Company
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.
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The company is well placed to progress process circuit optimisation and production ramp-up with in excess of 200,000 tonnes of run-of-mine stocks available for processing.
The company has continued the strong progress made in the December quarter with wet commissioning of the plant underway and ore being delivered to the ROM pad.
Riverina South prospect covers a prospective corridor of around 1-kilometre immediately along strike to the south of the Riverina deposit and is host to numerous historic gold workings.
Multiple production sources are expected to underpin a potential long-life operation at Davyhurst, with six deposits to be mined by a combination of conventional open pit and underground mining techniques.
Manfam Pty Ltd has acquired 174,000 fully paid ordinary shares in the company at 23 cents per share.
Multiple production sources are expected to underpin a potential long-life operation at Davyhurst, with six deposits to be mined by a combination of conventional open pit and underground mining techniques.
Initial open-pit mining at Riverina is scheduled to commence in quarter four of 2020.
The company’s definitive feasibility study released in June highlighted the potential of multiple production sources to underpin a long-life operation at the Davyhurst Gold Project in Western Australia.
The offer was fully subscribed by eligible retail shareholders with A$7.4 million in applications received versus A$3.3 million on offer.
The work will include refurbishment, optimisation and recommissioning of the existing 1.2 million tonnes per annum Davyhurst Gold Processing Plant, borefields and associated infrastructure.
The retail component of the entitlement offer seeks to raise around A$3.3 million through a 1 for 9 non-renounceable pro-rata entitlement offer of new fully paid ordinary shares.
The gold explorer is targeting the start of production at Davyhurst in January 2021.
Multiple production sources are expected to underpin a potential long-life operation at Davyhurst, with six deposits to be mined by a combination of conventional open pit and underground mining techniques.
The new underground resource at Callion results from recent drilling that targeted the Callion Main Lode below the A$2,400/ounce optimised open pit resource shell.
The total Mineral Resource now stands at 23.3 million tonnes at 2.7g/t for 2.05 million ounces.
There are maiden reserves at Riverina and Golden Eagle while Missouri and Sand King reserves have increased by 8% and 18% respectively.
The company’s regional drilling program focused on testing aspects of the Mulline and Golden Lode mineralised corridors which have been under explored in the past.
The regional drilling program focused on testing aspects of the Mulline and Golden Lode mineralised corridors which have been underexplored in the past.
Further resource growth is expected at Callion with underground resource modelling work continuing.
The definitive feasibility study into the restart of mining and processing operations at Davyhurst remains on schedule.
