Ora Banda Mining (ASX:OBM) is "executing well," and is on track to produce over 150,000 ounces annually from its Sand King underground mine near its Davyhurst processing plant, in Western Australia, by 2026 and beyond, according to a Feb. 28 note by Euroz Hartleys.
The company said Friday, its first batch of development ore at the mine processed through the plant showed reconciled grades and recoveries above expectations.
Ora Banda added that grade control drilling at the deposit confirmed multiple mineralized lodes per level, and "blow-out" zones, suggesting higher gold endowment and improved pay-runs.
This "bodes well" for a low-cost development with multiple mining fronts, Euroz said, adding that good ground conditions and increasing mining rates are leading to higher-than-expected grades.
Euroz believes that "strong" gold prices, currently above AU$4,600 per ounce, continue to support the company's unhedged gold production.
The firm maintained OBM's buy rating and its price target of AU$1.20.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。