Ora Banda Mining Ltd (ASX:OBM, OTC:ESGFF)Ltd has updated its production guidance for the 2025 financial year (FY25), forecasting gold output of approximately 95,000 ounces—down 5% from the lower end of its previous guidance. Despite this revision, the company expects FY25 production to represent a 35% increase on the 70,000 ounces delivered in FY24.
The company attributed the revised outlook primarily to delays during mill upgrades and ramp-up but notes that mining performance remains strong, with June quarter production set to reach around 24,500 ounces.
Processing plant downtime impacts short-term production
Gold production for April and May totalled 12,100 ounces, with June forecast to contribute up to 12,500 ounces.
The anticipated June quarter output of approximately 24,500 ounces has been affected by extended processing plant downtime, primarily due to lifter and liner upgrades to the primary mill.
Delays in commissioning also slowed the ramp-up to the targeted throughput of 3,700–4,000 tonnes per day. The company has since completed commissioning, and the plant has achieved the required performance.
Strong mining performance and stockpile growth
Despite mill-related delays, mining operations remain on track. In June alone, Riverina is forecast to contribute 8,500 ounces and Sand King 6,000 ounces, totalling an estimated 14,500 ounces as both pits advance.
Stockpiles at the end of May increased significantly due to the slower mill throughput, reaching 83,000 tonnes at 2.8 grams per tonne for 7,500 ounces of medium-grade ore and 114,000 tonnes at 1.2 grams per tonne for 4,400 ounces of low-grade ore.
Total all-in sustaining costs (AISC) are now forecast to be approximately A$2,600 per ounce, which is 4% above the top end of the earlier guidance range.