Robust sales and gold discoveries in successful quarter for Ora Banda
The company's gold sales rose 6 per cent to 23,643 ounces, lifting the total financial year-to-date sales to 71,467 ounces. This is also 6 per cent ahead of the last full-year's output, with a full quarter remaining.
Ora Banda's Riverina underground mine remains the backbone of production, having delivered 127,000 tonnes of ore at a stellar 4.6 grams per tonne (g/t), 10 per cent above its 4.2 g/t reserve grade.
The company says its Sand King underground mine continues to ramp up, producing its first stoping ore this quarter and yielding 3600 ounces at 3.4 g/t. This is also 6 per cent above reserve grade as the project tracks towards a steady-state production of 15,000 ounces a quarter by June.
Management also noted a $375 per ounce increase in its forecast all-in sustaining cost guidance for the year, driven by operational adjustments and elevated gold prices. The figure presents a slight hiccup in an otherwise stellar three-year operational turnaround for the company, which was more than compensated by a nearly $2000 per ounce gold price gain in the past year.
Ora Banda's financial resilience continues thanks to record gold prices and the strongest market seen in more than 15 years. Its cash pile this quarter reached $80.7M, despite $28.6M spent on capital projects, including $18.9M for Riverina and Sand King development and $2.8M for infrastructure to position the company for future production growth at Davyhurst.
A six-day mill shutdown for upgrades reduced throughput by 7 per cent in the quarter, contributing to a revised financial year production guidance of 100,000–105,000 ounces. This was down from 100,000–110,000 ounces gold.
As Creagh suggested, the company's biggest wins to start the year were delivered by the drill bit, with the recent discovery of its Little Gem prospect south of Riverina.
Drilling uncovered a multi-lode system that could considerably extend its mine life when fleshed out. The program returned stellar hits, including a discovery hole for a substantial 22.7 metres running 5g/t and 10.9m at 6.4g/t across two separate lodes.
A 16-hole follow-up program is now targeting 4.7 kilometres of prospective horizons, raising hopes the company can confirm a major discovery.
Ora Banda says Davyhurst production will continue to perform, noting its head grade climbed 7 per cent in the quarter to 3.1g/t as Sand King's higher-grade ore replaced its low-grade stockpiles.
Impressively, planned upgrades in the June quarter are set to boost Davyhurst's capacity to 1.4 million tonnes per annum.
Robust cash flows, high-grade production and plenty of exploration upside underscore a continued rise to power for Ora Banda and its projected growth trajectory. As gold prices hold at record highs, the company is forging ahead toward its 150,000-ounce annual target, which would cement its place as one of Australia's rising gold producers.
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News.com.au
7 days ago
- News.com.au
Diggers and Dealers: The fresh faces picking up the keys to the ASX gold mid-tier
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Beament is now in copper, Klein has stepped back to non-executive chair at Evolution and Finlayson is rapidly growing Genesis Minerals into Australia's next gold major, but sent lieutenant Matt Nixon in his stead. Replacing them is a bunch of up-and-comers and first-time CEOs with the potential to lead their growing producers into the ASX 200. Luke Creagh, Ora Banda (ASX:OBM) The Davyhurst gold operation in the Eastern Goldfields has been the undoing of several previous owners, but under the leadership of mining engineer Luke Creagh, Ora Banda has turned it around. 'We've spent three years trying to fix it and now it's like 'game on',' Creagh told Stockhead. 'So this is the starting point – we've actually got a company to work with now, which is nice.' Davyhurst produced 91,687 ounces of gold in the 2025 financial year, up 32% year-on-year, with FY26 production guidance of 140,000-155,000oz. 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Though smaller than Ora Banda or Catalyst, Brightstar is experiencing rapid growth under geologist and former Canaccord Genuity investment banker Alex Rovira. In the past two years, Brightstar has merged with Kingwest Resources and Alto Metals, acquired unlisted Linden Alliance, bought Gateway Mining's Montague project and only last month, announced a merger with Aurumin. The company's Second Fortune and Fish underground mines in WA's Goldfields are ramping up to 35,000-40,000ozpa, but the company has much bigger ambitions. 'When we execute on Menzies and Laverton, then ultimately Sandstone, we're targeting a plus-200,000 ounce production profile,' Rovira told Stockhead at Diggers. 'That's akin to what Ramelius and Westgold were doing 24 months ago, prior to some of their recent acquisitions. 'Ultimately, I'm a firm believer that you need scale. Institutional investors aren't going to buy something that's a 30,000 or 40,000 ounce producer.' Brightstar's plan is to develop the Menzies and Laverton projects, which will fund the larger Sandstone project. Rovira said the company wanted multiple operating hubs like its larger peers Genesis and Westgold. 'Having multiple sites enables multiple areas of focus, so from an M&A perspective, from an exploration perspective, it gives you a broader scope to build out a business that's going to be around for hopefully a long time,' he said. Rovira admitted he'd been slightly naïve when he was an investment banker. 'You think you know everything about mining, and you go work for mining company and realise you actually know nothing, but it's been a great experience,' he said. Brightstar has gone from a handful of employees to 130 in less than three years and building up capability has been a strong focus for Rovira. It's even been drawing talent from the larger mid-tier gold miners. 'We've obviously had a very aggressive two and a half years and the opportunity that presents for people is exciting, it's attractive,' he said. 'I know we've been very active on the M&A front and that's what people see, but ultimately, building a business is challenging, and you need the right people, and I think we've been very focused on making sure we've got the right bums in the right seats.'
