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OBM, ORA BANDA MINING LIMITED
nipper
post Posted: Mar 31 2021, 02:27 PM
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Posts: 8,713
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In Reply To: nipper's post @ Mar 31 2021, 02:14 PM

Australia’s newest gold producer ... first gold poured 7 February 2021

QUOTE
• Financially robust project ; 5.2 year mine life ; 81kozpa average annual gold production ; A$68.8M .. average annual free cash flow (at A$2,550/oz gold price)
• Fully funded and debt-free ... $32.6 million cash and no debt at 31 December 2020 ... $15.0 million facility terms agreed with CBA
• Operations underpinned by high grade Ore Reserve ... Mining Reserve of 6.1Mt @ 2.4 g/t for 460,000oz Au
• Pre-Production Construction & Mining Programs Completed ... Two operating mines on line (Riverina Open Pit & Golden Eagle underground) ; Process plant operational and 1.2Mtpa nameplate performance testing complete ; Continuing to build ore stocks
• Mineral Resource of 24.3Mt @ 2.8g/t for 2.2Moz Au .... Ongoing exploration program targeting upgrades to Resource classification




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Mar 31 2021, 02:14 PM
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Posts: 8,713
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Ora Banda Mining Ltd (OBM) is involved in mineral development related to the Davyhurst Gold Project and mineral exploration and evaluation.


the history is a bit chequered, with recapitalisations along the waay
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On June 25th, 2019, Eastern Goldfields Limited (EGS) changed its name and ASX code to Ora Banda Mining Limited (OBM).
On December 2nd, 2015, Swan Gold Mining Limited (SWA) changed its name and ASX code to Eastern Goldfields Limited (EGS).
And prior to that, Jul 2006 to March 2010, Monarch Gold Mining Company (MON); up to 2006, it was Monarch Resources...

As a gold exploration and development company with an existing gold resource base, OBM has stayed close to its roots: it has a fully refurbished gold processing plant and near term gold production assets in the gold mining region to the NW of Kalgoorlie in Western Australia.
QUOTE
We have a good solid resource base of over 2Moz, no debt, lots of cash and a big 1350sq.km exploration portfolio to drill, managing director David Quinlivan said recently
.... and it is expected there will be an announcement of the company moving into full production, soon.


Market cap $200M



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
 



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