TORONTO – November 09, 2026 -- Orvana Minerals' Bolivian subsidiary Empresa Minera Paitití (EMIPA) repaid EMIPA Bonds I in full at maturity on November 7, 2026, but the remaining EMIPA Bonds II, due February 19, 2027, are still under a covenant cure period.
EMIPA makes final coupon payment and starts releasing guarantees
EMIPA made the fifth and final coupon payment on Bonds I, completing its scheduled debt service on the program. It will now complete the formalities to release the guarantees securing the bonds.
CEO Juan Gavidia said the company will keep reducing the debt it took on to fund the Don Mario plant expansion, in line with agreed terms.
Covenant ratios for both bond programs missed thresholds at September 30
As disclosed on November 2, 2026, EMIPA's financial covenant ratios under both bond programs were outside required thresholds at September 30, 2026. With Bonds I repaid, the cure period now applies only to Bonds II.
EMIPA is working to restore compliance. It may also consult bondholders on amending the ratios, citing the evolving economic and foreign exchange environment in Bolivia and progress at the Oxides Stockpile Project. Orvana gave no assurance that compliance will be restored or that amendments will be agreed within the cure period or any extension. If the matter is unresolved, Bonds II bondholders would be entitled to exercise their rights under the program.
Don Mario throughput tops 900 tonnes per day in final week of October
Throughput at Don Mario rose through October and averaged more than 900 tonnes per day (tpd) in the final week. New filter cloths were installed on two of the plant's three filter units by mid-October. The third unit was fitted on November 1, 2026.
EMIPA plans to test throughput of about 1,400 tpd in November, subject to operating and metallurgical performance. It expects to move toward the design capacity of about 1,700 tpd in December. It expects the ramp-up to be complete by the end of December 2026.
EMIPA is also working to optimize metal recoveries and unit consumption of sulfuric acid and other reagents, and is evaluating further productivity improvements. Gavidia said November and December priorities are higher throughput alongside those optimizations.
Orvana presents at Zurich summit on November 9
Raúl Álvarez, Director of Exploration and Technical Services, will present at the 2026 Precious Metals Summit Zurich on November 9 at 4:00 p.m. CET, with a webcast available. CFO Nuria Menéndez will also attend the November 9-11 event. Orvana will cover operations in Bolivia, Spain and Argentina and hold investor meetings.
Q4 FY2026 consolidated operational and financial results will be released with audited annual financial statements and MD&A in late November 2026.