Business goliath Wesfarmers will pump $26m into Ora Banda Mining to buy 65 per cent of the lithium rights at the company's Davyhurst gold project north of Kalgoorlie. The move follows the discovery of lithium at Davyhurst back in April and will also see Ora Banda pick up a 2 per cent royalty. Ora Banda plans to monetise its royalty up front, courtesy of a partial sale to a third party.
Ora Banda Mining has struck a $26 million joint venture and farm-in agreement with conglomerate Wesfarmers for its lithium mining rights at its Goldfields foothold.
Ora Banda Mining has made a solid start to the financial year with gold production rising 39 per cent to 16,952 ounces and sold gold increasing by 35 per cent to 16,319 ounces compared to the previous quarter. It finished the September quarter with $22.7 million, despite spending $11.2 million on the development of its Riverina underground gold mine and $2.8 million on exploration.
Ora Banda Mining has now settled a $10 million deal to sell its non-core Lady Ida tenements, 65km south of Kalgoorlie, in a move designed to sharpen the company's focus on high-grade underground gold deposits. Ora Banda will retain rights on the tenements to all minerals other than gold and silver as part of the now-completed sale to Lamerton and Geoda.
Ora Banda Mining has unveiled a swag of new drilling results, including an 8.1m hit at 13.4 grams per tonne gold from 515m, expanding its Riverina project beyond its current resource boundaries to the south and at depth. Management says separate exploration at the company's Siberia project is also targeting below the current pit floors of the Missouri and Sand King open-pit mines.
Ora Banda Mining has hailed a strong finish to the financial year after mining a record 16,700 gold ounces at its Missouri open-pit mine in the June quarter – a 49 per cent increase from the previous period. The company churned through more than 229,000 tonnes at a grade of 2.3g/t gold, with higher volumes after exposing and mining its WMC and Monarch lodes.
Ora Banda Mining continues to deliver impressive results from phase-one drilling at its Riverina underground deposit near Kalgoorlie, with assays highlighting a 0.4m intercept at a massive 243g/t gold from 151.6m. The 0.4m hit was contained within a 4.4m intersection grading 22.88g/t gold from 151.6m drilled at the company's Murchison Lode, with a second hole recording a 0.8m segment going 24.33g/t gold from 103.6m.
Ora Banda Mining has seen a mined gold grade increase of more than 50 per cent at its operations to 2.5 grams per tonne over the March quarter compared to an average of 1.7 g/t gold in the previous six months. The significant grade increase caps a solid three months for the company that also included an almost 5 per cent increase in gold produced with a total of 12,310 ounces against 11,803 ounces in the December quarter and 11,720 ounces through the September quarter.
Ora Banda Mining has hit significant lithium results from an initial three-hole exploration campaign at the company's Federal Flag prospect, just 10km from its Davyhurst gold processing plant near Kalgoorlie. The traditional gold explorer has confirmed the presence of lithium-caesium-tantalum pegmatites, along with potential lithium-bearing spodumene, with an 11.1m hit at 1.28 per cent lithium oxide from 54m.
Ora Banda Mining directors and London-based investor Hawke's Point have stumped up a combined $9.2m as part of a $30m capital raise to fund the cost of operating the reimagined underground Riverina project. The company says the well-supported shares placement and planned development of the underground system will help set it on the path to producing 100,000 gold ounces annually by the 2025 financial year.
While many gold producers are delighted to churn out 100,000 ounces a year, five leading companies wouldn't get out of bed for that. Take a look which WA company stands head and shoulders above them all.
Ora Banda Mining has been given the green light to start mining at its Riverina underground gold deposit near Kalgoorlie after receiving financial investment decision approval from its board of directors. While the mining decision is still subject to the company securing a capital requirement of about $30 million, the approval supports its 2025 financial year production target of 100,000 gold ounces per annum.
Ora Banda Mining looks set to pocket $4.2 million in a three-way deal that includes the sale of four non-core tenements to Beacon Minerals and a new royalty agreement with key investor Hawkes Point. Ora Banda has agreed to sell four of its Lady Ida licences in the Goldfields region of WA to Beacon through its wholly owned subsidiary for $2.5 million while still retaining all non-silver and non-gold mineral rights over the tenements.
