Orvana Minerals Corp. · TSX:ORV
Orvana Minerals — Investor Presentation (December 2020)
30 slides from Orvana Minerals's investor presentation, December 2020
Slide 1: Committed to Sustainable Growth – Corporate Presentation
COMMITTED TO SUSTAINABLE GROWTH Corporate Presentation December 2020 TSX|ORV COMMITTED TO SUSTAINABLEO R GROWTH VANA.COM
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS All monetary amounts in U.S. dollars unless otherwise stated. Certain statements in this presentation constitute forward-looking statements or forward-looking information within the meaning of applicable securities laws (“forward-looking statements”). Any statements that e
Slide 3: Strategic Highlights
STRATEGIC HIGHLIGHTS Guidance • Stable production at 60k Au OzEq-plus • 5-Year mine plan at any time OROVALLE, • Comprehensive brownfield exploration program SPAIN (Boinás & Carlés) • Regional greenfield exploration (45k ha land package) • New Oxides Processing Circuit (2M dmt stockpile) EMIPA, • Do
Slide 4: Investment Highlights
INVESTMENT HIGHLIGHTS Gold Gold Gold ozoz oz Production Production Production ASTURIAS, SPAIN Don Mario El Valle El Valle Don Mario El Valle Don Mario OROVALLE Au, Cu, Ag 120,000 120,000 120,000 FY2019: Au 64,327 oz production 103,384 103,384 103,384 Cu 5.0 M lbs production 97,259 97,259 97,259 COC
Slide 5: Company Snapshot
COMPANY SNAPSHOT OVERVIEW All in US$ unless otherwise noted Ticker TSX:ORV Unrestricted Cash (09/30/20) $15.6M Common Shares O/S 136.6M Total Debt (09/30/20) $19.2M Options / Warrants (12/01/20) 646K/NIL Fiscal Year End Sept 30 Stock Price (12/01/20) C$0.26 Majority Shareholder (51.9%) Fabulosa Mine
Slide 6: Selected Financials
SELECTED FINANCIALS Revenue EBITDA OCF before Non-cash Working Capital Changes 160,000 Revenue 20,000 20,000 160,000 $145,836 $18,065 $18,312 $145,836 $136,400 $135,544 16,000 120,000 15,000 $13,750 120,000 $101,994 $11,864 12,000 US$ 000's 000's US$ 000's US$000's 80,000 $9,544 80,000 10,000 $8,959
Slide 7: Spain – Orovalle
SPAIN – OROVALLE Gijon El Valle Au, Cu, Ag SPAIN Ownership – 100% Statistics FY 2019 Au / Cu Production 64.3k Au oz / 5.0M Cu lbs FY 2020 Au / Cu Production 51.1k Au oz / 5.6M Cu lbs FY 2019 COC / AISC $1,004 / $1,185 oz Au FY 2020 COC / AISC $1,151 / $1,385 oz Au FY 2020 Plant Recoveries 92.7% Au /
Slide 8: Orovalle Production
OROVALLE PRODUCTION Gold oz Production 2021 Initiatives 75,000 64,327 Guidance • Maintain stable production with high levels of 58,259 51,104 55,000 50,000 50,000 safety and productivity • Continue unitary costs reduction programs 25,000 • Convert mineral resources into mineral - reserves beyond ann
Slide 9: Bolivia – Emipa
BOLIVIA – EMIPA 2021 Initiatives Oxide Stockpile Project - OSP • Subject to favourable completion of technical, economic and funding analysis, OSP is expected to require twelve months of development to start commercial production La Paz Don Mario Mine • Final evaluation of the Project planned by Q3
Slide 10: Argentina – Taguas Mine Project
ARGENTINA – TAGUAS MINE PROJECT Agreement to purchase property announced May 14, 2019 • Related-party transaction via 51.9% shareholder • Transfer of 100% of property for 2.5% NSR on all future production • Closing of transaction subject to TSX final acceptance • PEA announced June 28, 2019 • Potent
