Ora Banda Mining (OBM) Q1 2026 TU earnings summary

Executive summary

• Achieved record gold production and cash flows, driven by higher gold prices, increased output from Sand King, and processing improvements.

• Cash position increased by $38.5M to $122.7M, despite $49.5M invested in capital, resource development, and exploration.

• Safety performance remained strong with LTIFR at 0.7, well below industry average.

Financial highlights

• Gold produced for the quarter totaled 30,595oz, up 39% from the prior quarter.

• Record gold sold: 27,772oz from Davyhurst, up 37% quarter-on-quarter; total equivalent gold sold (including third-party milling) was 31,336oz.

• All-in sustaining cost (AISC) per ounce sold was A$2,872, a 20% reduction from the previous quarter.

• Revenue from gold and silver sales reached A$168.9M, with an average realized gold price of A$5,390/oz.

Outlook and guidance

• Sand King Underground production ramp-up expected to continue, supporting further increases in gold output throughout FY26.

• Ongoing studies for a new 3.0Mtpa processing plant.

• Continued focus on organic growth and mine life extension through exploration at Waihi, Little Gem, and Round Dam.