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ORA BANDA MINING LTD - Corporate Spotlight

Ora Banda Mining (ASX: OBM) is the latest Australian gold producer, having just poured... Ora Banda Mining (ASX: OBM) is the latest Australian gold producer, having just poured it's first gold from its Davyhurst Gold Project in the highly prospective Eastern Goldfields region of Western Australia.More

Corporate Spotlight

Ora Banda Mining (ASX: OBM) is the latest Australian gold producer, having just poured it's first ore gold from its Davyhurst Gold Project in the highly prospective Eastern Goldfields region of Western Australia.
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OBM Secures $21 Million Raise

OBM SECURES $21M IN SHARE PLACEMENT

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Ora Banda Mining (ASX:OBM) set to undertake $21M placement 

Managing Director David Quinlivan

  • Ora Banda Mining (OBM) has received firm commitments to undertake a $21 million placement
  • Roughly 124 million new fully paid ordinary shares will be issued to professional and sophisticated investors at 17 cents 
  • Ora Banda will also undertake a share purchase plan to raise a further $4 million
  • The money from the placement and share purchase plan will be used to fund maiden reserve work, regional exploration and resource definition 


Ora Banda Mining (OBM) has received firm commitments to undertake a $21 million placement.

Roughly 124 million new fully paid ordinary shares will be issued to professional and sophisticated investors at 17 cents.

This price represents a 17.1 per cent discount to Ora Banda's share price on June 7 of 20.5 cents and a 17.1 per cent discount to the five-day volume-weighted average price of 20.5 cents.

Subject to shareholder approval, 588,236 shares will be issued to Managing Director David Quinlivan to raise $100,000.

Ora Banda has also announced it will be undertaking a share purchase plan (SPP) to raise a further $4 million.

Eligible shareholders will be able to subscribe for up to $30,000 worth of shares without incurring any brokerage or transaction costs. 

If demand exceeds $4 million, Ora Banda has the right to scale-back applications.

The SPP will open on June 11, close on June 16 and shares will be issued on July 9.

Ora Banda will use the money from the placement and SPP to fund maiden reserve work, regional exploration and resource definition.

"We are very pleased with the support the placement received and welcome a number of highly credential Australian and offshore investors to the register," Mr Quinlivan said.

"Funding to progress resource and reserve definition and advance high priority exploration targets ahead of when previously planned will further underpin the company's long-term future."

See Full Story Here. 

VIDEOS

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OBM Undertake $21 Million Raise - June 



Interview With David Quinlivan - February 2021 




Interview with David Quinlivan, MD Orabanda Mining - August





Interview with David Quinlivan, MD Orabanda Mining - May Updates




OBM AUSTRALIA'S NEWEST GOLD PRODUCER

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  • Ora Banda Mining (OBM) has successfully recommissioned its Davyhurst gold processing plant with the first gold poured on February 7
  • Managing Director David Quinlivan says the first gold pour marks Ora Banda's transition from developer to producer
  • The Davyhurst gold processing plant is a 1.2 million tonnes per annum operation to support the greater Davyhurst Gold Project in WA
  • Along with the plant itself, Ora Banda has commissioned other infrastructure, such as upgraded roads, chemical storage facilities and accommodation, to support the plant
  • The processing plant is currently running at a throughput rate of nearly one million tonnes per annum
  • However, Ora Banda is focused on ramping up production by more than 200,000 tonnes


Ora Banda Mining (OBM) has successfully recommissioned its Davyhurst gold processing plant with the first gold poured on February 7.

Additionally, all the supporting infrastructure needed to sustain ongoing processing activities at the processing plant is now in place and has been commissioned.

Site infrastructure includes a 8.25-megawatt gas and diesel-fired power station, process plant chemical storage facilities, upgraded road infrastructure for ore supply routes and an upgraded 172 room camp at Davyhurst.

The Davyhurst gold processing plant is a 1.2 million tonnes per annum operation to process material from the greater Davyhurst Gold Project in Western Australia.

The pouring of the first gold bar is significant for Ora Banda and marks a long-awaited milestone.

