Mining Review 16th February 2025

Horizon Metals announced the processing of the first ore from the Phillips Find gold mine. Ora Banda Mining announced good drill results from their Riverina gold project.

The price of gold jumped but with Donald Trump and Vladimir Putin talking about peace, what will happen if the Ukraine war finishes?

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Calibre Mining – El Limon Mine, Nicaragua

City Investors Circle Mining Review 16th February 2025

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The price of gold jumped again, but with Donald Trump and Vladimir Putin talking about peace, what will happen if the Ukraine war finishes?

I fear any sign of a peace settlement will drive the price of gold downwards fairly quickly, and that would remove some of the gains made recently in the producing gold miners. 

I am an investor rather than a trader, but if such a move happens I may be tempted to reduce some of my holdings in my ISA (As there’s no CGT issue), and look to re-invest at a lower level in the same companies.

It’s going to be tough call, and valuations may fall faster than we would like if such a scenario arises, but it’s one I’m looking at.

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Horizon Metals announced the processing of the first ore from the Phillips Find gold mine. They are one of three companies moving into production that I have recently invested in due to their policy of early stage mining to self fund ongoing exploration, thus avoiding dilution.

Ora Banda Mining announced good drill results from their Riverina gold project. The share price has just reached A$1, four times my original purchase price less than a year ago. How I wish I could repeat that sort of decision more often!

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  Ora Banda Announced Successful Drilling at Riverina

  Horizon Minerals Processes First Ore at Phillips Find

  Lefroy Exploration executed Agreement to mine the Lucky Strike gold deposit

  Capricorn Metals Acquired Mummaloo to Expand Mt Gibson Tenure

  Calibre Mining Expanded Mineralization to Surface at Frank

  Horizon Minerals Poseidon Takeover Gets The Green Light

  Mining Review 9th February 2025

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We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non-deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

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This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

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Declaration

At the time of writing the author may hold positions in any of the stocks mentioned.

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Ora Banda Mining (ASX: OBM)

Provided an update on its continued exploration success at the high-grade Riverina Gold Camp.

Deep drilling at Riverina Underground confirms continuity of high-grade gold
mineralisation over 300m below the current mine plan, with the drill campaign still
progressing.

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ORA BANDA – SUCCESSFUL EXPLORATION DRILLING AT RIVERINA PAVES
THE WAY FOR MULTI-YEAR MINE LIFE EXTENSION

Ora Banda Mining Limited (ASX: OBM) (“Ora Banda”, “Company”) is pleased to provide an update on its continued exploration success at the high-grade Riverina Gold Camp.

Highlights:

• Deep drilling at Riverina Underground confirms continuity of high-grade gold
mineralisation over 300m below the current mine plan, with the drill campaign still
progressing
• Extensional drilling from Riverina Underground extends mineralisation in central
area resulting in immediate additions to mine plan
• Potential new greenfields discovery at Little Gem, located 2.5km south along strike
of Riverina Underground with first drill hole intersecting 3 parallel lodes, at good
grade and width
• Board has approved additional spend of $16 million in Exploration & Resource
Development and $29 million in Capital to rapidly advance drilling and expand
infrastructure.

Since October 2024, two surface diamond drill rigs have been drilling to test depth extents at the Riverina Underground as well as 2 underground drill rigs focussing on near mine extensions. 

These programs are approximately 50% complete, however have delivered significant results by extending known structure and mineralisation to over 1km deep, which is 800m below the current working level and 500m below current mine plan.

In addition, the deep drilling has identified a high-grade shoot that is over 600m below current workings and 300m below current mine plan with intersections of 2.9m @ 36.0 g/t and 2.9m @ 18.9 g/t on the main lode and remains open at depth.

Significantly, the latest drilling results demonstrate the continuity of the mineralised structures which remain open and display strong tenor and grade in the deepest holes.

The main lode mineralised structure has been intersected in its anticipated position despite large step outs and drill hole depths in excess of 1km.

The high-grade shoot style of the mineralisation is consistent with what is observed in the current underground workings.

