and upgrade of Don Mario Processing Plant to optimize the recovery of copper, gold and silver from these stockpiles.
Juan Gavidia, CEO of Orvana, said: "Q2 FY2026 marks the restart of dore production at Don Mario in Bolivia, a significant milestone for Orvana. Operations in both Bolivia and Spain are performing in line with current expectations for FY2026 production guidance. We are pleased to be operating two production units again and are focused on completing the ramp-up and integration of the processing circuits at Don Mario, with the objective of increasing production levels over the coming quarters."
Shares in ORV were down 4% in Canada yesterday.