Latest news with #OraBandaMining
West Australian
2 days ago
- Business
- West Australian
Ora Banda 35% lift leaves output just shy of 2025 WA gold target
ASX-listed gold producer Ora Banda Mining has flagged a hefty 35 per cent lift in its annual gold output to 95,000 ounces at its Davyhurst project in Western Australia's renowned Goldfields region. However, the company will land just shy of its 2025 production and cost guidance after encountering delays in a key mill upgrade. Ora Banda says gold production for April and May clocked in at 12,100 ounces and the June quarter is expected to deliver about 24,500 ounces. If June hits its forecast of up to 12,500 ounces, Ora Banda will end the financial year 5 per cent short of its lower end guidance of 100,000 ounces. All-in sustaining costs are tipped to come in at about $2600 per gold ounce, or 4 per cent above the company's previously guided high-end estimate of $2500 per ounce. Keen to emphasise the upside, management points out that the expected 2025 total represents a significant lift over last year's 70,000-ounce result and that recent processing bottlenecks are now behind them. A planned upgrade to install new lifters and liners to the mine's primary mill presented a key challenge in the past few months and the commissioning process dragged on longer than anticipated, disrupting output for April and May. With the works now completed, the plant is now nailing throughput rates of up to 4,000 tonnes per day. Meanwhile, the company is hitting its stride on the mining front. Production from Ora Banda's Riverina and Sand King pits is forecast to contribute a combined 14,500 ounces in June alone. Riverina is in steady-state production, while Sand King is ramping up following a restart. Ora Banda is also sitting on a healthy ore stockpile, built up during the processing plant's downtime. At the end of May, the company had 83,000 tonnes of medium-grade ore at 2.8 grams per tonne (g/t) for 7,500 ounces and 114,000t of low-grade material grading 1.2g/t for an additional 4,400 ounces. Three years ago, Davyhurst was treading water, churning out just 12,000 ounces of gold per quarter with grades barely hitting 1.5g/t. That changed when seasoned mining hand Luke Creagh took Ora Banda's reins as managing director. In a stunning turnaround, Creagh breathed new life into the ageing project, doubling production and proving the doubters wrong on an asset many had already written off as yesterday's story. Davyhurst now has two operating underground mines, with the Riverina deposit initially pulling much of the weight and half filling the 1.3 million-tonne processing plant. During the past six months, management's priority has moved to getting the company's newer Sand King deposit up to speed to fill the mill full of high-grade feed. The move will provide Ora Banda with another significant inflection point for increased production and cash flow. The company has also recently knocked it out of the park with some sizzling, high-grade intercepts at its new Little Gem discovery, south of its Riverina gold camp. Best hits at Little Gem included a whopping 22.7 metres grading 5g/t gold from 481m, including a red-hot 6.2m section running at 10.8g/t. The same hole kept giving, with a further 10.9m slice of 6.4g/t gold just 40m further down. Notably, the find appears to link up a chain of prospects from British Lion, through Little Gem and down to the 32,000-ounce Sunraysia deposit. The company beat a quick march back to site, with the drill rigs now smashing out a 16-hole follow-up blitz to see what other treasures may be lurking beneath. At the end of March, Ora Banda sat on an eye-watering cash pile of $80.7 million, giving it plenty of firepower to chase discoveries and fast-track extension drilling at Riverina and Sand King. The company is aiming to grow the project's 1.95-million-ounce global resource grading 2.6g/t gold. With the upgraded plant now hitting full stride and mining firing on all cylinders, Ora Banda looks primed for a big year ahead, backed by solid stockpiles and a clear runway to hit its 150,000-ounce annual gold target. Despite falling slightly short of guidance this year, Ora Banda's production trajectory remains firmly upward. With its key infrastructure hurdles now resolved, Ora Banda's push to become a mid-tier Aussie gold producer appears on track to continue. Is your ASX-listed company doing something interesting? Contact:
West Australian
30-04-2025
- Business
- West Australian
Robust sales and gold discoveries in successful quarter for Ora Banda
Ora Banda Mining has mailed in another strong performance at its Davyhurst gold project in Western Australia, producing 23,150 ounces of gold in the March quarter and uncovering a potentially game-changing high-grade discovery. 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. Is your ASX-listed company doing something interesting? Contact:
Yahoo
03-03-2025
- Business
- Yahoo
Ora Banda Mining First Half 2025 Earnings: EPS: AU$0.028 (vs AU$0.006 in 1H 2024)
Revenue: AU$186.4m (up 94% from 1H 2024). Net income: AU$50.8m (up 371% from 1H 2024). Profit margin: 27% (up from 11% in 1H 2024). The increase in margin was driven by higher revenue. EPS: AU$0.028 (up from AU$0.006 in 1H 2024). All figures shown in the chart above are for the trailing 12 month (TTM) period Looking ahead, revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Metals and Mining industry in Australia. Performance of the Australian Metals and Mining industry. The company's share price is broadly unchanged from a week ago. You should learn about the 1 warning sign we've spotted with Ora Banda Mining. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