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Ora Banda’s Managing Director, Luke Creagh, said:

“The significant results that are flowing from deeper drilling at Riverina Underground are nothing short of remarkable and point to a future step change for the business as we can now see through to a multi-year expansion in mine life.

“Equally as exciting has been the first hole, a potential greenfields discovery, at Little Gem. The tenor of Little Gem’s mineralisation and its multi-lode structure exemplifies the highly prospective nature of the Riverina trend.

 

“We will be following up the discovery hole and otherprospects to the south as a priority.

“With the potential value creation that extending and expanding Riverina presents, the additional exploration and capital spend approved by the Board sets Ora Banda on the path of rapidly realising further value from the drill bit.”

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To read the full news release, please click HERE

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Mining Review January 2025

City Investors Circle Mining Review for January 2025 has been published.

The highlighted company is Catalyst Metals.

Companies reporting good news included Calibre Mining, Orla Mining, Gold Road Resources and Ora Banda mIning.

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City Investors Circle Mining Review January 2025

City Investors Circle Mining Review for January 2025 has been published.

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The highlighted company is Catalyst Metals.

Companies reporting good news included Calibre Mining, Orla Mining, Gold Road Resources and Ora Banda mIning.

The review also lists the most significant news from our watchlist companies during January.

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To read the January 2025 Mining Review, please click HERE

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The review highlights the increasing price of Antimony due to Chinese and Russian domination of the market.

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Links to all our news reports from January 2025 are below, click the link to be taken to the full story.

  Awalé Hits 2.5 g/t Gold Eq. over 34m at the BBM Zone

  Calibre Pours its One-Millionth Ounce of Gold in Nicaragua

  West Red Lake Gold Has New Targets from Surface Sampling

  Gold Road Announces Strong Outlook and Guidance for Gruyere in 2025

  G Mining Ventures Outlines Outlook for 2025

  Ora Banda Mining December Activities Report

  Mining Review 26th January 2025

  Wesdome Gold Provides Eagle River Exploration Update

  Capricorn Announce the Acquisition of Deadman Flat Project

  Westgold Production lifts again in Q2, FY25

  Calidus Resources Delisted From the ASX

  West Red Lake Gold Intersects 45.70 g/t Au over 3.85m

  Lefroy and BML Ventures to Advance the Lucky Strike Gold Deposit

  Gold Road Announce Positive Gilmour PFS

  Mining Review 19th January 2025

  American Creek’s JV Partner Tudor Gold Intensifies Exploration Efforts

  Orla Mining Achieves Record Annual Gold Production

  Meeka Metals Announce High-Grade Gold at Turnberry

  Meeka Metals – Initiating Coverage

  Orla’s Proxy Advises Shareholders to Vote for the Musselwhite Acquisition

   Westgold Group Production Lifts in Q2 FY25

  Mining Review 12th January 2025

  Calibre Delivers Record Q4 Gold Production of 76,269 Ounces

  Faraday Copper Intersects 40.06 m at 0.78% Copper

  West Red Lake Gold Announces Positive Pre-Feasibility Study for Madsen

  G Mining Ventures Receives Vital Permit for Oko West

  G2 Goldfields Announces Filing of Reports for Proposed Spin-Out

  Gold Road Announces Record Production in December

  Mining Review 5th January 2025

  Perpetua Receives the Final Permit for Stribnite

  American Creek Resources Announces Amendment to Plan of Arrangement

  Market Review for December 2024 published

Live metal prices can be found HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

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,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

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Ora Banda Mining (ASX: OBM)

Reported on its activities for the December 2024 quarter – a period during which the Company demonstrated the robustness of its underground strategy with cashflow increasing over $9 million despite spending over $30 million on growth.

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December 2024 – ORA BANDA MINING QUARTERLY ACTIVITIES REPORT

Ora Banda Mining Limited (ASX: OBM) (“Ora Banda”, “Company”) is pleased to report on its activities for the December 2024 quarter – a period during which the Company demonstrated the robustness of its underground strategy with cashflow increasing over $9 million despite spending over $30 million on growth.

