Orvana's primary asset is the El Valle-Boinas/Carles gold-copper mine in northern Spain.It also owns and operates the Don Mario Mine in Bolivia,processing its copper-gold-silver Upper Mineralized Zone deposit,and is advancing its Copperwood copper project in Michigan,USA.
Orvana Minerals Corp reported an adjusted fourth quarter profit as revenues more than quadrupled from the same period last year.
Mr Bill Williams president and CEO said that"Our financial performance greatly improved in the fourth quarter,ending the 2012 fiscal year on a positive note."
"With the UMZ operation stabilized and EVBC Mine recovering from the ground stability issues,in addition to getting the shaft operational,we expect fiscal 2013 to be very successful both operationally and financially."
For the quarter that ended September 30,the multi-mine gold and copper producer reported a net loss of USD 2,007,compared to a profit of USD 8,037 in the fourth quarter of fiscal 2011.
