Ora Banda lifts FY26 gold guidance by 60%, flags ramp-up issues
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The news: Ora Banda Mining has issued gold production guidance for financial year 2026 that is about 60% higher than production in financial year 2025.
The numbers: The gold miner expects to produce 140 to 155 kilo ounces of gold. This is higher than the FY25 production of 92.5 kilo ounces, representing organic growth of 32% year-on-year. All-in sustaining cost is expected to be in the range of $2,800 to $2,900 per ounce.
Closing cash for financial year 2025 of $84.2 million included $57.4 million in free cash flow and increased $3.5 million in the June quarter.
The miner also reported that June quarter production for 2025 came in at 21.9 kilo ounces, where it was initially expected to come in at around 24 kilo ounces. This was due to a slower-than-expected ramp up of its processing mill and mining delays at the Riverina Underground.
The context: The improved production guidance for financial year 2025 is in part due to a proposed ore sale agreement with Norton Gold Fields (NGF).
Production will also be driven by a full-year contribution from the Sand King Underground Mine and a memorandum of understanding with NGF for Ora Banda to acquire and process 400 kilotonnes of ore.
What they said: Ora Banda managing director Luke Creagh said that despite challenges in the June quarter, the company is “set up well going into FY26”.
The source: ASX
