Australia's Ora Banda Mining falls on lower production guidance

Ora Banda Mining

28/06/2023 03:15

** Shares of Ora Banda Mining Ltd  OBM.AX  fall as much as
11.5% to A$0.115 - set for their worst day since May 8, if
losses hold 
    ** Gold explorer lowers its production guidance to about
12,000 ounces for June-quarter vs a previous guidance of 14,000
ounces 
    ** Says equipment failure and low equipment availability in
late June impacted the quarter's performance by about 14%
    ** Sees total ounces produced for FY23 to be about 48 kilo
ounce (koz)
    ** Says crushing circuit equipment is expected to be
operational by 1 July 
    ** Shares up 54.8% YTD, as of last close 
   

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))