News.com.au
30-07-2025
- News.com.au
Resources Top 5: Gold results point to much bigger Little Gem for Ora Banda
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This major spend will underpin mine life extension at Riverina and Sand King underground mines, assess whether the Waihi deposit can be taken underground, advance the Little Gem, Round Dam and Mulline prospects, and pursue belt-wide exploration over 140km of tenure. It is little wonder that it is spending up as the previous spend saw 189km drilled to identify two now developed underground mines and numerous advanced targets. Ora Banda Mining increased 9.5% to 74.5c with more than 12m shares changing hands valued at $9m. The company's quest to find more gold is proving fruitful, with the latest 16-hole program at Little Gem confirming high gold grades and large lode widths. Four lodes have been modelled – Diamond, Ruby, Sapphire and Tanzanite – and the 8.8m intersection in LGDD25008 is a 400-metre step out to the north of LGDD25005 which previously returned 22.7m at 5.0g/t. 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Green Critical Minerals (ASX:GCM) To capitalise on increasing US demand for advanced thermal management solutions, including its very high-density graphite blocks, Green Critical Minerals is seeking to list on a US exchange to complement its ASX listing. This will enable the company to access a broad customer base, engage directly with leading technology manufacturers and tap into one of the world's deepest and most sophisticated capital markets. It will also unlock substantial commercial value through partnerships, distribution networks and market share expansion. This move follows GCM setting up a US entity to support product registration requirements, streamline logistics and enable direct engagement with North American customers in the advanced electronics, semiconductor and infrastructure sectors. Green Critical Minerals is evaluating the most effective pathway for a US market entry with consideration given to the most suitable exchange – either the NYSE or Nasdaq – and has engaged leading legal advisors HWL Ebsworth to support this process. It has also formed a dedicated selection committee tasked with advancing advisor and investment bank appointments. Trigg Minerals (ASX:TMG) To strengthen its focus on developing domestic processing capability for critical minerals in the United States, Trigg Minerals (ASX:TMG) has appointed US-based special purpose acquisition company (SPAC) veteran James Graf as a non-executive director. The company's US efforts are centred on the flagship Antimony Canyon Project in Utah while it also has antimony interests in Australia. Graf has more than 35 years of international capital markets, M&A and corporate management experience and will assist Trigg as it advances plans for a US mainboard listing. He is currently CEO of Graf Global Corp, his eighth SPAC as CEO, CFO and/or active director. He also serves as interim CFO of NKGen Biotech, his last SPAC target. Trigg will leverage his deep cross-border experience in banking and SPACs, including resources transactions and Australian deals, to sharpen its execution strategy and build strong engagement with US investors. 'Antimony Canyon Project is a globally unique asset and the addition of James to the team is an exciting step in the development of Trigg Minerals,' chairman Timothy Morrison said. This article does not constitute financial product advice. You should consider obtaining independent financial advice before making any financial decisions. While Ora Banda Mining, CuFe, Green Critical Minerals and Trigg Minerals are Stockhead advertisers, they did not sponsor this article.
