Ora Banda strikes sales deal in WA
PERTH (miningweekly.com) – Junior Ora Banda Mining has struck a A$10-million agreement to divest of certain noncore Lady Ida tenements, in Western Australia.
The company told shareholders that following the completion of the transaction, the purchasers would be granted rights to explore for and mine gold and silver over the tenement areas.
“The sale of these tenements for A$10-million is a great outcome for Ora Banda Mining shareholders as they do not align with Ora Banda Mining’s strategy to target high-grade underground deposits, nor is it included in our production target of 100 000 oz/y supported by reserves,” said MD Luke Creagh.
“In addition, the Lady Ida tenements are approximately 65 km from the Davyhurst plant with significant capital requirements to establish haul roads and access for Ora Banda Mining, and the deposit is lower grade than other resources on the OBM tenements. “The $10-million sale proceeds will strengthen Ora Band’s balance sheet as we progress the Riverina underground toward final investment decision and continue exploration on other advanced high-grade targets.”
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation