Ora Banda Mining Ltd (ASX:OBM) has chalked up an increase of more than 40% in gold mined to around 15,000 ounces at its Missouri open pit for the June quarter compared to the average of the previous three quarters with the WMC and Monarch lodes exposed and being mined.
These numbers at the Davyhurst Project in Western Australia have surpassed the company's expectations.
Mined ounces by quarter for 2023.
In tandem, the development of its Riverina Underground Project is progressing as planned, with development advance rates in line with projected forecast after the underground portal was mobilised and established in May.
A total advance of 225.7 metres has been completed as of June 25, including 194.3 metres in the main decline and a further 31.4 metres in other development.
Progress at the Riverina Portal (left) and Riverina Decline.
New output guidance
Separately, Ora Banda Mining has revised its 14,000 ounces of gold output guidance for the June quarter to about 12,000 ounces due to unplanned downtime on the secondary crusher.
Ora Banda managing director Luke Creagh said: “Whilst the crushing circuit downtime is disappointing, it is a short-term impact that is not expected to have any long-term implications to the business.
“We expect the current circuit to be fully operational by July 1, 2023, and the previously announced crusher upgrades in FY24 will ensure the crushing circuit is no longer a bottleneck to performance.”
About the company
Ora Banda Mining is a gold exploration and development company and owner of the Davyhurst Gold Project in the highly productive Eastern Goldfields region of WA.
The project is just 120 kilometres northwest of Kalgoorlie, a region known for multiple gold deposits.
With a substantial mineral resource inventory of 2 million ounces at an average grade of 2.5 g/t gold, Ora Banda Mining boasts a significant presence in the region and has established mineral reserves of 276,000 ounces at 1.9 g/t gold.
While primarily focused on gold, the company's tenements also display strong potential for other valuable minerals such as nickel, copper and lithium.
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