Ora Banda Mining's March 2024 Quarter Activities Report

Ora Banda Mining Limited (ASX: $OBM) has released its March 2024 quarterly activities report, showcasing significant achievements and growth catalysts. The report highlights a 7% increase in gold production, with 17,368 ounces produced, marking the third consecutive quarter of growth. The company's FY24 ounces produced in the 9 months to March 2024 stand at 50,661oz, a 5% increase from the total of FY23. Additionally, the development at Riverina Underground has shown promising progress, with a total of 1,711 development meters completed in the quarter, representing an 88% increase from the prior quarter.

Executive Commentary on March 2024 Quarter Activities

Ora Banda's Managing Director, Luke Creagh, expressed excitement about the company's achievements, stating, 'It is exciting for the Ora Banda team to deliver another big quarter of improvements and achievement of key milestones as we continue to advance our growth strategy. From an operational view, we have set the business up well for a strong finish to FY24 with delivery of first stoping ore from Riverina Underground, grade improvements in open pit mining, and tonnage and gold production increases through the processing plant.' Creagh also highlighted the expansion of the potential of Sand King and the injection of additional funds via a capital raising and completion of the WesCEF deal, positioning Ora Banda for significant growth in the coming quarters.

Summary of March 2024 Quarter Activities and Outlook

Ora Banda Mining's March 2024 quarterly report reflects a period of substantial progress and growth. The company's gold production has seen a consistent upward trend, with the FY24 ounces produced surpassing the total of FY23. The development at Riverina Underground has shown significant improvement, with a record 588 development meters in March 2024 and a total of 1,711 meters for the quarter. The company's focus on advancing the Sand King project and the completion of the WesCEF deal have bolstered its position for future growth. With a strong finish anticipated for FY24 and ongoing exploration activities, Ora Banda is well-positioned for continued success and expansion in the upcoming quarters.