Lithium
43.33
(0.09%)
Gold
2,799.10
0.44%
Copper
4.36
(0.11%)
Oil
69.07
2.37%
Bitcoin
72,358.88
(0.48%)
FTSE 100
8,159.63
(0.73%)
Nikkei 225
39,277.39
0.45%
Dow Jones
42,141.54
(0.26%)
Iron Ore
103.80
0.21%
USD/AUD
0.66
(0.04%)
Hang Seng
20,380.64
(1%)
Lithium
43.33
(0.09%)
Gold
2,799.10
0.44%
Copper
4.36
(0.11%)
Oil
69.07
2.37%
Bitcoin
72,358.88
(0.48%)
FTSE 100
8,159.63
(0.73%)
Nikkei 225
39,277.39
0.45%
Dow Jones
42,141.54
(0.26%)
Iron Ore
103.80
0.21%
USD/AUD
0.66
(0.04%)
Hang Seng
20,380.64
(1%)
Lithium
43.33
(0.09%)
Gold
2,799.10
0.44%
Copper
4.36
(0.11%)
Oil
69.07
2.37%
Bitcoin
72,358.88
(0.48%)
FTSE 100
8,159.63
(0.73%)
Nikkei 225
39,277.39
0.45%
Dow Jones
42,141.54
(0.26%)
Iron Ore
103.80
0.21%
USD/AUD
0.66
(0.04%)
Hang Seng
20,380.64
(1%)
Lithium
43.33
(0.09%)
Gold
2,799.10
0.44%
Copper
4.36
(0.11%)
Oil
69.07
2.37%
Bitcoin
72,358.88
(0.48%)
FTSE 100
8,159.63
(0.73%)
Nikkei 225
39,277.39
0.45%
Dow Jones
42,141.54
(0.26%)
Iron Ore
103.80
0.21%
USD/AUD
0.66
(0.04%)
Hang Seng
20,380.64
(1%)
Lithium
43.33
(0.09%)
Gold
2,799.10
0.44%
Copper
4.36
(0.11%)
Oil
69.07
2.37%
Bitcoin
72,358.88
(0.48%)
FTSE 100
8,159.63
(0.73%)
Nikkei 225
39,277.39
0.45%
Dow Jones
42,141.54
(0.26%)
Iron Ore
103.80
0.21%
USD/AUD
0.66
(0.04%)
Hang Seng
20,380.64
(1%)
Lithium
43.33
(0.09%)
Gold
2,799.10
0.44%
Copper
4.36
(0.11%)
Oil
69.07
2.37%
Bitcoin
72,358.88
(0.48%)
FTSE 100
8,159.63
(0.73%)
Nikkei 225
39,277.39
0.45%
Dow Jones
42,141.54
(0.26%)
Iron Ore
103.80
0.21%
USD/AUD
0.66
(0.04%)
Hang Seng
20,380.64
(1%)
Lithium
43.33
(0.09%)
Gold
2,799.10
0.44%
Copper
4.36
(0.11%)
Oil
69.07
2.37%
Bitcoin
72,358.88
(0.48%)
FTSE 100
8,159.63
(0.73%)
Nikkei 225
39,277.39
0.45%
Dow Jones
42,141.54
(0.26%)
Iron Ore
103.80
0.21%
USD/AUD
0.66
(0.04%)
Hang Seng
20,380.64
(1%)
Lithium
43.33
(0.09%)
Gold
2,799.10
0.44%
Copper
4.36
(0.11%)
Oil
69.07
2.37%
Bitcoin
72,358.88
(0.48%)
FTSE 100
8,159.63
(0.73%)
Nikkei 225
39,277.39
0.45%
Dow Jones
42,141.54
(0.26%)
Iron Ore
103.80
0.21%
USD/AUD
0.66
(0.04%)
Hang Seng
20,380.64
(1%)
Lithium
43.33
(0.09%)
Gold
2,799.10
0.44%
Copper
4.36
(0.11%)
Oil
69.07
2.37%
Bitcoin
72,358.88
(0.48%)
FTSE 100
8,159.63
(0.73%)
Nikkei 225
39,277.39
0.45%
Dow Jones
42,141.54
(0.26%)
Iron Ore
103.80
0.21%
USD/AUD
0.66
(0.04%)
Hang Seng
20,380.64
(1%)
Lithium
43.33
(0.09%)
Gold
2,799.10
0.44%
Copper
4.36
(0.11%)
Oil
69.07
2.37%
Bitcoin
72,358.88
(0.48%)
FTSE 100
8,159.63
(0.73%)
Nikkei 225
39,277.39
0.45%
Dow Jones
42,141.54
(0.26%)
Iron Ore
103.80
0.21%
USD/AUD
0.66
(0.04%)
Hang Seng
20,380.64
(1%)
Lithium
43.33
(0.09%)
Gold
2,799.10
0.44%
Copper
4.36
(0.11%)
Oil
69.07
2.37%
Bitcoin
72,358.88
(0.48%)
FTSE 100
8,159.63
(0.73%)
Nikkei 225
39,277.39
0.45%
Dow Jones
42,141.54
(0.26%)
Iron Ore
103.80
0.21%
USD/AUD
0.66
(0.04%)
Hang Seng
20,380.64
(1%)
Lithium
43.33
(0.09%)
Gold
2,799.10
0.44%
Copper
4.36
(0.11%)
Oil
69.07
2.37%
Bitcoin
72,358.88
(0.48%)
FTSE 100
8,159.63
(0.73%)
Nikkei 225
39,277.39
0.45%
Dow Jones
42,141.54
(0.26%)
Iron Ore
103.80
0.21%
USD/AUD
0.66
(0.04%)
Hang Seng
20,380.64
(1%)
Lithium
43.33
(0.09%)
Gold
2,799.10
0.44%
Copper
4.36
(0.11%)
Oil
69.07
2.37%
Bitcoin
72,358.88
(0.48%)
FTSE 100
8,159.63
(0.73%)
Nikkei 225
39,277.39
0.45%
Dow Jones
42,141.54
(0.26%)
Iron Ore
103.80
0.21%
USD/AUD
0.66
(0.04%)
Hang Seng
20,380.64
(1%)
Lithium
43.33
(0.09%)
Gold
2,799.10
0.44%
Copper
4.36
(0.11%)
Oil
69.07
2.37%
Bitcoin
72,358.88
(0.48%)
FTSE 100
8,159.63
(0.73%)
Nikkei 225
39,277.39
0.45%
Dow Jones
42,141.54
(0.26%)
Iron Ore
103.80
0.21%
USD/AUD
0.66
(0.04%)
Hang Seng
20,380.64
(1%)
Lithium
43.33
(0.09%)
Gold
2,799.10
0.44%
Copper
4.36
(0.11%)
Oil
69.07
2.37%
Bitcoin
72,358.88
(0.48%)
FTSE 100
8,159.63
(0.73%)
Nikkei 225
39,277.39
0.45%
Dow Jones
42,141.54
(0.26%)
Iron Ore
103.80
0.21%
USD/AUD
0.66
(0.04%)
Hang Seng
20,380.64
(1%)
Lithium
43.33
(0.09%)
Gold
2,799.10
0.44%
Copper
4.36
(0.11%)
Oil
69.07
2.37%
Bitcoin
72,358.88
(0.48%)
FTSE 100
8,159.63
(0.73%)
Nikkei 225
39,277.39
0.45%
Dow Jones
42,141.54
(0.26%)
Iron Ore
103.80
0.21%
USD/AUD
0.66
(0.04%)
Hang Seng
20,380.64
(1%)
Lithium
43.33
(0.09%)
Gold
2,799.10
0.44%
Copper
4.36
(0.11%)
Oil
69.07
2.37%
Bitcoin
72,358.88
(0.48%)
FTSE 100
8,159.63
(0.73%)
Nikkei 225
39,277.39
0.45%
Dow Jones
42,141.54
(0.26%)
Iron Ore
103.80
0.21%
USD/AUD
0.66
(0.04%)
Hang Seng
20,380.64
(1%)
Lithium
43.33
(0.09%)
Gold
2,799.10
0.44%
Copper
4.36
(0.11%)
Oil
69.07
2.37%
Bitcoin
72,358.88
(0.48%)
FTSE 100
8,159.63
(0.73%)
Nikkei 225
39,277.39
0.45%
Dow Jones
42,141.54
(0.26%)
Iron Ore
103.80
0.21%
USD/AUD
0.66
(0.04%)
Hang Seng
20,380.64
(1%)
Lithium
43.33
(0.09%)
Gold
2,799.10
0.44%
Copper
4.36
(0.11%)
Oil
69.07
2.37%
Bitcoin
72,358.88
(0.48%)
FTSE 100
8,159.63
(0.73%)
Nikkei 225
39,277.39
0.45%
Dow Jones
42,141.54
(0.26%)
Iron Ore
103.80
0.21%
USD/AUD
0.66
(0.04%)
Hang Seng
20,380.64
(1%)
Lithium
43.33
(0.09%)
Gold
2,799.10
0.44%
Copper
4.36
(0.11%)
Oil
69.07
2.37%
Bitcoin
72,358.88
(0.48%)
FTSE 100
8,159.63
(0.73%)
Nikkei 225
39,277.39
0.45%
Dow Jones
42,141.54
(0.26%)
Iron Ore
103.80
0.21%
USD/AUD
0.66
(0.04%)
Hang Seng
20,380.64
(1%)