Slide 11: Exploration & Business Development
EXPLORATION & BUSINESS DEVELOPMENT BOLIVIA SANTA CRUZ DON MARIO NEAR MINE REGIONAL COUNTRY EXPLORATION EXPLORATION OPPORTUNITIES EL VALLE & CARLÉS ASTURIAS ARGENTINA SPAIN OTHER (PERÚ, ECUADOR, BRASIL) TSX|ORV COMMITTED TO SUSTAINABLE GROWTH 10
Slide 12: El Valle Near Mine Exploration
EL VALLE NEAR MINE EXPLORATION East Breccia Legend: In Progress Mining N El Valle Fault Future Mining Exploration Potential West Skarn Growth Potential Charnela Area 208 Black Skarn A107 Boinas East Villar San Martín S107 Boinas South High Angle East TSX|ORV High Angle COMMITTED TO SUSTAINABLE GROWT
Slide 13: El Valle Exploration: High Angle East
EL VALLE EXPLORATION: HIGH ANGLE EAST New gold structure located in the southeastern part of El Valle deposit was discovered in 2020: • Drillhole highlights: 20HA34: 3.25m. at 50.44 g/t Au 20HA35: 20.35m. at 6.14 g/t Au 20HA40: 25.40m. at 5.50 g/t Au • Ag and Cu also economic (up to 216 g/t Ag and 4
Slide 14: Orovalle Regional Exploration
OROVALLE REGIONAL EXPLORATION Northern Spain Major Regional Gold Belts • Region has been mined for over 2,000 years Regional targets based on 45,163 ha land package • Ortosa – Godán − In Río Narcea gold belt − 3Km NW of Carlés − Several targets already identified with drilling • Lidia − In Navelgas
Slide 15: Ortosa - Godán
ORTOSA - GODÁN CARLES DEPOSIT Background A’ EL VALLE PIT • Located close to Carlés deposit A107 • Airborne Geophysics A A208 • Geochemistry / Surface sampling • 37 DDH completed , 9,833m (1981-2011) • Skarn and oxide mineralization intersected ORTOSA GODAN Exploration program FY2021: TARGET • 9 DDH
Slide 16: Lidia
LIDIA Skarn Targe t Area Background • Detailed mapping/ rock sampling • Historical soil geochemistry showing Au anomalies over the intrusive Skarn • Geophysics: 4 IP lines with interesting anomalies Targe • Drilling: 5DDH 1998-2005: 1,472 m. completed t Area Exploration program H1 FY2021: • 4,000m d
Slide 17: Don Mario Near Mine Exploration
DON MARIO NEAR MINE EXPLORATION Targets based on N 58,325 ha Land Package Las Tojas Don Mario Package • Mineralized structures over 2 belts • Variety of greenfield targets are being explored for future satellite deposits Cerro Félix Don Mario Exploration Program • Review 30 years of historical explo
Slide 18: Emipa Regional Exploration
EMIPA REGIONAL EXPLORATION San Ramon: • Three potential prospects located 3 hours east of Santa Cruz • Infrastructure includes: San Ramon International paved road, and smaller 15Km cobble stone road SAN RAMON AREA Evaluating new permit applications in underexplored Eastern Bolivia TSX|ORV COMMITTED
Slide 19: Taguas Mine Project
TAGUAS MINE PROJECT • Located in high Andes of San Juan Province, Argentina Access to site: Via Tudcum, road services Barrick’s Veladero Mine, 25 km N-NE • Highly prolific belt for world-class deposits • Consisting of 15 individual claims/concessions – 3,273.87 ha 100% owned by Orvana • Advanced
Slide 20: Taguas Gold Targets
TAGUAS GOLD TARGETS Identified 17 new high probability gold targets using Artificial Intelligence (September 2020) • Including 9 new areas and 8 extended areas of previous known mineralization • All of the targets identified are based on a 96% level of similarity to the known gold mineralization • O
