Ora Banda Mining Limited (ASX:$OBM) Update

Ora Banda Mining Limited (ASX:OBM) has achieved significant milestones at the Davyhurst operation, including the development of the first ore from Riverina Underground Main Lode ahead of schedule, successful completion of key infrastructure projects, and impressive results from grade control and extension drilling. The company is targeting production of over 100,000 ounces in FY25.

Executive Commentary

Ora Banda Mining Limited's Managing Director, Luke Creagh, expressed his satisfaction with the team's efforts, highlighting the significance of intersecting first ore from Main Lode at Riverina ahead of schedule. He emphasized the positive impact of the high-grade ore from Riverina on the company's production and free cash flow. Additionally, he underscored the importance of the processing plant improvements, particularly the successful achievement of nameplate throughput of 1.2Mtpa at 100% fresh rock feed.

Summary of Achievements and Outlook

Ora Banda Mining (ASX:OBM) has made substantial progress at the Davyhurst operation, achieving key milestones ahead of schedule and completing essential infrastructure projects. The company's focus on the DRIVE to 100 Project, targeting production of over 100,000 ounces in FY25, is supported by the successful development of the first ore from Riverina Underground Main Lode and the completion of the primary pump station, ventilation shaft, vent fan installation, power station, and surface infrastructure. The processing plant's crusher circuit upgrade has enabled the company to operate at nameplate capacity, further enhancing its production capabilities. With ongoing drilling success and infrastructure advancements, Ora Banda Mining is well-positioned to meet its production targets and lower unit costs going forward.