Ora Banda Mining (ASX: OBM)

Reported on its financial and operating activities for the year ended 30 June 2025 – a year during which the Company demonstrated the robustness of its underground strategy, and record revenues of A$404 million.

Closing cash increased by $57.4 million despite spending over $124.2 million on exploration, resource development and capital.

 

 

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	Ora Banda	ASX: OBM
	Stage	Production + development
	Metals	Gold
	Market cap	A$1.6 Billion @ A$0.86
	Location	Western Australia
	Website	www.orabandamining.com.au

 

 

 

 

 

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Ora Banda Mining Announce Record FY25 Results

 

 

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Ora Banda Mining Limited (ASX: OBM) (“Ora Banda”, “Company”) is pleased to report on its financial and operating activities for the year ended 30 June 2025 – a year during which the Company demonstrated the robustness of its underground strategy.

Closing cash increased by $57.4 million despite spending over $124.2 million on exploration, resource development and capital including:
• $73.5 million on Riverina and Sand King underground development;
• $28.3 million on resource development & exploration activities; and
• $22.4 million on growth capital works projects for Sand King, camp upgrades and on-going improvement projects at the Davyhurst mill.

FY25 Highlights:

• Record revenue of $404.3 million (FY24: $214.2M)
• EBITDA increased by 243% to $184.6 million
• Closing cash of $84.2 million (June 2024: $26.8 million), up $57.4 million
• Net Profit after Tax (NPAT) increased 575% to $186.1 million including a $73.1 million net income tax benefit from the recognition of a deferred tax asset associated with carry forward losses
• Record gold sold from the Davyhurst mill of 91,687oz at an AISC3 of $2,693/oz (FY24: 67,255oz at an AISC of $2,767/oz)
• Riverina Underground achieved capital payback only 18 months after commencement
• Operations commenced at the Group’s second underground mine, Sand King, with all key metrics achieved on schedule
• Executed a Syndicated Facility Agreement (“SFA”) with ANZ and CBA for a revolving credit facility (“RCF”) of A$50 million for an initial 2-year term.

 

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The Group achieved record production for the year with a total of 92,399oz produced (including attributed ounces) representing a 32% increase on FY24. The increase was driven by a larger percentage of higher-grade Riverina Underground ore being processed in FY25, together with the introduction of Sand King material from February 2025.

The increased production coupled with a higher realised gold price (A$1,159/oz higher than FY24) resulted in record revenue of $404.3 million.

Riverina Underground reached commercial production on 1 August 2024 following two consecutive months of steady state production and achieved payback of its capital investment within 18
1 EBITDA – earnings before interest, tax, depreciation and amortisation. EBITDA is a non IFRS measure
2 In the current year, the Group recognised deferred tax assets relating to carry forward unused tax losses. Based on the Group’s 2024 income tax return & estimates for 2025. the Group has carried forward losses of $277.4M ($83.2M tax effected). The difference between this $83.2M and the $73.1M income tax benefit is associated with timing differences on deferred taxes.
3 AISC – all-in sustaining costs per ounce sold (inclusive of attributed ounces)
4 Ore sale agreement with Norton Goldfields delivering 1.4koz of attributed ounces for FY25 – refer to ASX Announcement “FY25 Production Results & FY26 Guidance” dated 11 July 2025

 

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The full news release can be viewed HERE

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