Ora Banda Mining to receive $11 million for Mt Ida
TNT is currently completing due diligence, which should be finalised along with approvals, by close of business on Friday, September 17.
Company
Ora Banda Mining Ltd
ASX:OBM
Ora Banda Mining Ltd is a uniquely positioned gold exploration and development company as 100% owner of the Davyhurst Gold Project in the highly productive eastern goldfields region of Western Australia. Davyhurst is located just 120 km north-west of Kalgoorlie. The region is host to multiple gold deposits with Ora Banda Mining currently carrying a total mineral resource inventory of 2.00 Moz at an average grade of 2.5 g/t Au.
145 stories · page 6 of 8
Ora Banda selling Mt Ida Project to TNT Mines for $11 million
The agreement is subject to several conditions including the purchaser receiving commitments for a capital raising of not less than A$12 million to fund the acquisition.
Ora Banda positions for stronger, consistent Davyhurst gold production through enhancements
"It is most pleasing to see the step-change in our plant’s performance and throughput. It is testament to our team and their hard work that all the action plans are being executed with successful outcomes,” says MD.
Ora Banda Mining director increases holding through placement participation
David Quinlivan’s indirect interest in Ora Banda has increased by more than 588,000 shares, raising $100,000 for the gold explorer.
Ora Banda Mining hits high-grade gold at Riverina Underground ahead of resource update
These new strong results have the potential to deliver improved grades and confidence for the existing underground resource.
Ora Banda Mining buoyed by high-grade gold results at grassroots targets within WA Goldfields tenement package
Further aircore and reverse circulation drilling is being planned at regional targets to follow up the strong aircore results.
Ora Banda Mining boosts gold ore reserve to 470,000 ounces at Davyhurst Gold Project
Davyhurst comprises a 1.2 million tonnes per annum gold processing plant, fully permitted mining licences, fully-equipped accommodation facilities at Davyhurst and Riverina and a full complement of supporting infrastructure.
Ora Banda directors show confidence in gold strategy through share purchase plan participation
Earlier this month the company unveiled strong initial gold results from infill drilling at Iguana gold deposit in Western Australia.
Ora Banda Mining takes capital raising total to $21.745 million after completing SPP
Earlier this month the company unveiled strong initial gold results from infill drilling at Iguana gold deposit in Western Australia.
Ora Banda Mining appoints Peter Nicholson as managing director
The appointment follows the retirement of David Quinlivan from the role but the company will continue to benefit from his knowledge and expertise as a non-executive director.
Ora Banda Mining's strong initial Iguana gold results confirm resource potential
The first results from Ora Banda’s exploration campaign at the Iguana prospect are in, confirming the deposit’s resource potential.
Ora Banda Mining kicks off $4 million share purchase plan to raise additional capital for Davyhurst gold operations
The WA-focused gold and base metal company is set to raise further capital after it finalised a $21 million placement.
Ora Banda Mining reels in $21 million in strongly supported placement with SPP to follow
A share purchase plan will now be offered to eligible shareholders aiming to raise a further $4 million.
Ora Banda Mining in trading halt pending capital raising announcement
Assays for 17 diamond drill holes remain pending with mineralisation remaining open down-plunge and at depth.
Ora Banda Mining hits further broad, high-grade gold during Golden Eagle underground diamond drilling at Davyhurst Project
Assays for 17 diamond drill holes remain pending with mineralisation remaining open down-plunge and at depth.
Ora Banda Mining makes progress with ramp-up activities at Davyhurst Gold Project
Increasingly harder transitional and primary material from Riverina open pit, together with increasing quantities of primary ore from the Golden Eagle underground mine and the start of primary ore deliveries from Missouri open pit will see
Ora Banda Mining becomes Australia’s newest gold producer with two operating gold mines and a third in development
The March quarter of 2021 marked a major milestone as Ora Banda transitioned from a developer to a gold producer with two operating mines and a third in development.
Ora Banda Mining delivers further strong gold results from Riverina South and Riverina Underground infill drilling
The Riverina Project’s high proportion of oxide tonnes and current mineral resource of 322,000 ounces and open-pit reserve of 81,000 ounces make it an attractive early ore source for the company’s Davyhurst Project.
Ora Banda Mining signs A$15 million credit approved offer with Commonwealth Bank and appoints Peter Nicolson as new CEO
The facility is a significant step, given the company’s recent transition from developer to producer, with significant exploration upside.
Ora Banda Mining infill drilling at Riverina South returns up to 3 metres at 32.4 g/t gold
The objective of this resource infill drilling program is to close the current drill spacing from a nominal 40 x 25 metres pattern to a 20 x 25 metres pattern to allow the inferred resource to be upgraded.