Ora Banda Mining Ltd

Description

Ora Banda Mining Ltd is a Western Australian gold producer operating the 100%-owned Davyhurst Gold Project, approximately 120 km northwest of Kalgoorlie. Its large tenure covers more than 130 km of greenstone strike, with Riverina and Sand King underground mines feeding the existing 1.2 Mtpa Davyhurst processing plant. FY26 production was approximately 140.9 koz gold, while group resources totalled 3.69 Moz and reserves 610 koz.

The investment case combines current production, a large brownfield resource base and a funded growth pipeline. Waihi Underground commenced development in September 2026 and is targeted to deliver high-grade ore from mid-2027. A new 3 Mtpa processing plant is targeted for commissioning in the March 2028 quarter, while Round Dam and multiple regional trends provide further growth optionality. The company's DRIVE to 300 plan targets 300 kozpa by FY29, but remains aspirational rather than formal production guidance.

List of Projects:

Project 1: Davyhurst Operating Hub, Western Australia — Gold / Producer
Includes Riverina Underground, Sand King Underground and the existing 1.2 Mtpa Davyhurst plant.

Project 2: Waihi, Western Australia — Gold / Development + Production Feed
Open-pit feed began in 2026 and underground development commenced in September 2026. High-grade underground ore is targeted from mid-2027.

Project 3: Round Dam, Western Australia — Gold / Development
Open-pit project with a large MRE across Walhalla and Salmon Gums. PFS is complete and FID is targeted in 2H FY27.

Project 4: New 3 Mtpa Mill, Western Australia — Processing infrastructure / Growth
A$233M EPC project targeted for commissioning in the March 2028 quarter, increasing combined nameplate capacity to approximately 4.2 Mtpa.

Project 5: Riverina Trend, Western Australia — Gold / Resource growth
Includes Riverina, British Lion, Silver Tongue, Forehand, Sunraysia and Little Gem.

Project 6: Siberia Trend, Western Australia — Gold / Resource growth
Includes Sand King, Missouri, Palmerston/Camperdown and Black Rabbit.

Project 7: Mulline Trend, Western Australia — Gold / Exploration
Includes the Lady Gladys/Giles corridor and other active targets.

Project 8: Greater Callion, Western Australia — Gold / Resource-stage optionality
Includes Callion and Glasson, with Callion hosting a high-grade MRE.

Project 9: Python Trend, Western Australia — Gold-Copper / Early exploration
Early-stage approximately 19 km Au-Cu system.

Other Central Davyhurst targets: Lights of Israel and Makai Shoot.

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