Ora Banda Mining’s revenue, earnings, cash flow, and profit all substantially rise in latest half-year

Ora Banda Mining is the latest Goldfields-focused gold miner to reveal bonanza returns in the latest half-year, on Friday reporting healthy increases in revenue, earnings, cash flow, and profit. Ora Banda told the market it had revenue of $336.3 million in the six months to December 31, up 80 per cent on the same period a year earlier. The company said earnings before interest, tax, depreciation, and amortisation rose 106 per cent to $173.3m, while net profit after tax was $96.3m, up 89 per cent on the prior corresponding period. Cash flow from operations was also up, by 102 per cent, to $184m — with gold sold at a $1754/oz higher realised average price during the half-year — which Ora Banda said would continue to be reinvested in growth projects. The company said growth capital expenditure during the six months to December 31 totalled $107.3m, with $47.6m spent on Riverina and Sand King underground development, $36.5m on resource development and exploration activities, and $23.2m on growth and sustaining infrastructure. It said it produced 62,631 ounces of gold during the half-year, a 32 per cent increase on the prior corresponding period, as the company’s second underground mine, Sand King, ramped up. Ora Banda’s managing director Luke Creagh said Sand King had achieved capital payback within 12 months of portal establishment. “This follows Riverina underground, which in FY25 achieved payback in 18 months,” he said. “These outcomes contributed to the generation of more than $71 million in free cash flows, with a closing cash position of $155.4 million. “With uncommitted put options, the group still has full exposure to the rising gold price environment, driving a 106 per cent increase in EBITDA to $173 million. “With put options ensuring a floor price of $6000/oz price for the remainder of FY26 and majority of FY27, the group has a very robust balance sheet. “Liquidity in excess of $200 million, including an undrawn $50 million revolving credit facility, allows the group to continue unlocking the potential of its highly prospective belt, as evidenced by the numerous high-grade intercepts disclosed over the first half of FY26. “The group’s strong financial position and expected free cash flow generation in H2 allows for continued investment to advance key growth projects, including recommencement of open pit mining at Waihi, further accommodation upgrades and progressing studies on a new 3mtpa mill.”