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Highlights

Cash builds to $57.8 million with Riverina Underground fully paid back
Investment of $30.8 million into growth projects and exploration continues ramp up to
150koz in FY26
Sand King Underground on target to deliver additional higher-grade feed as it advances
to steady state production in FY25

• No Lost Time Injuries
• Gold sold of 22,288oz, taking total first half FY25 gold sold to 47,824oz
• Gold production of 22,973oz with first half FY25 gold produced at 47,300oz
• Sand King Underground ramp up on track to deliver up to 21koz in a stronger second half of FY25
• Riverina Underground achieved payback in the quarter generating positive cash flows only 18 months after commencement. Riverina Underground mined grade continues to reconcile above forecast
• Davyhurst mill throughput increased 9% from the prior quarter to 280kt as upgrades take effect, more improvements are planned for the remainder of FY25
• AISC for the quarter was A$2,536/oz sold, inclusive of $116/oz of non-cash share-based payments and $183/oz relating to the treatment of higher-cost open pit stockpiles mined in prior periods which are now depleted
• Closing cash lifts to $57.8 million, a $9.1 million increase from the prior quarter, after incurring total capital, resource development and exploration expenditure of $30.8 million as follows:
o $20.8 million on Riverina & Sand King Underground development;
o $4.5 million on growth infrastructure; and
o $5.5 million on resource development & exploration activities.
• Available inventory on hand at quarter end totalled 7.5koz, including 3.3koz in GIC

Riverina Underground operation achieved payback of its capital investment within 18 months of the portal being established and the Sand King Underground operations intersected first ore just four months after the portal was established.

Riverina Underground operation continued to deliver physicals which are in line with the required run-rate to achieve FY25 production guidance. As development progresses, the establishment of more levels open will provide additional mining fronts and mining options as the year progresses.

Total ounces mined for the quarter were 22,187oz at 4.4g/t including low grade material. Overall mined grade of 5.3g/t continues to reconcile above the Ore Reserve grade of 4.2g/t with the highergrade lodes extending more than modelled.

The Sand King Underground mine achieved first development ore in December 2024 and remains on track to achieve first stoping ore in March 2025. The development ore will be batched through the Davyhurst mill commencing in February 2025.

This will be achieved 14 months after the first drill hole targeting underground mineralisation was completed.

The Davyhurst mill had a strong quarter, processing 280kt of ore at a head grade of 2.9g/t. Riverina medium and high grade (average 4.9g/t) comprised only 41% of the feed, with the low-grade open pit legacy stockpiles and low-grade Riverina ore (together averaging: 1.5g/t) filling the remainder of the mill capacity.

These low-grade feed sources are expected to be progressively replaced by
higher grade Sand King material in H2 FY25 and FY26.

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Ora Banda’s Managing Director, Luke Creagh, said:

“It is a testament to the quality of Riverina Underground that it has paid itself back in just 18 months and is now delivering strong cash flows which will self-fund Ora Banda’s production outlook towards 150koz in FY26.

 

“With Sand King Underground progressing on schedule, we have also reached an inflection point whereby the higher-grade feed from Sand King will progressively fill the Davyhurst mill, paving the way for production and cashflow to increase and costs to reduce.

 

“As the business strengthens and the results start to come through on our exploration programs, we will be in a position to rapidly advance any additional opportunities that exist in our portfolio”.

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To read the full news release, please click HERE

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City Investors Circle Market Review

Market Review for December 2024 has been published.

The highlighted company is Awale Resources.

Ora Banda Mining was the biggest riser of the year at 207%.

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Ora Banda minesite camp, Western Australia

City Investors Circle Market Review December 2024

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Market Review for December 2024 has been published.

The highlighted company is Awale Resources.

Ora Banda Mining was the biggest riser of the year at 207%.

We review the top tier watchlist of producing gold miners and an average gain of 70% over 2024, whilst the gold price rose 27%.

We maintain our stance on producing gold miners as being the place to invest in 2025 given the high gold price driving additional revenue to the bottom line.

To subscribe to our free newsletter and free to attend company presentations, please email andrew@city-investors-circle.com

To view the December 2024 newsletter please click HERE

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Live metal prices can be found HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

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This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

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Ora banda Mining (ASX: OBD)

The company is the winner of the inaugural Mining.com.au Masters of Mining Emerging Explorer Award.

