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- Ora Banda Mining (OBM) labels the December quarter a “giant stride forward with its operational performance” at its Davyhurst gold operations in WA
- During the period, the company ran open pit and underground mining operations at Riverina, Missouri and Golden Eagle
- Gold production was 17,192 ounces, the best performance since the restart of the Davyhurst operations
- Production at Riverina was greatly impacted by delays in receiving grade control drilling results and some minor pit wall failures
- On the market, Ora Banda was up 6.15 per cent at 6.9 cents at 3.15pm AEDT
Ora Banda Mining (OBM) has labelled the December quarter a “giant stride forward with its operational performance” at its Davyhurst gold operations in WA.
During the period, the company ran open pit and underground mining operations at Riverina, Missouri and Golden Eagle, with Golden Eagle completing production as planned.
Gold production was 17,192 ounces, the best performance since the restart of the Davyhurst operations, north-east of Kalgoorlie.
Majority of the increase in production came from the plant stability leading to a consistent mill throughput of about 90,000 tonnes for each month of the quarter. This is a 20 per cent throughput improvement from the prior quarter.
Production at Riverina was greatly impacted by delays in receiving grade control drilling results and some minor pit wall failures.
Mining at Missouri continued in both the phase one and two programs. Phase one is the deepening of the central part of the historical pit and phase two involved shifting part of the historical waste dump and cutting back around the entire pit to allow it to be deepened.
Golden Eagle underground operations performed strongly during the quarter. Mining was completed as planned at the end of the quarter, with mine suspension and site demobilisation of the underground contractor occurring in January.
Ora Banda recorded gold sales of 18,806 ounces for the quarter at an average price of $2,472 per ounce.
At the end of the period, the company had cash of $15 million with no debt.
Ora Banda shares were up 6.15 per cent at 6.9 cents at 3.15pm AEDT.
