Ora Banda Mining anticipates falling just short of | Australian Markets

Ora Banda Mining’s surge in the direction of changing into a 100,000-ounces-a-year producer seems to be more likely to just fall short this financial 12 months.

Ora Banda informed the Australian Securities Exchange on Friday it had produced 82,500oz during the 11 months to the top of May however would possible churn out solely 12,500oz in June, the ultimate month of the 2024-25 12 months.

This complete of 95,000oz could be 5000oz, or 5 per cent, short of its beforehand signalled FY25 steerage, which had a bottom-end goal of 100,0000z from the Davyhurst project north-west of Kalgoorlie-Boulder.

The company stated the principle trigger of the discount in ounces was the prolonged downtime of the processing plant as a result of of the set up of lifter and lining upgrades to the first mill.

Also, the commissioning and ramp-up of the mill had taken longer than anticipated to realize focused each day throughput charges of 3700-4000 tonnes.

Nevertheless, Ora Banda stated this 12 months’s output will nonetheless be 35 per cent higher than FY24 when the company produced 70,000oz.

Ora Banda stated FY25 all-in-sustaining prices was anticipated to be $2600/oz, 4 per cent above the highest finish of earlier steerage of $2500/oz.

The company on Friday stated the processing plant works and commissioning had been full, with the plant demonstrating the required efficiency of up to 4000 tonnes per day, which was driving the June forecast of producing 12,500oz — the goal month-to-month fee to realize annual manufacturing of 150,000oz.

It stated an upside of the prolonged downtime and decrease mill throughput was that ore stockpiles on the finish of May had elevated to 83,000t at 2.8g per tonne for 7500oz of medium-grade ore and 114,000t at 1.2g/t for 4400oz of low-grade ore.