Taylor refreshes buy of Orvana Minerals

2013-06-14 21:22 ET - In the News

Jay Taylor, in the May 16, 2013, edition of Gold, Energy & Tech Stocks, refreshes his buy of Orvana Minerals Corp., recently 59 cents. Mr. Taylor said buy on Jan. 17, 2013, at 99 cents. An investment of $1,000 at 99 cents is now worth $595. Orvana expects to generate $80-million of cash in 2013 and then $100-million in 2014. Mr. Taylor notes the company's market cap is a little over $100-million, which means the stock is selling at a price that does not reflect the value of Orvana's projects. The editor says any stock bought within the past 1-1/2 years has likely lost much of its value, but producers such as Orvana are worth buying and holding. The gold bug believes the gold bull market has not yet ended. He says Orvana has excellent prospects at the Copperwood project in Michigan, which contains 27.4 million tonnes at 1.41 per cent copper and 3.62 grams per tonne silver. Unfortunately, copper is down, so Orvana may not focus on this project for now. In Spain, at the EVBC mine, the company aims to produce 63,000 gold ounces, six million copper pounds and 200,000 silver ounces in 2013. At the UMZ mine in Bolivia, its target is 12,000 gold ounces, 12 million copper pounds and 650,000 silver ounces.