Herald Sun
30-06-2025
- Herald Sun
Melbourne property prices rise again amid renewed demand
Melbourne is gaining momentum for home price growth in June, with new PropTrack data confirming the city's long-awaited property market recovery is finally taking hold. Photo: iStock Melbourne's housing market is gaining momentum, with new figures showing prices have risen for a second consecutive month and annual growth turned positive for the first time in more than two years. PropTrack's latest Home Price Index reveals home values climbed 0.3 per cent in June, taking Melbourne's annual growth to 1 per cent. The median home value now sits at $818,000, up $10,600 over the past year, despite remaining 1.1 per cent below the March 2022 peak. RELATED: Hamptons-style Melb home set to turn heads Auction twist as newcomers seize Greenvale keys Melb's ultimate $10m+ property checklist PropTrack senior economist Eleanor Creagh said it was a clear sign the city had turned the corner. 'Melbourne has been one of the weakest-performing capital city markets over the past five years, but we are now seeing momentum return,' Ms Creagh said. 'That's largely due to improved buyer confidence off the back of expected rate cuts and Melbourne's relative affordability, especially when compared to cities like Sydney and Brisbane.' PropTrack senior economist Eleanor Creagh says momentum is building in Melbourne's market, with confidence returning and values rising for a fourth straight month. New data reveals how Melbourne's property market is bouncing back, with values rising and buyer demand heating up across the city. Melbourne's $3000 month on month keeps the city's median dwelling price – combining houses and units – below Adelaide, Brisbane, Perth and Sydney in June. Ms Creagh said unit values, now just 3.6 per cent shy of their previous peak, are benefiting as buyers 'move down the value chain', she added. O'Brien Frankston director Mark Burke said outer-metro property markets were heating up, driven by increased activity from first-home buyers and interstate investors. 'There's definitely momentum building across the city,' Mr Burke said. Buyers are back in force at Melbourne auctions, with intense competition and rising confidence driving up home values across the city. 'Interest rates are expected to drop further, and we all know what happens then, prices go up. 'Buyer's agents are often bidding on behalf of Sydney clients now, at one auction we had 12 registered bidders, but a few big knockout bids quickly wiped out the competition.' While regional Victoria posted a slower 0.1 per cent rise in June, Ms Creagh said standout markets were Bendigo, Ballarat and northwest Victoria where annual growth was up to 4.25 per cent. This renovated Frankston North home sold for $852,000, showing Melbourne's gaining momentum. Geelong, the state's largest regional city, saw unit prices rise 1.1 per cent over the past quarter to a median of $555,000 and house prices rise 0.71 per cent in to $761,000. 'It's a value-driven shift that's reshaping growth across the state,' Ms Creagh said. Melbourne Property Advocates director Simon Murphy says buyers priced out of the city are turning to regional hubs like Bendigo for better value and growth potential. Melbourne Property Advocates director Simon Murphy said affordability was also drawing interest to regional areas. 'Buyers who once looked in suburbs like Sunshine are now turning to Bendigo, where $650,000 can buy a home, allow for renovations, and deliver $200,000 in equity gains before you even move in,' Mr Murphy said. Jellis Craig Bendigo director Matt Leonard said the regional city remained a hot spot, even with higher taxes in Victoria. 'We're now dealing with buyers' advocates from WA, QLD, SA and NSW, all chasing investment properties here,' Mr Leonard said. PROPTRACK HOME PRICE INDEX JUNE 2025 Region Monthly Growth % Annual Growth % Annual Growth $ Sydney 0.5% 3.3% $47,500 Melbourne 0.3% 1.0% $10,600 Brisbane 0.3% 8.3% $74,800 Adelaide 0.6% 9.8% $71,500 Perth 0.3% 7.8% $64,700 Hobart 0.5% 2.3% $14,300 Darwin 0.2% 5.8% $31,900 Canberra 0.3% 0.5% $15,200 Capital cities 0.4% 4.1% $43,900 Regional NSW 0.3% 4.3% $33,100 Regional Vic 0.1% 1.2% $13,200 Regional Qld 0.5% 9.2% $70,700 Regional SA 0.4% 12.9% $56,400 Regional WA 0.4% 10.9% $51,400 Regional Tas 0.1% 3.3% $19,700 Regional NT 0.1% 1.5% $1,700 Regional areas 0.3% 6.0% $40,900 Nationally 0.4% 4.6% $40,900 Source: PropTrack Sign up to the Herald Sun Weekly Real Estate Update. Click here to get the latest Victorian property market news delivered direct to your inbox. MORE: James Packer's new deal at Melbourne supermarket site Inside 'Hospitality Yoda's luxe Melb home Tragic side of Aus housing crisis exposed
