TORONTO, March 6, 2020 /CNW/ - Orvana Minerals Corp.
(TSX: ORV) (the "Company" or "Orvana") announced today that, at
its annual shareholders' meeting (the "Meeting") held on
March 5, 2020, the individuals noted
below were elected as directors of the Company. The report on
proxies provided by the Company's transfer agent indicated the
following:
George Darling received
75,391,125 votes (representing 97.78% of votes cast); Alan Edwards received 75,388,989 votes
(representing 97.78% of votes cast); Alfredo Garcia Gonzalez received 75,391,489
votes (representing 97.78% of votes cast); Ed Guimaraes received 75,389,339 votes
(representing 97.78% of votes cast); Sara
Magner received 75,389,489 votes (representing 97.78% of
votes cast); and Gordon Pridham
received 75,389,489 votes (representing 97.78% of votes cast).
Mr. Gordon Pridham was
re-appointed as chairman of the board of directors; Mr.
Juan Gavidia was re-appointed Chief
Executive Officer; Ms. Nuria
Menendez was re-appointed Chief Financial Officer; and Mr.
Binh Vu was re-appointed Corporate
Secretary/VP Legal Affairs, immediately after the
Meeting.
The Company also reports the re-appointment of
PricewaterhouseCoopers LLP as the Company's independent
auditor.
For full voting details please see Orvana's voting results as
filed on SEDAR at www.sedar.com.
ABOUT ORVANA Orvana is a multi-mine gold-copper-silver
company. Orvana's assets consist of the producing El Valle and
Carlés gold-copper-silver mines in northern Spain, and the Don Mario gold-silver property
in Bolivia, currently in care and
maintenance. Additional information is available at Orvana's
website (www.orvana.com).
Cautionary Statements - Forward-Looking
Information
Certain statements made herein constitute
forward-looking statements or forward-looking information within
the meaning of applicable securities laws ("forward-looking
statements"). Any statements that express or involve discussions
with respect to predictions, expectations, beliefs, plans,
projections, objectives, assumptions, potentials, future events or
performance (often, but not always, using words or phrases such as
"believes", "expects", "plans", "estimates", "intends" or
"anticipates" or stating that certain actions, events or results
"may", "could", "would", "might", "will" or "are projected to" be
taken or achieved) are not statements of historical fact, but are
forward-looking statements.
The forward-looking statements herein relate to, among other
things, Orvana's ability to achieve improvement in free cash flow;
the potential to extend the mine life of El Valle and Don Mario
beyond their current life-of-mine estimates including specifically,
but not limited to in the case of Don Mario, the processing of the
mineral stockpiles and the reprocessing of the tailings material;
Orvana's ability to optimize its assets to deliver shareholder
value; the Company's ability to optimize productivity at Don Mario
and El Valle; estimates of future production, operating costs and
capital expenditures; mineral resource and reserve estimates;
statements and information regarding future feasibility studies and
their results; future transactions; future metal prices; the
ability to achieve additional growth and geographic
diversification; future financial performance, including the
ability to increase cash flow and profits; future financing
requirements; and mine development plans.
Forward-looking statements are necessarily based upon a
number of estimates and assumptions that, while considered
reasonable by the Company as of the date of such statements, are
inherently subject to significant business, economic and
competitive uncertainties and contingencies. The estimates and
assumptions of the Company contained or incorporated by reference
in this news release, which may prove to be incorrect, include, but
are not limited to, the various assumptions set forth herein and in
Orvana's most recently filed Management's Discussion & Analysis
and Annual Information Form in respect of the Company's most
recently completed fiscal year (the "Company Disclosures") or as
otherwise expressly incorporated herein by reference as well as:
there being no significant disruptions affecting operations,
whether due to labour disruptions, supply disruptions, power
disruptions, damage to equipment or otherwise; permitting,
development, operations, expansion and acquisitions at El Valle and
Don Mario being consistent with the Company's current expectations;
political developments in any jurisdiction in which the Company
operates being consistent with its current expectations; certain
price assumptions for gold, copper and silver; prices for key
supplies being approximately consistent with current levels;
production and cost of sales forecasts meeting expectations; the
accuracy of the Company's current mineral reserve and mineral
resource estimates; and labour and materials costs increasing on a
basis consistent with Orvana's current expectations.
A variety of inherent risks, uncertainties and factors, many
of which are beyond the Company's control, affect the operations,
performance and results of the Company and its business, and could
cause actual events or results to differ materially from estimated
or anticipated events or results expressed or implied by forward
looking statements. Some of these risks, uncertainties and factors
include fluctuations in the price of gold, silver and copper; the
need to recalculate estimates of resources based on actual
production experience; the failure to achieve production estimates;
variations in the grade of ore mined; variations in the cost of
operations; the availability of qualified personnel; the Company's
ability to obtain and maintain all necessary regulatory approvals
and licenses; the Company's ability to use cyanide in its mining
operations; risks generally associated with mineral exploration and
development, including the Company's ability to continue to operate
the El Valle and/or Don Mario and/or ability to resume long-term
operations at the Carlés Mine; the Company's ability to
successfully implement a sulphidization circuit and ancillary
facilities to process the current oxides stockpiles at Don Mario;
the Company's ability to acquire and develop mineral properties and
to successfully integrate such acquisitions; the Company's ability
to execute on its strategy; the Company's ability to obtain
financing when required on terms that are acceptable to the
Company; challenges to the Company's interests in its property and
mineral rights; current, pending and proposed legislative or
regulatory developments or changes in political, social or economic
conditions in the countries in which the Company operates; general
economic conditions worldwide; and the risks identified in the
Company's disclosures. This list is not exhaustive of the
factors that may affect any of the Company's forward-looking
statements and reference should also be made to the Company's
Disclosures for a description of additional risk
factors.
Any forward-looking statements made herein with respect to
the anticipated development and exploration of the Company's
mineral projects are intended to provide an overview of
management's expectations with respect to certain future activities
of the Company and may not be appropriate for other
purposes.
Forward-looking statements are based on management's current
plans, estimates, projections, beliefs and opinions and, except as
required by law, the Company does not undertake any obligation to
update forward-looking statements should assumptions related to
these plans, estimates, projections, beliefs and opinions change.
Readers are cautioned not to put undue reliance on forward-looking
statements.
Nuria Menéndez, Chief Financial Officer, E:
nmenendez@orvana.com; Joanne Jobin,
Investor Relations Officer, E: jjobin@orvana.com, T: 647 964
0292