Ann: Investor Presentation - Update May 2021, page-19

Yes is all the rage these days on HC ... downrampers galore ..I agree pretty sad

nothing wrong with AIS more of a Copper producer ... short GOLD LOM Vs the likes of OBM LOM 5yrs and growing ...

OBM real upside is converting more resources and new resources into JORC reserves and turning these reserves into fat free cashflows ...we pretty much a new rebuilt plant(just look how much CAPEX spent over the years) to similar specs to Major Gold miners in the area NST etc ... Vs the early days Daveyhurst that had issues with some of the harder UG ores

OBM along with previous companies have always had a great landholding on MAJOR Gold trends but has never had the capital to really explore to the extent thats needed to impress the market that they could develop into a mid-cap Gold Producer with a Large single Moz+ deposit of Gold...

I think OBM are forming a base now FINALLY to see OBM become a successive longterm Gold producer..

Exploration ...Tenement consolidation occurred in 2007, but no coherent exploration effort undertaken as yet... this has been changing ..

1# -200 strike kms of greenstone sequences prospective for gold as well as nickel,Copper sulphide ---at present we have another 28,000m of exploration underway to the end of JUN21 before the next program

2# -Gold resources 2.17Moz and growing ... gives us a great base to grow from 460Koz reserves
=my est min $270mill free cashflows (from this first stage)

3# 1.2Mtpa Gold Plant + Infrastructure - honestly how much time and cost to replace this on some BF nowhere location many explorers hope to one day produce Gold ??? $200mill 3-5yrs ???

From latest Euro report-https://www.orabandamining.com.au/investor-centre/

Ore processed 128kt @ 1.5g/t Au @ 90.8% recoveries for 5.7koz production and 3.2koz gold sold during the quarter (revenue ~A$7m at average gold price A$2,235/oz, capitalised).

(So on this ramp up we see the plant is recovering 90.8% of Gold from the low grade ores ...
that target to DFS so even though the plant had some issues with parts weather the circuit is working as planned)

oFY22 will be the first full year of production and we see potential for ~90koz @ ASIC ~A$1,570/oz, growing to +100koz @ ~A$1,580/ oz FY23

Exploration spend of ~$1.3m MarQ for FY21ytd of ~$3.9m. OBM has a $10m budget for CY21, which aims to increase resource confidence to ultimately grow reserves for longer mine life and sustain higher production levels, drilling continues to be accelerated (2H weighted).

We maintain our Buy, and $0.50/sh price targe