Ora Banda Mining (OBM) Q2 2026 TU earnings summary

Executive summary

• Achieved record gold production of 32,036oz for the quarter, up 5% from the previous quarter, and 39% higher half-on-half, with YTD FY26 production at 62,631oz and sales at 62,583oz.

• Cash increased by $32.8 million to $155.4 million after significant capital, resource development, and exploration investments.

• Strong exploration results at Waihi, Little Gem/Riverina, and Sand King support future mining developments.

Financial highlights

• Revenue from gold and silver sales reached $189.0 million for the quarter, with an average realised gold price of $6,049/oz.

• All-in sustaining cost (AISC) for the quarter was $3,505/oz, a 22% increase from the prior quarter, mainly due to higher third-party processing costs and lower grades at Sand King.

• Operating cash flows and a robust cash position were maintained despite $57.9 million spent on capital, resource development, and exploration.

Outlook and guidance

• FY26 production guidance remains at 140-155koz, expected toward the lower end of the range.

• FY26 AISC guidance revised upward to $3,250–$3,350/oz (from $2,800–$2,900/oz) due to increased third-party processing and higher gold prices.

• Growth capital guidance for FY26 increased to $143 million (from $86 million), reflecting expanded project investments.