Dino's Bar & Grill Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Dino's Bar & Grill

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: Goose94	11/25/2014 1:32:59 PM
	Read Replies (1) of 203577

Orvana Minerals (ORV-T) "An eye opener!!" Nov 11th 2014 - News Release Retirement of $64 million EVBC Loan with Final Payment of US$8 million - Full Repayment Two Years in Advance of Original Maturity Date *Orvana Minerals* announced that Kinbauri España S.L.U. ("Kinbauri"), its wholly-owned Spanish subsidiary, completed early repayment of its US$64 million loan (the "EVBC Loan") relating to its El-Valle Boinás and Carlés Operation ("EVBC") located in the north of Spain. Proceeds from the EVBC Loan were used to put EVBC into production in 2012. The final payment of US$8 million was made on November 10, 2014."Retirement of the EVBC Loan in two years is a significant accomplishment for Orvana's management team" said Daniella Dimitrov, Chief Financial Officer of Orvana. "This now puts Orvana in a positive free cash flow generation position even at current metals prices and provides greater strength to Orvana's balance sheet." The Company commenced repayments under the EVBC Loan in July 2012 and the original maturity date was September 30, 2016. In July 2014, the Company accelerated repayments and revised the maturity date to November 30, 2014. The Company repaid the EVBC Loan primarily from operating cash flows. At present, the Company's only outstanding debt that remains in place is US$10 million with Bolivian local banks for the Don Mario operations. About Orvana Orvana Minerals is a multi-mine gold and copper producer. Orvana's operating assets consist of the producing EVBC gold-copper mines in northern Spain and the producing gold-copper-silver Don Mario Mine in Bolivia. Additional information is available at Orvana's website ( www.orvana.com).

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next