Orvana Minerals Co.

Orvana has acquired the Evelina claims in San Juan province for USD 1.2m from a subsidiary of Pan American Silver, increasing the Taguas exploration area by 123% to 7,289 hectares. The package comprises four claims (Evelina I, Gabriela 1–3) and lies in the same metallogenetic belt as the Cerros Taguas; Evelina East is considered a potential southern extension of the mineralized corridor. Orvana completed two drill holes (2,173.7 m); petrographic analyses show dacitic porphyry and sulfide-bearing mineralization, and results from the second hole are still pending. The company reported USD 137m in revenue over the past twelve months with further revenue growth, but remains unprofitable; the transaction is closed, with formalities outstanding. » More on de.investing.com