Round Dam open-pit resources more than tripled to 1.33 million ounces, a standout in the update, supported by higher-grade material from Waihi’s Golden Pole zone.

The company calls the update a step-change, noting the substantial resource and reserve gains in under a year and reinforcing Ora Banda’s Davyhurst production platform.

Management expects the bigger resource base and expanded processing capacity to translate into a longer-lasting, higher-output operation.

All-in sustaining costs for the quarter were A$3,870 per ounce, pressured by third-party processing costs, diesel, and wet weather, with full-year AISC guidance at A$3,496 per ounce.

Ora Banda Mining expanded its geological inventory with a 75% increase in group mineral resources to 3.69 million ounces and a 159% rise in ore reserves to 610,000 ounces across five main sources, including Waihi underground, Waihi open pit, Round Dam open pit, Sand King underground, and Riverina underground (plus Little Gem).

A $233 million contract was awarded for a new 3-million-tonne-per-year processing plant at Davyhurst, underpinning a larger capital program to support growth into FY29.

For the quarter, cash flow reached $36 million, with cash at bank of $268 million and total available liquidity of $468 million, including an undrawn $200 million revolving facility.

With strong cash flow, a solid balance sheet, and a growing resource base, Ora Banda is positioning itself to become Western Australia’s next gold major, moving from strategy to execution toward a 300 koz/year ambition.

The company delivered a record quarterly production of 39,552 ounces at Davyhurst for the June quarter, aligning with the full-year guidance of 141,000 ounces for FY2026.

FY26 drilling expenditure neared A$75 million across more than 310,000 metres, with another 340,000 metres planned for FY27 targeting Round Dam, Little Gem, and Sand King, and a maiden Little Gem resource due in H1 FY27.

The DRIVE to 300 strategy targets doubling output to 300,000 ounces per year by FY2029, supported by the construction of the standalone 3 Mtpa Davyhurst processing plant, with commissioning planned in H2 FY2029, and construction already underway.},{