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Ora Banda Mining ( (AU:OBM) ) has shared an update.
Ora Banda Mining has announced a significant increase in its mineral resources and ore reserves, with a total mineral resource estimate of 26.8 million tonnes at 2.4 g/t for 2.11 million ounces, marking an increase of 160,000 ounces after mining activities. The company’s ore reserves have also grown by 24% to 3.0 million tonnes at 2.4 g/t for 236,000 ounces. This growth is attributed to the continuity and quality of the Riverina and Sand King underground mines, which remain open for further exploration. The announcement highlights the company’s strategic focus on expanding its resources and reserves through extensive drilling programs, with plans to update estimates based on recent drilling results in the upcoming fiscal year.
The most recent analyst rating on (AU:OBM) stock is a Buy with a A$0.85 price target. To see the full list of analyst forecasts on Ora Banda Mining stock, see the AU:OBM Stock Forecast page.
More about Ora Banda Mining
Ora Banda Mining is a company operating in the mining industry, primarily focused on the exploration and development of gold resources. The company is engaged in mining activities with a market focus on increasing its mineral resources and ore reserves, particularly in its underground mines such as Riverina and Sand King.
Average Trading Volume: 11,164,069
Technical Sentiment Signal: Buy
Current Market Cap: A$2.02B
See more insights into OBM stock on TipRanks’ Stock Analysis page.