Ora Banda Mining (ASX: $OBM) secures A$30m placement commitments

Ora Banda Mining secures A$30m in Placement Commitments


Ora Banda Mining Limited (ASX: $OBM) has received firm commitments for a single tranche placement of 136,363,637 new fully paid ordinary shares at an issue price of A$0.22 to raise A$30 million. The placement was strongly supported by new and existing international and domestic institutional, professional, and sophisticated investors. This funding will enable Ora Banda to rapidly advance Sand King towards Final Investment Decision (FID) and continue the on-schedule ramp up of the Riverina Underground mine.

Executive Commentary from Ora Banda's Managing Director, Luke Creagh


We are at an exciting inflection point as the Company pivots away from our current low grade open pit mill feed to high grade underground mill feed as its primary source of ore. In addition, the outstanding recent drilling results from the Phase 1 program at Sand King position it as a potential second underground mine in the future which could materially increase production. The Company is now well funded and we thank our existing and new investors for their support. We continue to execute our strategy in becoming the next mid tier miner in Australia.

Summary of Ora Banda Mining's A$30m Placement Commitments


Ora Banda Mining has successfully secured A$30 million in placement commitments, with strong support from existing shareholders and new institutional investors. The funds raised will be utilized to rapidly advance Sand King towards Final Investment Decision (FID), accelerate regional exploration, and for general working capital purposes. The Company's Managing Director, Luke Creagh, expressed confidence in the Company's strategy to become the next mid-tier miner in Australia. The placement price of A$0.22 per new share represents a 13.7% discount to the last trading price, strengthening the company's balance sheet. Settlement of the new shares is expected to occur on March 7, 2024, and the new shares will rank equally with the Company's existing shares on issue. Ora Banda Mining looks forward to executing its strategy and achieving its goals with the support of the newly secured funds.

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