| Announcement Date: | 2022-08-01 |
|---|---|
| Announcement Type: | Deposit Estimation |
| Announcement Code: | JORC |
| Company name: | Ora Banda Mining Ltd. |
| Project name: | Davyhurst |
| Location: | Australia |
| Commodities: | Gold |
| Highlight: | Updated Resources and Reserves for Project |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Ora Banda Mining Limited (ASX:OBM) (“Ora Banda”, “Company”) is pleased to announce updated estimates for its Mineral Resources and Ore Reserves as at June 30 2022, outlined in the following tables. Total Mineral Resource Estimate The Ore Reserve inventories form a robust foundation to build a profitable growth strategy for the company. The reserves were estimated at a gold price of $A 1,850/oz which provides excellent cashflow opportunities compared to previous calculations done at a gold price of $2,200/oz. Cost increases have been taken into account for the Ore Reserve conversion which reflect changes in the prevailing market conditions for the Western Australian mining industry. Mineral Resource updates and mining depletions are factored in alongside operational efficiencies to form a robust business case on which to build a strong future for Ora Banda. The Mineral Resource of 2.0Moz also provides extensive future organic growth opportunities for the Company. Ora Banda Mining’s Chief Executive Officer, Luke Creagh, commented |
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