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Gold/Mining/Energy : Precious and Base Metal Investing
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To: russwinter who wrote (9846)4/16/2003 1:32:03 PM
From: BSGrinder  Read Replies (1) of 39344
 
Anyone know anything about Orvana Minerals (ORV.to)? Here is an excerpt from an interview with John Embry, who has had outstanding results running gold funds:

A: One of the names that I am excited about is Orvana Minerals Corp. (ORV.TO), which operates in Bolivia. They are just bringing a mine into production, and it will be a 70,000 ounce producer right at the start, with operating costs of probably less than $100/ounce to take it out of the ground. The greater appeal is that the ore body is open at depth and the last hole that they drilled at depth is the richest or richer than the existing ore body. There is a lot of potential at depth and a lot of potential along strike because the company, for the longest time, didn’t have enough money to explore. Now they will throw off a lot of cash flow. They also have second ore body, so that if the gold price rises into the $375 area, it represents another couple of million ounces. It has everything that I am looking for — production coming on, as well as a great amount of potential in the existing areas where production is going to be, and a secondary ore body that will provide more leverage in the event that the gold price goes higher.

kitco.com
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