First gold bar. Source: Ora Banda Mining.

"Yesterday’s gold pour marks a significant milestone for Ora Banda – our transition from developer to producer," Managing Director David Quinlivan said.

"We are pleased to reach this important milestone and congratulate all who have been involved in the accomplishment. It has been an impressive team effort to deliver this project into production under the uniquely challenging circumstances of 2020 and 2021," David added.

Currently, the Davyhurst processing plant is running at a throughput rate of nearly one million tonnes per annum however Ora Banda is well positioned to ramp up production by more than 200,000 tonnes as outlined in its definitive feasibility study (DFS).

See Full Article Here. 

OBM POSTS FURTHER GOLDEN EAGLE RESULTS

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Ora Banda Mining (ASX:OBM) receives further results from Golden Eagle

Mining

ASX:OBM
Ora Banda Mining (ASX:OBM) - Outgoing CEO & Managing Director, David Quinlivan - The Market Herald
Outgoing CEO & Managing Director, David Quinlivan
Source: The Market Herald

  • Ora Banda Mining (OBM) has received further assay results from the Golden Eagle deposit at the Davyhurst Gold Project in WA
  • Underground diamond drilling began in late February and was completed in April after 61 holes were drilled
  • The aim of this drilling was to infill and extend the mineral resource at Golden Eagle of 393,000 tonnes at 3.9g/t gold
  • Results peaked at 16g/t gold and Ora Banda is now waiting on results from the last 17 holes

Ora Banda Mining (OBM) has received further assay results from the Golden Eagle deposit at the Davyhurst Gold Project.


The Davyhurst Gold Project lies 120 kilometres northwest of Kalgoorlie in Western Australia.


Underground diamond drilling began in late February and was completed in April after 61 holes, for 8370 metres, were drilled.


The aim of this drilling was to infill and extend the mineral resource at Golden Eagle of 393,000 tonnes at 3.9g/t gold for 49,000 ounces.


Best new results include 5.8 metres at 15g/t gold including 5.5 metres at 16g/t gold, and 13.8 metres at 4.1g/t gold including 4.6 metres at 9.5g/t gold.


Ora Banda is waiting on results from a further 17 holes which are expected in due course.


"We are currently developing northwards on the 310 level towards some of these very strong results and are certainly looking forward to mining this high grade area in the near term," Managing Director David Quinlivan said.


"The Southern Mining Area has also yielded some strong results which our geology team are currently remodelling," he added.


Ora Banda is now undertaking mapping, drilling and mine development to better understand the gold distribution.


It has been measured down-plunge for more than 100 metres and it's believed to continue further.


Read the Full Article on The Market Herald here

OBM CONTINUES GOLD EXPLORATION IN Q3

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Ora Banda Mining (ASX:OBM) continues gold exploration in Q3

Mining

ASX:OBM
Ora Banda Mining (ASX:OBM) - Managing Director, David Quinlivan - The Market Herald
Managing Director, David Quinlivan
Source: HotCopper

  • Ora Banda Mining (OBM) has spent the March quarter undertaking work at its West Australian gold projects
  • Open pit mining continued at the Riverina Project with nearly 16,500 metres of reverse circulation in pit grade control drilling completed
  • A total of 1.18 million bank cubic metres was mined with the northern half of the project now subject to drill and blast activities
  • At the Davyhurst project, Ora Banda restarted the Davyhurst processing plant and recommenced underground mining operations at the Golden Eagle deposit
  • Pleasingly, first gold pour was achieved on February 7, marking a significant milestone for the company
  • Ora Banda burnt nearly $3.92 million in the quarter with the majority going towards administration, exploration and evaluation costs
  • As of March 31, the company had $18.45 million in total available funding, representing 2.6 quarters of use if spending levels remain the same


Ora Banda Mining (OBM) has spent the March quarter undertaking work at its West Australian gold projects.


Riverina Gold Project


Throughout the quarter, Ora Banda continued open pit mining at the Riverina Project with only six days lost due to weather.

All up, 16,459 metres of reverse circulation in pit grade control (RCGC) drilling was completed.