Ora Banda Mining will collect a cool $10 million for the sale of non-core tenements at Lady Ida, 65km south of its Davyhurst gold processing plant in WA. The company says the move will strengthen its balance sheet ahead of a decision on the go-ahead for its Riverina underground gold mine. The sale includes low-grade gold resources in addition to related mining and infrastructure licences.
A comprehensive exploration campaign has paid off for Ora Banda Mining with the company revealing it has doubled the underground mineral resource at its Riverina gold system to more than 300,000 gold ounces. The gold producer also announced a maiden ore reserve for the Riverina system near Kalgoorlie of 73,000 ounces at a solid grade of 4.3 grams per tonne gold with an additional reserve only limited by drilling density at the site.
Ora Banda Mining is on track to deliver an updated mineral resource estimate at its Riverina gold system near Kalgoorlie this month after positive results from phase 1 drilling at the site. Assay highlights from exploration at the company's Main Lode East prospect showed some impressive grades including a 2m hit at 49.8 grams per tonne gold from 163m.
Ora Banda Mining is steadying itself for a year of strong gold production with lower costs at its mining operation in WA's Goldfields. The company's ongoing improvement strategies have boosted its key performance indicators by increasing mining productivity and ounces mined. A string of strong exploration results will feed into an updated mineral resource estimate slated for February this year.
Ora Banda Mining has secured funding support from shareholder Hawkes Point Holdings to continue developing its Riverina underground operation including exploration, resource development and capital expenditure. Hawkes Point is the gold producer's largest shareholder and will provide Ora Banda with an unsecured loan of $11 million towards work at the project near Kalgoorlie.
Ora Banda Mining has extended mineralisation of its Riverina gold system by more than 100m to the south and 100m vertically with the deposit remaining open in all directions following positive assay results. The company has completed 46 diamond drill holes for a total of 13,046m at the site near Kalgoorlie as Ora Banda explores the system for underground mining potential. The success has encouraged the company to expand the program to 54 holes for a total of 15,331m.
Ora Banda Mining has recorded high-grade hits from extensional drilling at its Main Lode prospect under the Riverina open pit that has increased mineralisation at the deposit to more than 350m below surface. The company has completed 12 holes of a planned 30-hole campaign at the project north-west of Kalgoorlie with assay highlights including a 1.2m hit at an impressive 29.3 grams per tonne gold from 359m in addition to 2.8m going 6 g/t gold from 357m.
Ora Banda Mining has reduced the assumed gold price used to calculate its ore reserve figures at the company's Davyhurst gold project near Kalgoorlie as it focuses on higher-margin ounces and increased quality from deposits. The change to the price assumption means the company will target higher gold grades to improve the economic viability of each of its deposits at Davyhurst.
Ora Banda Mining's strategy to simplify mining, raise plant efficiency, cut costs and improve cash generation has stabilised performance and delivered a timely boost as the company heads into the new financial year. The June quarterly report has marked the first time the gold producer has delivered a positive cash flow since inception. The $3.8 million net operating position came on the back of the sale of 15,060 ounces of gold during the period.
Our board moves wrap includes Paul Harvey, Paul Hardie, Michael Fry, Adam Taylor, Ross Brown, Dennison Hambling, Robert Hilton, Roy Kelly, Raj Tailor, Luke Creagh, and Geoff Jones.
West Australian gold miner Ora Banda Mining has pulled off a recruitment coup by appointing Northern Star Resources' highly regarded former Chief Operating Officer, Luke Creagh as its Chief Executive Officer. Ora Banda Chairman, Peter Mansell said Creagh's appointment was a major fillip for the company, adding: “We couldn't be happier that Luke is joining us.”
Gold and lithium explorer Ora Banda Mining has identified five new gold targets from a detailed mapping and rock chip sampling program in the Greater Callion area of the North-Eastern Goldfields of Western Australia. The targets will be tested with a reverse-circulation drill rig as early as possible in the coming financial year. A mapping and sampling program is continuing to further delineate the geological and structural settings.
Ora Banda Mining is planning to strip back its Goldfields Davyhurst gold mining operation to become a single deposit mine in the short term to maximise cashflows. Mining of the Riverina Stage 1 open pit will cease this quarter and the Sand King stage 1 pre-strip will be deferred until November as the company looks to turn the operation into a leaner, meaner cash cow in the short term.
