• New 3.0 Mtpa processing plant at Davyhurst approved
• Waihi Underground mine development approved
• Increased revolving credit facility and gold price protection strategies
• Targeted production capacity of 4.2 Mtpa for FY29
• Substantial unit cost reductions expected

Ora Banda Mining Ltd (ASX:OBM) announced its DRIVE to 300 aspiration, targeting the next phase of growth with several key projects. The Ora Banda Board approved a new 3.0 Mtpa processing plant at Davyhurst, with GR Engineering Services as the preferred contractor for an EPC contract valued at A$233 million. The total capital expenditure for this project is estimated at A$375 million, with works planned to commence in early FY27 and commissioning scheduled for Q3 FY28. Additionally, the Board approved the development of the Waihi Underground mine, which is expected to contribute higher-grade ore during FY28. Ora Banda also enhanced its balance sheet with a new A$200 million revolving credit facility and gold price protection strategies, including AUD Gold Put Options and Call Options.

Ora Banda targets 4.2 Mtpa processing capacity by FY29, with substantial unit cost reductions expected.

Ora Banda aims to double production with its DRIVE to 300 aspiration, positioning itself as a long-term sustainable gold business.