The award recognises an exploration company the market is beginning to notice due to a series of successes and positive outcomes, or whose market value has increased significantly over the course of the year, outperforming their peers.

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Ora Banda minesite, Western Australia

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Ora Banda Wins The Mining.com.au Masters of Mining Emerging Explorer Award

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Ora banda Mining (ASX: OBD)

The company is the winner of the inaugural Mining.com.au Masters of Mining Emerging Explorer Award.

The award recognises an exploration company the market is beginning to notice due to a series of successes and positive outcomes, or whose market value has increased significantly over the course of the year, outperforming their peers.

The full article regarding the award and the thesis for it can be read HERE

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To read the full news release, please click HERE

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Mining Review 22nd December 2024

A busy week for news as the festive season approaches.

Westgold Announced an increase to production at Meekathara, and Ora banda Mining interescted first gold at Sand King.

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Ora Banda Mining Riverina portal

City Investors Circle Mining Review 22nd December 2024

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A busy week for news as the festive season approaches.

Westgold Announced an increase to production at Meekathara, and Ora banda Mining intersected first gold at Sand King.

All the news from our watchlist companies in the last week is below, click the lonks to be taken to the full story.

   Perpetua Resources Announced Continued Cooperation with U.S. Antimony

  Ora Banda Mining Intersected First Ore at Sand King

  Galiano Gold Announced a Buyout Of Offtake Agreement

  Westgold Announced Crown Prince Ore to Increase Production at Meekatharra

  PacGold Finds An extensive Geochemical Anomaly at Alice River

  Capricorn Metals Reserves Grow to 4 Million Ounces of Gold

  West Red Lake Gold Envisions a High-Grade Underground Satellite at the Fork Deposit

  Mining Review 15th December 2024

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Ora Banda Mining (ASX: OBM)

Provided an update on its Sand King Underground mine which forms part of the Davyhurst Gold Project. 

Sand King has achieved its first major milestone, intersecting multiple ore lodes in the first crosscut on the 315 Level. The mine remains on track to deliver first stoping ore in the March-25 Quarter.

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Ora Banda Mining – Sand King Decline

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Ora Banda Announce First Ore Interesected at Sand King

Highlights

• Sand King Underground mine development tracking to plan with first ore intersected just four months after portal establishment
• Initial grade control drilling confirms multiple mineralised lodes per level, including highgrade lodes in addition to bulk tonnage opportunities
• Surface Diamond Drilling extends and enhances 090 lodes in northern Sand King

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Ora Banda Mining Limited (ASX: OBM) (“Ora Banda”, “Company”) is pleased to provide an update on its Sand King Underground mine which forms part of the Davyhurst Gold Project and together with the Riverina Underground are the centrepiece of the Company’s DRIVE TO 150 Project with an annual production outlook of 140,000oz to 160,000oz in FY26.

Sand King has achieved its first major milestone, intersecting multiple ore lodes in the first crosscut on the 315 Level. This is in line with internal planning and the mine remains on track to deliver first stoping ore in the March-25 Quarter.

Steady state production of ~60kozpa is expected to commence in the June-25 Quarter.

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Since the establishment of the Sand King portal in late August this year, mine development has advanced on schedule and in good ground conditions with 427 decline metres and a total of 835 development metres achieved to date.

Underground diamond drilling for grade control is also underway at the mine with the rig completing 5,477 metres to date of the planned 45,400 metre program.

This initial program has confirmed multiple discrete high grade lodes and additional bulk tonnage opportunities at Sand King.

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Significant grade control results to date include:

o 6.0m @ 9.5 g/t Inc. 3.5m @ 13.7 g/t o 1.3m @ 17.6 g/t Inc. 1.0m @ 21.9 g/t
o 2

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The Company also recently conducted a small surface exploration drilling program at Sand King North. This 6-hole program targeted high-grade East-West ore structures and successfully infilled and extended the known lodes along strike.