Horizon Minerals has unearthed a mixed bag of geological goodies at its Yarmany project near Coolgardie. Initial drill results confirm gold, nickel-cobalt-copper, silver, lead, zinc and even lithium mineralisation to be present, opening up a grab bag of opportunities for the gold developer. The Yarmany project sits around 25 kilometres northwest of Coolgardie and takes in some 400km2 along the prospective Mt Ida Fault and Reptile shear zone.
Goldfields focused Ora Banda Mining increased gold production in the last quarter after producing 17,192 ounces of gold, the company's best quarterly performance since the re-start of its Davyhurst operation in WA. 18,806 ounces of gold were sold for the quarter at an average price of $2,472 per ounce resulting in the operation turning cashflow positive for November and December.
Ora Banda Mining has now received all assay results from first-pass regional air-core and brownfields reverse circulation drilling programs conducted earlier this year at its Davyhurst project north of Kalgoolie. A spectacular 5m hit at almost an ounce to the tonne gold from 127m headlined the results at Victoria Workings approximately 300m north of the Mulline Rose pit.
Ora Banda Mining says its central Davyhurst gold processing hub and surrounding satellite mines in WA's Eastern Goldfields have continued to make performance improvements across the board during the operation's current ramp-up phase. The company eked out gold production of just over 2,450 ounces in the past couple of weeks and estimates total gold output of about 9,000 ounces across July and August.
ASX-listed gold producer Ora Banda Mining has rattled off a spate of impressive high-grade gold intersections from drilling at its Riverina underground deposit near its Davyhurst mining and processing operation about 120km north-west of Kalgoorlie in WA. Better assays include 1.3m grading 25.3 g/t gold from 217.8m, 2.8m at 21.2 g/t from 253.7m, 1.4m at 18.1 g/t from 281.6m and 5m at 16.7 g/t from 200m.
ASX-listed gold producer Ora Banda Mining has picked up a smattering of gold sniffs from a regional first-pass aircore drilling program probing priority grassroots targets near its flagship multi-deposit Davyhurst gold mine 120km north-west of Kalgoorlie. The Perth-based company put down about 150 holes for an aggregate coverage of more than 16,000m across the stack of gold prospects that have not seen any drilling previously.
Ora Banda Mining has boosted its gold reserves by 10,000 ounces across the six key deposits at its flagship Davyhurst Gold Project in the Goldfields despite the fact that it mined 28,000 ounces of it during FY21. The company is ironing out teething problems at the reinvented mine as it looks to ramp the project up to its nameplate capacity of around 80,000 ounces of production a year.
ASX-listed gold miner Ora Banda Mining has chalked up a solid quarter of gold production at its recently revived flagship Davyhurst mining and processing operation in WA. The company achieved total gold output of 10,356 ounces for the three-month period ended June 30 from 201,817 tonnes of ore treated that went at an average head grade of 1.81 grams per tonne.
Ora Banda Mining's retiring managing director David Quinlivan has officially handed over the MD's baton to Peter Nicholson, who has been in the CEO's chair for the past three months. Mr Quinlivan will now switch to being a non-executive director of the company. The executive leadership transition comes after Mr Quinlivan played an instrumental role in reviving Ora Banda's Davyhurst mine about 120km north-west of Kalgoorlie.
Ora Banda Mining has rattled off an impressive slew of high-grade drill results from the Iguana satellite gold deposit about 55km south of its Davyhurst gold production hub, 120km north-west of Kalgoorlie. Some of the stand-out intersections were 2m going at 13.6 g/t gold from 136m, 4m at 7.9 g/t from 68m, 9m at 7.6 g/t from 181m and 4m at 7.6 g/t from 84m.
WA gold producer, Ora Banda Mining has returned a clutch of high-grade drill results from the Golden Eagle underground mine, one of a series of satellite gold deposits lined up to feed the company's Davyhurst gold processing plant about 120km north-west of Kalgoorlie. Stand-out diamond drill intersections were 19m at 5.4 g/t gold including 11.1m at 8.9 g/t, and 5.8m at 15 g/t.
Newly minted WA gold producer Ora Banda Mining says it remains on track to bring its large Missouri open pit on line next month, adding some desirable harder ore into its refurbished Davyhurst gold plant that will underpin an expected fiscal year 2022 production of more than 80,000 ounces. The harder ore from the new pit will enhance the ore feed blend short-term and bolster the plant throughput rates.
