ORVANA ANNOUNCES FIRST GOLD-SILVER DORE BAR FROM ITS OXIDES STOCKPILE PROJECT IN BOLIVIA
Orvana’s oxide first pour at Don Mario de-risks the project, though throughput and costs remain unproven.
Orvana Minerals Corp. (ORV) announced that its Bolivian subsidiary, EMIPA, produced the first gold-silver doré bar from oxide material stockpiled at Don Mario. The release states that this first oxide doré pour confirms the expanded Don Mario plant’s metallurgical performance is in line with design and engineering assumptions.
Management indicated that the focus is on ramp-up, specifically increasing throughput, optimizing metallurgical performance, and progressing toward full commercial production of gold-silver doré and copper cathodes. FY2026 production levels are explicitly caveated as depending on ramp-up progress, plant performance, and circuit stabilization.
The announcement contains no production volumes, bar weight, throughput, grade, recovery, AISC, cash flow, or updated full-year guidance. This development is scoped to the Don Mario Oxide Stockpile Project in Bolivia only; Orovalle in Spain and Taguas in Argentina are not addressed.
Orvana Minerals Corp. (ORV) achieved an operational milestone with the first oxide doré pour, confirming that its upgraded plant can process oxide stockpiles and produce gold-silver doré. The event was telegraphed, as August 2026 disclosures already indicated that oxide processing was in commercial ramp-up, with stable commercial production targeted for September 2026.
The market had already repriced the Don Mario restart story prior to the release. The share price rose from C$2.11 on 2026-08-13 to C$2.68 on 2026-09-04, a gain of about 27% before this announcement.
No new production, cost, grade, recovery, or financial data are included in the release. There is no announced gold/silver pour size, no first copper cathode, no first revenue from oxide production, and no upgrade to guidance.
Orvana Minerals Corp. is a Toronto-based multi-mine gold-copper-silver company with 100% controlled assets in Spain, Bolivia, and Argentina. Its portfolio includes the producing Orovalle operation in northern Spain, the Don Mario operation in Bolivia, and the Taguas property in Argentina.
The Orovalle operation comprises the El Valle-Boinás and Carlés mines along with the El Valle processing plant. Don Mario is currently restarting operations through the Oxides Stockpile Project, which features copper cathode circuits and an upgraded gold-silver ADR circuit. Taguas remains an exploration-stage asset focused on potential deep porphyry copper-gold mineralization.
Juan Gavidia has served as CEO since 2018, while CFO Nuria Menéndez also holds the position of general manager at Orovalle.