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Update: Orvana's Q1 Financials Show A Large Capital Position, Low Operating Costs

Orvana Minerals (OTCPK:ORVMF) just reported strong financials for the first quarter of 2015 (ended Dec. 31st). The company has a $20 million cash position while it has paid down its debt to just $3.5 million putting the company in a robust capital position. Further, the company's capital position is sizable considering the company's ~$48 million valuation. Furthermore, Orvana's gold production grew 18% while its copper production soared 48%. Meanwhile all-in sustaining costs were just $949/oz., although keep in mind that this includes copper (and to a lesser extent silver) offsets.

The company is set to produce 82,000 - 94,000 ounces of gold for its fiscal 2015 (ended 9/30/2015) and 20-23 million pounds of copper.

If the company can keep its costs down these are extremely promising metrics with pre-tax cash flow coming in at over $25 million. With the cash backed out this means the company trades at just… Read More …