Orvana Minerals (ORV) Mining Forum Europe 2026 summary

Strategic project updates

• Operations span Spain (producing mine), Bolivia (project restarting this quarter), and Argentina (active exploration).

• Second production unit in Bolivia will transform production profile this year.

• Exploration in Argentina is advancing with a deep drilling campaign targeting a large geophysical anomaly.

• Spanish unit maintains stable gold production with ongoing resource expansion and a five-year mine life.

• Bolivian EMIPA unit launching a new acid leaching circuit for gold and copper, with ramp-up underway.

Production and financial outlook

• Gold production expected to rise from 35,000 oz to 65,000 oz next year with Bolivian output.

• Copper production projected to increase from 4 million lbs to 19 million lbs next year.

• Oxide Stockpile Project in Bolivia aims for 100,000 oz gold and 57 million lbs copper over three years.

• Initial six-month ramp-up in Bolivia targets 13,000–14,000 oz gold and 7 million lbs copper.

• Last quarter revenue was $32 million, EBITDA $11 million, and CapEx $17 million, mainly for Bolivia.

Exploration and resource development

• Argentina’s Taguas Project is in a prolific mining corridor, with deep drilling following geophysical success.

• First deep drill hole intercepted expected intrusive rock and alteration, providing key geological data.

• Spain’s El Valle mine continues to replenish resources through brownfield and greenfield exploration.

• Land packages: 30,000 ha in Spain and 53,000 ha in Bolivia offer further exploration potential.

• Argentina drilling results will guide next exploration steps, aiming to define a larger prospect at depth.