Australia's Ora Banda Mining surges on upbeat production outlook

Ora Banda Mining

11/07/2024 03:50

** Shares of gold explorer Ora Banda Mining  OBM.AX  rise as
much as 15.49% to A$0.410, their highest since Aug. 29, 2016
    ** Stock posts its biggest intraday pct gain since Nov. 29
    ** Co says it expects to produce 150koz in FY26 and reduce
its all-in sustaining cost (AISC) to below A$1,890/oz
    ** Forecasts production of 100koz–110koz with an AISC of
A$1,975/oz–A$2,125/oz for FY25
    ** Adds Sand King Underground's final investment decision
approved by board, to be the second underground mine at the
Davyhurst Gold Project in Western Australia
    ** About 7.7 mln shares change hands, compared with the
30-day average volume of 1.7 mln
    ** Stock has risen 47.9% this year, as of last close

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))