Pinned straw:
Hi @skaex I do not follow Ora Banda (OBM) - because I didn't like their management back when they were called Eastern Goldfields and the management at the time tried to get out of paying GR Engineering (GNG) who I held at the time (& still do) for refurbishing the Daveyhurst mill for them - Daveyhurst has had a colourful history - see here. I know that they have new management and it's all about their Sand King & Riverina deposits now apparently. They have high costs and huge worker turnover - or they did two years ago - here are their "highlights" from their FY24 results presso last month:
Key operational achievements:
- Record ounces produced at 69.9koz, 46% higher than the previous financial year (see note 1)
- AISC/oz reduced by 10% to A$2,767/oz (see note 1)
- 4 consecutive quarters of production growth from Davyhurst plant (see notes 1 & 2)
- Underground Resource growth at Sand King and Riverina (see note 3)
- Underground Reserve growth including maiden reserve at Sand King (see note 3)
- Stockpiles at end of year included high grade Riverina ore at ~25kt at 3.7g/t for 2.9koz as well as the remaining open pit medium grade of 182.7kt at 1.4g/t for 8.3koz (11.2koz total) (see note 1)
- Exploration program discovered 2nd underground mine at Sand King (see note 4)
- Stabilised workforce – reduction in turnover from 72% rolling 12 months average to 32%
Notes:
- See ASX announcement dated 23 July 2024
- September 23 Qtr there was an additional 2,575oz produced from toll-treat campaign
- See ASX announcement dated 2 July 2024
- See ASX announcement dated 11 July 2024
--- end of excerpt ---
Must be a real sh!t mob to work for to have had 72% turnover and to be crowing about getting that down to 32%. Costs have been too high clearly, but they apparently have higher grade ore at Riverina, including around 25 thousand tonnes of ore grading 3.7g/t Au stockpiled, although the remaining open pit ore is lower grade than that.
High cost, low volume producer, can't see the appeal. Maybe people regard them as a logical M&A play. Dunno. Not interested in owning any myself.
https://orabandamining.com.au/
Daveyhurst Mill (above and below)
Duratec were also involved in the Daveryhurst refurb back in 2017, not sure how much trouble they had getting paid.
Source: https://www.duratec.com.au/projects/davyhurst-gold-mine-refurbishment/
Below: Central Daveyhurst OP:
Ora Banda mined 225,998 tonnes of ore at 2.02g/t gold from its Missouri open pit during the December quarter.
Source: https://thewest.com.au/business/bulls-n-bears/ora-banda-sets-record-gold-production-figures-at-davyhurst-c-13267481 [18-Jan-2024]
Good for mud-wrestling:
That's all I got...