Ora Banda Mining Shares Fall After Replacing Paddington Mill Processing Agreement

MT Newswires Live

Mar 16

Ora Banda Mining (ASX:OBM) shares fell 1% after it said it has replaced a non-binding memorandum of understanding with a full-form binding ore sales agreement (OSA) with Paddington Gold, enabling the processing of a further 120,000 dry metric tonnes of gold-bearing Davyhurst ore at the Paddington mill during March and April, according to a Friday Australian bourse filing.

The company said about 345,000 tonnes of Davyhurst ore were processed via the Paddington mill under the previous MOU during fiscal 2026, which had anticipated up to 400,000 tonnes of ore being processed during the year.

Following the expiry of the OSA, Ora Banda intends to build excess ore stockpiles for future processing through its wholly owned infrastructure, which is expected to deliver material cost and recovery benefits, the filing added.

The company said its fiscal year 2026 production and all-in sustaining cost guidance remains unchanged, while studies relating to the construction of a standalone three million tonne per year processing facility continue, with further updates anticipated during the June quarter.

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