Intercepts included:

o 8.0m @ 5.4 g/t Inc. 2.7m @ 13.6 g/t o 2.4m @ 11.5 g/t Inc. 0.4m @ 48.0 g/t
o 1.0m @ 31.3 g/t Inc. 0.5m @ 61.0 g/t o 2.2m @ 10.9 g/t Inc. 1.9m @ 11.9 g/t
o 13.6m @ 2.3 g/t Inc. 0.4m @ 13.4 g/t o 8.3m @ 2.9 g/t Inc. 0.5m @ 10.7 g/t

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Ora Banda’s Managing Director, Luke Creagh commented on the progress at Sand King

“Reaching first ore at the Sand King Underground mine is exciting, especially considering that this milestone has been achieved less than 4 months after establishing the portal, and 14 months after the first drill hole targeting underground was completed.

“The grade control and surface drilling has confirmed, enhanced and extended known mineralisation and we consider this to be at the early stages of unlocking the full potential of the Sand King mineralised system.

“As the ounce production from Sand King increases month-on-month, we are set up for a strong second half of the financial year. The combination of Riverina and Sand King high-grade ore delivers a step change to our production profile and cashflows, with a production outlook of 140,000oz to 160,000oz in FY26.”

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To read the full news release, please click HERE

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Ora Banda Mining (ASX: OBM)

Published a new corporate presentation on November 8th 2024.

OBM is one of the fastest growing ASX mining stocks in 2024.

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Ora Banda minesite, Western Australia

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Ora Banda Mining Publishes a New Investor Presentation

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Ora Banda Mining (ASX: OBM)

Published a new corporate presentation on November 8th 2024.

OBM is one of the fastest growing ASX mining stocks in 2024.

The new presentation can be viewed HERE

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To read the full news release, please click HERE

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Mining Review 8th September 2024

The major news this week was Ascot Resources placing their mine into care and maintenance so soon after opening the mine for production.

G Mining Ventures declared commercial production at TZ, and Westgold commenced mining at South Junction.

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City Investors Circle MIning Review 8th September 2024

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The major news this week was Ascot Resources placing their mine into care and maintenance so soon after opening the mine for production. This came as a complete shock, and I sold my shares in the company immediately.

By being in the UK I was able to steal a march on Canadian investors who woke up to the news that I had already digested, and I managed to sell at the open in the 20s before the share price crashed to 16 cents.

This is the second time Ascot has disappointed, and the last for me. They are indicating they need to raise yet more funds!  Sprott, who are a major investor, must be very disappointed.

The CEO needs to walk, and they need to bring in an experienced CEO in my opinion.

Ascot represented less than 1% of my portfolio, but a loss still hurts

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G Mining Ventures declared commercial production at TZ, showing how an experienced mamagement team handle a mining startup, please note Ascot!

Westgold commenced mining at South Junction in Western Australia.

Minera Alamos continue to struggle, as their latest Q2 finacial update confirms, so glad I bailed out of this when I did. I notice many newsletter writers are still onboard here, despite all the losses.

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All the signficant news from our watchlist last week is below, click on the link to be taken to the full story.

   Ascot Recources places Minto into C & M, Stock Crashes

   Westgold Commenced Mining at South Junction

  G Mining Ventures Declared Commercial Production at TZ Gold Mine

  Ora Banda Mining Gave a Davyhurst Gold Project Update

  Barton Gold High Grade Assays Confirm New Tolmer Gold System

  Minera Alamos Operations Update and Q2 Financials

  Mining Review 1st September 2024

  Market Review August 2024 published

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Market Data

Weekly % Price Changes

(US$| unless stated)

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

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Ora Banda Mining (ASX:OBM)

Povided an update on its Riverina and Sand King underground mines which form part of the Davyhurst Gold Project and together are the centrepiece of the Company’s DRIVE TO 150 Project with an outlook annual production of 140,000oz to 160,000oz in FY26.

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ORA BANDA MINING DAVYHURST GOLD PROJECT UPDATE

Ora Banda Mining Limited (ASX:OBM) (“Ora Banda”, “Company”) is pleased to provide an update on its Riverina and Sand King underground mines which form part of the Davyhurst Gold Project and together are the centrepiece of the Company’s DRIVE TO 150 Project with an outlook annual production of 140,000oz to 160,000oz in FY26.

