Ora Banda trims '25 production guidance
ASX-listed Ora Banda Mining trimmed its gold production guidance for the 2025 financial year and flagged higher costs as extended mill downtime and slower-than-expected commissioning impacted output at its Davyhurst operations in Western Australia.
The company now expects to produce about 95 000 oz of gold in 2025, 5% below the lower end of its earlier guidance of 100 000 oz. All-in sustaining costs (AISC) are forecast to rise to about A$2 600/oz, up 4% from the previously guided upper limit of A$2 500/oz.
The revision follows unplanned downtime at the Davyhurst processing plant during April and May, owing to lifter and lining upgrades to the primary mill. Commissioning of the upgraded plant also took longer than expected, delaying ramp-up to the targeted daily throughput of 3 700 t/d to 4 000 t/d.
Despite the setbacks, Ora Banda said plant commissioning was now complete, with throughput reaching the required levels in June. Production for the June quarter is expected to total about 24 500 oz, including a forecast of up to 12 500 oz for the month, in line with monthly output targets needed to reach the 150 000 oz/y run-rate.
Mining performance remains strong, the company noted. June mining forecasts include 8 500 oz from the Riverina deposit and 6 000 oz from Sand King, as the latter ramps up to steady-state production. In addition, ore stockpiles built up during the plant downtime have reached 83 000 t at 2.8 g/t (7 500 oz of medium-grade ore) and 114 000 t at 1.2 g/t (4 400 oz of low-grade ore) at end-May.
While the 2025 forecast is a reduction from prior guidance, Ora Banda pointed out that the expected output would still represent a 35% increase over the 2024 financial year’s 70 000 oz of production.
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