Slide 21: Taguas PEA
TAGUAS PEA Highlights of PEA (June 2019) Estimate of Inferred Mineral Resource Reported at 0.25 g/t Au eq Cut-off Tonnes Contained Metal COG g/t Au Ag AuEq Mt AuEq g/t Au Ag g/t g/t koz koz 0.20 49.6 0.35 12.7 0.45 556 20,237 0.25 38.6 0.40 14.6 0.51 494 18,110 0.30 30.0 0.45 16.5 0.58 435 15,894 No
Slide 22: A Case for Investment
A CASE FOR INVESTMENT Multi Mine Producer - Gold, Copper, Silver Focused on Spain / Latin America OROVALLE: Stable production at 60k Au OzEq-plus Significant Exploration Potential EMIPA: New Oxides Processing Circuit (2M dmt stockpile) TAGUAS: Resource increase combining oxides and sulphides PRODUCT
Slide 23: Appendix
a p p e n d i x TSX|ORV COMMITTED TO SUSTAINABLE GROWTH 22
Slide 24: Fiscal 2021 Guidance
FISCAL 2021 GUIDANCE ORVANA OROVALLE CONSOLIDATED GUIDANCE (El Valle Mine) FY 2021 FY 2020 FY 2020 Low High Low High Guidance Actual Actual Gold oz 50,000 55,000 53,421 50,000 55,000 51,104 Production Copper 000’s lbs 7,000 8,500 5,611 7,000 8,500 5,611 Production COC $/oz Au $1,200 $1,300 $1,278 $1
Slide 25: Management & Directors
MANAGEMENT & DIRECTORS Juan Gavidia 25 years mining sector experience. Spearheaded business initiatives and operational support for international projects as independent CEO consultant and executive of Newmont and subsidiaries. Focus on Au/Cu across Americas & Europe Nuria Menéndez 20 years finance
Slide 26: El Valle Reserves & Resources
EL VALLE RESERVES & RESOURCES El Valle Mineral Reserve Estimates2 – Sept. 30, 2019 Tonnes Grade Contained Metal (000’s) Au Cu Ag Au Ounces Cu Tonnes Category (g/t) (%) (g/t) (000’s) (000`s) Total Proven Reserves 975 2.81 0.70 15.54 88.0 6.9 Total Probable Reserves 1,153 3.86 0.39 6.07 143.0 4.5 Tota
Slide 27: Notes to El Valle Reserves & Resources
NOTES TO EL VALLE RESERVES & RESOURCES Notes to the El Valle Mineral Reserve table: 1. CIM definitions were followed for mineral reserves. 2. Mineral reserves are estimated using gold equivalent break-even cut-off grades by zone and mining method, consisting of 4.35 g/t AuEq for El Valle cut and fil
Slide 28: Don Mario Resources
DON MARIO RESOURCES In-Situ Don Mario Mineral Resource Estimates1 – Sept. 30, 2019 Tonnes Grade Contained Metal (000’s) Au Cu Ag Au Ounces Cu Tonnes Category (g/t) (%) (g/t) (000’s) (t) Total Measured Resources 661 1.55 0.11 2.05 33.0 705.0 Total Indicated Resources 725 1.50 0.11 2.00 35.0 876.0 Tot
Slide 29: Don Mario Reserves & Resources
DON MARIO RESERVES & RESOURCES Stockpile Don Mario Mineral Reserves & Mineral Resource Estimates1 – Sept. 30, 2019 Tonnes Grade Contained Metal (000’s) Au Cu Ag Au Ounces Cu Tonnes Category (g/t) (%) (g/t) (000’s) (t) Total Proven Reserves 2,032 1.85 1.89 49.32 120.9 38,438 Total Probable Reserves 0
Slide 30: Contact
COMMITTED TO SUSTAINABLE GROWTH CONTACT: Orvana Minerals Corp Joanne Jobin Investor Relations Officer 70 York Street, Suite 1710 Toronto, Ontario Canada M5J 1S9 jjobin@orvana.com T 416-369-1629 W orvana.com T 647 964 0292 Nuria Menendez Chief Financial Officer TSX|ORV COMMITTED TO SUSTAINABLE GROWTH
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