Ora Banda Mining (OBM) Euroz Hartleys Conference Presentation summary

Strategy and operational highlights

• Targeting sustainable gold production growth, aiming for 150koz in FY26 and beyond, underpinned by the 'DRIVE to 150' strategy focused on fundamentals, organic growth, and performance optimisation.

• Riverina Underground mine fully ramped up, delivering record revenues and cash flows, with capital payback achieved in 18 months and strong production metrics exceeding reserve grades.

• Sand King Underground mine ramping up on schedule, with steady-state production expected in Q4 FY25 and potential for further resource growth from ongoing drilling.

• FY25 guidance: 105koz gold at AISC A$2,767/oz; FY26 outlook: 150koz at AISC A$1,840/oz, reflecting improved cost structure and higher-grade ore sources.

• Over A$41M allocated to exploration and resource development in FY25, with a focus on extending mine life and discovering new deposits.

Financial position and capital management

• Market capitalisation of A$1.84B, cash of A$57.8M, and minimal debt of A$4M as of December 2024.

• Secured a $50M revolving credit facility with ANZ and CBA, boosting total liquidity to over $100M.

• Implemented 100koz of gold put options for FY26 at A$4,400/oz, providing downside protection while retaining upside exposure.

• No mandatory hedging required under the new facility, supporting flexibility in gold price exposure.

Resource base and exploration

• Davyhurst Gold Project holds 1,950koz in Mineral Resources (23.3Mt at 2.6g/t Au) and 190koz in Ore Reserves (2.2Mt at 2.7g/t Au).

• Riverina and Sand King underground mines are the primary contributors to high-grade ore supply, with both deposits open for further resource expansion.

• Systematic exploration at Riverina Gold Camp and Little Gem has delivered high-grade intercepts, supporting immediate follow-up drilling and potential mine life extensions.

• Mulline and Waihi trends identified as underexplored, high-potential areas for future underground development.