{"id":1148917,"date":"2019-11-08T17:03:16","date_gmt":"2019-11-08T23:03:16","guid":{"rendered":"https:\/\/www.mining.com\/?p=1006419"},"modified":"2019-11-08T17:03:16","modified_gmt":"2019-11-08T23:03:16","slug":"orvana-minerals-to-suspend-operations-at-los-tojas-in-bolivia-stock-down","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1148917","title":{"rendered":"Orvana Minerals to suspend operations at Los Tojas in Bolivia, stock down"},"content":{"rendered":"<p>Orvana Minerals Corp. (TSX: ORV) <a href=\"https:\/\/www.orvana.com\/English\/news\/news-details\/2019\/Orvana-provides-updates-on-its-Bolivian-and-Spanish-operations\/default.aspx\"  rel=\"noreferrer noopener\" aria-label=\"announced Friday that it will suspend  (opens in a new tab)\">announced Friday that it will suspend <\/a>mining operations at its Las Tojas gold mine in Bolivia effective on or before\u00a0December 31, 2019. <\/p>\n<div class='d-flex justify-content-center'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>Orvana said it is suspending operations at<br \/>\nthe mine, wholly owned through its subsidiary Empresa Minera Paititi, SA,&nbsp;(EMIPA) because<br \/>\nof a higher than expected ore-grade operational mining dilution with more<br \/>\nnarrow, erratic and discontinued mineralized structures, which is resulting in<br \/>\nuneconomic unitary cost per ounce.<\/p>\n<p>The Canadian-based junior miner said that notwithstanding the<br \/>\nsuspension of mining operations at Las Tojas, the previously announced<br \/>\ndevelopment and engineering of the oxides stockpile that has accumulated from<br \/>\npast mining activities at Don Mario continues to advance. <\/p>\n<p>Earlier this year, <a rel=\"noreferrer noopener\" aria-label=\"Orvana posted a relatively strong fiscal second quarter  (opens in a new tab)\" href=\"https:\/\/www.mining.com\/orvana-squeaks-3m-profit-q2-moves-argentina\/\" >Orvana posted a relatively strong fiscal second quarter <\/a>ended March 31, with good performance from its two operating mines &#8211; Don Mario and the El Valle gold-copper mine in Spain.<\/p>\n<p>At Don Mario during the second quarter, Orvana produced 9,564 oz. gold, or 11% less than in the first fiscal quarter but almost the same as the year-go quarter.<\/p>\n<p>&#8220;Given the anticipated near-term transition into our Oxides Stockpile Project, it is the right decision to suspend operations at Don Mario to mitigate a higher unitary cost burden onto the Company,\u201d Juan Gavidia, Orvana\u2019s CEO said in the media release. \u201cSubject to a favourable outcome of the analysis of the feasibility of the oxides stockpile, we are committed to funding and building the Oxides Stockpile Project, which is expected to commence in early FY2021, with 33 months of expected low-cost gold and copper production.&#8221;\u00a0\u00a0<\/p>\n<p>Gavidia added that operations at Elle Valle remain stable, and delivery<br \/>\nof gold production \u201cremains sustainable.&#8221;<\/p>\n<p>Orvana\u2019s shares closed Friday down 22%. The day\u2019s trading volume reached 743,300. The average volume is 121,714. The company has a C$19.6 million-market capitalization. <\/p>\n<p><em>(With files from <a href=\"https:\/\/www.northernminer.com\/\">The Northern Miner)<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Canadian miner said operations at Elle Valle in Spain remain stable, and delivery of gold production &ldquo;remains sustainable.&#8221;<\/p>\n","protected":false},"author":47,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[2849,369,4],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1148917"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/47"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1148917"}],"version-history":[{"count":4,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1148917\/revisions"}],"predecessor-version":[{"id":1148946,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1148917\/revisions\/1148946"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1148917"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1148917"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1148917"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}