(RTTNews) – Orvana Minerals Corp. (ORV.TO) announced that its Bolivian subsidiary, Empresa Minera Paitití S.A. – EMIPA, has obtained approval for its second bond issuance, totaling US$24.98 million.
The EMIPA Bonds II Issuance will be offered through the Bolivian Stock Exchange starting early September 2025 and is intended to fund the Oxides Stockpile Project or OSP, a key step toward restarting operations at the Don Mario property in early 2026.
The financing will support processing of existing oxide stockpiles via plant expansion at Don Mario. Proceeds will go exclusively to EMIPA, as Orvana itself is not issuing securities or receiving funds from this offering.
The bonds, denominated “Bonos Emipa II,” carry a fixed 10% annual interest rate with semiannual payments and mature in February 2027. The 180-day offering period began on August 28, 2025, with no minimum subscription required.
Currency market conditions in Bolivia may affect conversion rates when U.S. dollar proceeds are exchanged for Bolivianos, as official rates differ significantly from market rates. EMIPA projects the actual conversion rate may fall between these benchmarks but notes this remains subject to change.
Even with full subscription, additional financing will be required to fully develop the OSP. The company will provide updates as the bond placement progresses.
CEO Juan Gavidia stated that approval of the second bond issuance marks a major milestone in funding the Oxides Stockpile Project and supports Orvana’s goal of restarting Don Mario operations in early 2026. He emphasized that successful completion of the bond placement is critical to advancing the project.
Friday ORV.TO closed at $0.55 or 1.85% higher on the Toronto Stock Exchange.
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