Ora Banda Mining has delivered record gold production for the March quarter, as well as an updated mineral resource for Round Dam, highlighting the company’s ongoing success across its Davyhurst operations in Western Australia.
The company delivered 38,766 ounces of gold during the quarter ending March 31, a 21 per cent increase on the December 2025 quarter, with 38,637 ounces of gold sold.
This generated AU$76.3 million in free cash flow, lifting the company’s closing cash balance to AU$231.7 million. This result was achieved despite a AU$52.5 million investment into capital projects and resource development.
Ora Banda Managing Director Luke Creagh said: “The team has done an outstanding job with the ramp-up of operations, during fiscal 2026 with this quarter showing a 21 per cent increase in ounces produced over the December period which has delivered AU$76.3 million in free cash flow after substantial investments into future growth projects.
Beyond current production, Ora Banda has made significant strides in its exploration and development pipeline. The company’s Davyhurst project saw a tenfold increase in the Round Dam mineral resource to 1.3 million ounces, contributing to a 57 per cent boost in total group mineral resources.
Additionally, exploration at the Little Gem prospect continues to yield positive results, including the discovery of the new ‘Sapphire’ trend as a potential new gold lode system at the prospect.
“Our exploration activities continue to deliver outstanding results, including high-grade intercepts from Golden Pole, discoveries at Little Gem (Sapphire Trend) and the release of a significant 1.3 Moz Mineral Resource for Round Dam – these have been made possible through the company’s AU$73 million fiscal 2026 investment into exploration and resource development across the Davyhurst Project,” Creagh said.
To sustain this momentum, the company has approved AU$63 million in new internally funded capital investments.
Key growth initiatives include AU$30 million to recommence open-pit mining at the Waihi deposit, located just three kilometres from the main processing plant.
The company will also invest AU$23 million to increase accommodation capacity at the Davyhurst and Siberia camps.
While production guidance for fiscal 2026 remains steady at 140,000 to 155,000 ounces, the company has adjusted its all-in sustaining cost (AISC) guidance to AU$3,250 to AU$3,350 per ounce, primarily due to higher third-party processing costs.