ORVANA REPORTS Q3 FY2026 PRODUCTION RESULTS AND PROVIDES UPDATE ON OXIDES STOCKPILE PROJECT AT DON MARIO, BOLIVIA
Orvana’s oxide restart at the Epima project nears completion despite Bolivia disruptions that have led to a cut in FY2026 guidance.
Orvana Minerals Corp. (ORV) reported third-quarter FY2026 production of 10,833 gold equivalent ounces (GEO). At its Orovalle operation in Spain, the company produced 9,656 ounces of gold, a 14% increase quarter-over-quarter, alongside 643,000 pounds of copper, which represented a 17% decline quarter-over-quarter, and 19,487 ounces of silver.
Production at the EMIPA mine in Bolivia was zero for the quarter due to logistics disruptions that delayed the start of the oxide stockpile project. However, all preparations for oxide ore processing at EMIPA are now complete, with the company expecting to begin feeding oxide ore into the plant in the coming days. Orvana plans to provide revised EMIPA guidance in its Q3 MD&A, expected in mid-August 2026. Meanwhile, the Orovalle operation remains on track to meet its full-year production guidance of 34,000 to 37,000 ounces of gold and 2.7 to 3.0 million pounds of copper.
Orvana Minerals Corp. (ORV) issued a routine production update containing no financial figures. The market was already aware that EMIPA had no Q3 production due to Bolivian blockades, which were disclosed on May 25 and resolved on July 7. The release confirmed that logistics are cleared and oxide feed is about to start, a development that is modestly positive. However, the implicit need for a guidance cut, to be formalized in August, is a negative.
The stock has recovered from approximately $1.44 to $1.90 ahead of this release, suggesting the market already priced in both the disruption and the restart timeline. The release itself does not move the needle materially. The mix of operational progress in Spain with a delayed ramp-up in Bolivia nets to Neutral.
Orvana Minerals Corp. (ORV) is a Toronto-headquartered gold-copper producer that owns 100% of its assets, including two operating mines and a major exploration project. The company’s Orovalle asset in Spain has been in continuous production since 2011, while its EMIPA mine in Bolivia is scheduled to resume output in 2026 following a multi-year idling period. The company’s strategy focuses on extracting value from oxide stockpiles at Don Mario and testing a deep porphyry target at its Taguas project in Argentina.