A total of 1.18 million bank cubic metres (Mbcm) was mined in the quarter and the northern half of the project is subject to drill and blast activities.


Additionally, by March 31, 425 metres relative level (mRL) was reached.


The high, medium and low-grade ore has been separately stockpiled so that the high-grade ore can be processed first.


Ora Banda completed the construction of the Riverina camp in the quarter with the full 64 rooms now occupied.


This has reduced travel time, providing a significant increase in site time and productivity levels.


Davyhurst


Ora Banda restarted the Davyhurst processing plant and recommenced underground mining operations at the Golden Eagle deposit in the quarter.


First gold was poured on February 7 and it marks a significant milestone for the company.


Dewatering and rehabilitation at Golden Eagle was completed and for the quarter it produced 25,235 tonnes at a grade of 3.7g/t gold.


Furthermore, 338 metres of underground development was completed, consisting of 201 metres of capital development and 137 metres of operating development.


Power station


Ora Banda's new power station was commissioned during the quarter following processing operations beginning in January.


While the demand for power remains lower than expected for the time being, Ora Banda expects it will increase as harder ores are introduced.


Financials


Ora Banda burnt nearly $3.92 million in the quarter with the majority going towards administration and exploration and evaluation costs.


The company also invested $8.77 million in property, plant and equipment, and resource development.


As of March 31, Ora Banda had $18.45 million in total available funding, representing 2.6 quarters of use if spending levels remain the same.


Read the Full Article on The Market Herald here

OBM NEAR COMPLETION OF RIVERINA DRILLING

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Ora Banda Mining (ASX:OBM) nears completion of Riverina drilling

Mining

ASX:OBM 

8 March 2021 14:10



  • • Ora Banda Mining (OBM) has received further results from the Riverina South and Riverina Underground deposits in          Western Australia
  • • Drilling at Riverina South will aim to upgrade the inferred mineral resource to indicated
  •   Work began in mid-January, and Ora Banda expects to wrap up by mid-March
  • • Drilling at Riverina Underground will upgrade and potentially extend the current mineral resource of 728,000 tonnes
  • • Both reverse circulation and diamond drilling will be undertaken at main lodes, which were last mined in the 1980s
  • • Ora Banda is up 6.12 per cent and shares are trading at 26 cents


Ora Banda Mining (OBM) has received further results from the Riverina South and Riverina Underground deposits in Western Australia.


Riverina South

Drilling at Riverina South will aim to upgrade the inferred mineral resource of 650,000 tonnes at 2.1g/t gold for 43,000 ounces to indicated.


Work has identified a one-kilometre-long highly prospective strike extension immediately south of the main mining area.


Best results to date include 10 metres at 10.8g/t gold from 80 metres including six metres at 17.3g/t gold, and eight metres at 9.9g/t gold from 69 metres including six metres at 13g/t gold.


Drilling began in mid-January, and Ora Banda will aim to wrap it up by mid-March.


This current drilling program at Riverina South is the third phase to occur and follows on from the phase two work which created the mineral resource.


Riverina Underground

Drilling at Riverina Underground hopes to upgrade and potentially extend the current mineral resource of 728,000 tonnes at 5.9g/t gold for 139,000 ounces.


Both reverse circulation (RC) and diamond drilling will be undertaken at main lodes, which were last mined in the 1980s.


The main lodes are two sub-vertical mineralised shears which span more than one kilometre in length and more than 250 metres in depth.


Best results returned include two metres at 10.9g/t gold from 126 metres, six metres at 10.1g/t gold from 96 metres and 14 metres at 6.6g/t gold from 148 metres.


"These results continue to provide a solid basis for significant open pit and underground mineral resource upgrades at Riverina South," Managing Director David Quinlivan commented.


"We accordingly have increased confidence that Riverina South has the potential to deliver both a substantial extension to current open pit mining operations and a new underground mining operation at Riverina," he said.


"Numerous highly prospective areas remain to be tested at Riverina and we look forward to the ongoing exploration efforts at Riverina delivering exciting results into the future," he added.


Read the full article on the Market Herald here

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