Ora Banda Mining Ltd Announces Key Growth Projects
Key points
- Construction of a new 3.0 Mtpa processing plant at Davyhurst for A$375 million
- Waihi Underground mine approved with capital cost of A$90 million
- Upsized revolving credit facility of A$200 million and gold price protection options
- Targeted 4.2 Mtpa of combined milling nameplate capacity for FY29
- Steady state production expected by Q1 FY28
Full summary
Ora Banda Mining Ltd has announced the approval of key projects aimed at doubling production as part of its DRIVE to 300 aspiration. The projects include the construction of a new 3.0 Mtpa processing plant at Davyhurst for A$375 million, the development of the Waihi Underground mine with a capital cost of A$90 million, and the enhancement of financial strategies with an upsized revolving credit facility of A$200 million and gold price protection options. These projects are expected to deliver benefits such as 4.2 Mtpa of combined milling nameplate capacity for FY29, substantial unit cost reductions, and mitigation of single asset risk. The company plans to fund these projects through existing liquidity, operating cashflow, and available debt facilities.
Guidance
Targeted 4.2 Mtpa processing capacity by FY29
Outlook
The company aims to double production and enhance financial strategies to support its DRIVE to 300 aspiration.
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