Portal established and mining commenced Jumbo boring at the face Underground survey markup OBM Leadership Team after 1st firing

At Riverina, mining has been progressing steadily and remains on schedule with stoping and face advancement rates in line with expectations.

Excellent Drill Intercepts Highlight Riverina’s High-Grade and Consistency
Sand King Portal Established and Mining Underway Riverina Underground Mine
• Latest infill drilling results from Riverina underground confirm the consistency and highgrade nature of the Riverina ore lodes
• Results from 122 holes intersected significant gold intercepts above 10 gram metres on 102 occasions and included 45 intercepts over 20 gram metres
• A second underground diamond rig is scheduled to start mid-September to accelerate
resource extension and exploration drilling
• Two surface exploration rigs are scheduled to start early in the December-Quarter to
explore for southern extensions and depth extensions (Figure 5)
• Mining at Riverina remains on track with development and stoping performance in line
with expectations (See Figures 2 to 4)
• Significant intercepts from grade control infill drilling continue to demonstrate the highgrade and consistent nature of the Riverina main lodes, including:
o 2.7m @ 65.9g/t Inc. 2.1m @ 85.6g/t o 5.4m @ 6.4 g/t
o 4.4m @ 22.1 g/t Inc. 2.8m @ 33.6 g/t o 1.5m @ 23.2 g/t

The mine also continues to be the focus of increased exploration as Ora Banda seeks to test mineralisation extensions to the south-west and north-east.

Latest infill drilling up to July 2024 has provided excellent results and confirm the consistency and high-grade nature of the Riverina ore lodes. The results from 122 holes intersected significant gold intercepts above 10 gram metres on 102 occasions and included 45 intercepts over 20 gram metres.

A second underground diamond rig is scheduled to start mid-September to accelerate resource extension and exploration drilling plus two surface exploration rigs are
scheduled to start early in the December-24 Quarter to explore for southern extensions and depth extensions.

Mining operations have commenced at the Sand King underground mine with the portal
established and mine development underway. The decline is advancing well in good ground conditions and recruitment of specialty management and technical staff is well on track.

At Sand King, first development ore is expected in the December-24 quarter and first stoping ore in the March-25 Quarter with steady state of 60k ozpa commencing in the June-25 Quarter.

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Ora Banda’s Managing Director, Luke Creagh, said:

“As mining and drilling progresses at Riverina, our confidence is growing that we are only at the very early stages in unlocking what is presenting as a large and high-grade system.

 

“The addition of a second underground diamond rig as well as two surface drill rigs in the coming months is an exciting catalyst for the next wave of drill results as we target material extensions to the current Riverina system.

 

“Commencing Sand King is also an exciting time for the Company, demonstrating commitment to our strategy and placing us on the path to deliver 140,000 to 160,000oz in FY26.”

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To read the full news release, please click HERE

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Monthly Review May 2024

Has been published by City Investors Circle.

The highlighted company is Ora Banda Mining, and featured companies include Aris Mining and Karora Resources, plus a potential takeover target in Australia.

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G Mining’s TZ project vista, Tapajos, Brazil.

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City Investors Circle Monthly Review May 2024

The highlighted company is Ora Banda Mining, in production in Western Australia, looking ot increase gold production  from 70,000 Oz PA to 100,000 Oz PA in 2025.

Ora banda has a 110 KM trend with a “string of pearls” of targets, and are looking to pivot to underground mining for higher grades and lower costs.

AISC is around A$2,400, and the gold price in Australia is currently A$3,550, so plenty of cashflow to expand exploration and develop their other projects..

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Other featured companies include Aris Mining and Karora Resources, plus a potential takeover target rumour from Australia..

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Precious and industrial metal prices in May were virtually all positive, and we list the gainers and very few losers monthly changes..

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All the company news from May 2024 is listed below, please click on the link to be taken to the full story on the website.chives

To subscribe to receive our complimentary monthly newsletter and invitations

to our free to attend events,

please email andrew@city-investors-circle.com