Orvana Minerals Corp announced today that it has resolved the arbitration proceedings commenced against its wholly-owned subsidiaries, Orvana Minerals Asturias Corp. “This will allow our senior management team to remain focused on developing our current projects and seeking out new opportunities.”
Our latest recommendation Orvana Minerals came out with a release today, saying it has agreed to pay Glen Eagle $1.5 million in settlement. Orvana is not acknowledging any liability. Roland Horst (CEO) stated that they are pleased to have this resolved as they can now fully focus on more important matters as developing new mines etc.
We at O B Research fully agree with Mr Horst, even though this was never “any major issue” for the company as we saw it. In our mind, it is still good to have this behind us rather than an overhang.
We expect a feasibility study on the El Valle-Boinás project shortly, and will then update our report and share it with our subscribers.
Team O B Research
For full pressrelease, see pdf