Thursday, 12 July 2012

Orvana Minerals appoints new director to board

Orvana Minerals Corp. (TSE:ORV) reported on Thursday the appointment of mining consultant Brent Cochrane to its board of directors.
Cochrane, an independent mining finance consultant since 2004, has worked in the mining industry more than 32 years.
From 2001 to 2004, he took on the role of vice president of finance and administration at Compania Minera Antamina S.A.
Prior to that, he worked for Rio Algom Limited in corporate development and treasury positions.
“We are pleased to welcome Mr. Cochrane to the board, his financial expertise will be an asset to Orvana," chairman Ron Simkus said in a statement.
Earlier this week, Orvana reported June production results for its Don Mario Upper Mineralized Zone mine in Bolivia on Tuesday.
The Don Mario UMZ mine is an open-pit mine, which started commercial production in January this year.
The mineral producer said June production for copper reached 1.24 million pounds, higher than both April and May, recording head grades of 1.99 per cent, while recovery rates were 50.3 per cent.
Gold production reached 1,270 ounces, with head grades of 1.71 gram per tonne (g/t) and a recovery rate of 41 per cent.
Silver production, meanwhile, totalled 57,454 ounces, with a head grade of 95.2 g/t and recovery rate of 33 per cent.
The company saw output of 56,419 tonnes in June, and 179,923 during the third quarter.
The Toronto-based miner’s flagship property is the El Valle Boinas-Carles project in northern Spain, and also owns and operates the Don Mario mine in Bolivia.
Recently, it completed a feasibility study and snagged a mine permit from the Michigan Department of Environmental Quality for its Copperwood copper project in Michigan, U.S.

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