Orvana Minerals Corp Reports Strong Q1 FY2026 Results and Updates on Bolivian Operations
Orvana Minerals Corp Q1 FY2026 Report
Orvana Minerals Corp. (TSX: ORV) recently announced its financial results for the first quarter ending December 31, 2025, demonstrating a commitment to growth and operational efficiency, particularly within its Bolivian operations. CEO Juan Gavidia expressed the company's excitement about commencing trial processing at the Don Mario plant, a significant step towards resuming metal production in Bolivia.
Operational Updates from Bolivia
The Bolivian subsidiary Empresa Minera Paitití, S.A. (EMIPA) has started operational trials by processing legacy sulfide ore through the Au-Ag circuit, part of the plant's restart process. Initial doré production is expected to commence in late February 2026, contingent upon the successful completion of performance verification activities.
Upcoming operational milestones include the finishing of construction on the Cu circuits and the gradual integration of all processing circuits. Full commissioning of the Don Mario plant is anticipated to be achieved by early Q3 FY2026. Additionally, processing of oxide stockpiles is planned to begin shortly after, with a goal to attain full operational capacity by Q4 FY2026. The trajectory of the ramp-up will rely heavily on the performance of the plant, reliability of the equipment, and optimization of operating parameters.
In previous reports, EMIPA showcased successful results from an on-site pilot test conducted on representative oxide material, enabling informed planning for oxide stockpile processing. For FY2026, a conservative estimate for Au–Ag–Cu recoveries has been established, accounting for ongoing ramp-up adjustments and process efficiency enhancements that are expected to provide better production and recovery rates over time.
Production Planning for Oxide Stockpiles
The following outlines production forecasts for oxide stockpile ore:
| Category | H2 FY2026 | FY2027 – FY2029 | Total |
|---|---|---|---|
| ----- | --- | ---- | ---- |
| Oxides milled (dmt) | 256,288 | 1,532,831 | 1,789,119 |
| Gold Grade (g/t) | 1.85 | 1.85 | 1.85 |
| Gold Recovery (%) | 85.5 | 94.0 | 92.8 |
| Gold Production (oz) | 13,039 | 85,701 | 98,740 |
| Silver Grade (g/t) | 42.72 | 42.72 | 42.72 |
| Silver Recovery (%) | 74.7 | 76.5 | 76.2 |
| Silver Production (oz) | 262,966 | 1,609,471 | 1,872,437 |
| Copper Grade (%) | 1.87 | 1.87 | 1.87 |
| Copper Recovery (%) | 71.2 | 78.0 | 77.0 |
| Copper Production ('000 lbs) | 7,521 | 49,289 | 56,810 |
Note: These production estimates relate specifically to oxide stockpile material and are subject to change based on operational factors.
Financial Guidance for FY2026
Orvana's guidance for FY2026 foresees robust metal production fueled by the processing of both oxide stockpiles and legacy sulfide ore at the Don Mario operation. Anticipated total metal production estimates are:
- - Gold: 13,000 – 14,000 ounces
- - Copper: 6.7 – 7.5 million pounds
Cash operating costs are projected to be between $1,900 - $2,300 per ounce of gold and $2.60 - $3.20 per pound of copper. All-in sustaining costs for gold are expected to be in the range of $2,200 - $2,600 per ounce and for copper, $2.90 - $3.50 per pound.
The company's production and cost guidance considers planned activities in the expansion of the Don Mario plant, emphasizing the importance of meeting set milestones as operational strategies evolve.
Developments in Other Regions
In Argentina, the drilling program at the Taguas property aims to explore its deep porphyry copper-gold potential. Initial drilling began in January 2026 and is expected to provide valuable insights into this promising area.
In Spain, Orovalle reported a production of 10,576 gold equivalent ounces in Q1 FY2026, reflecting a noteworthy increase over the previous quarter. The mill operated at heightened capacity, contributing to overall positive production metrics.
Conclusion
Orvana Minerals Corp. continues to demonstrate resilience and strategic planning as it navigates its operational landscape. With the positive developments reported in Bolivia and elsewhere, the company appears poised for enhanced production capabilities and overall growth throughout FY2026 and beyond.
Topics General Business）
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