https://www.miningweekly.com
Exploration|Gold|Mining|Resources|Roads|Underground
Exploration|Gold|Mining|Resources|Roads|Underground
exploration|gold|mining|resources|roads|underground

Ora Banda strikes sales deal in WA

16th March 2023

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Junior Ora Banda Mining has struck a A$10-million agreement to divest of certain noncore Lady Ida tenements, in Western Australia.

The company told shareholders that following the completion of the transaction, the purchasers would be granted rights to explore for and mine gold and silver over the tenement areas.

“The sale of these tenements for A$10-million is a great outcome for Ora Banda Mining shareholders as they do not align with Ora Banda Mining’s strategy to target high-grade underground deposits, nor is it included in our production target of 100 000 oz/y supported by reserves,” said MD Luke Creagh.

“In addition, the Lady Ida tenements are approximately 65 km from the Davyhurst plant with significant capital requirements to establish haul roads and access for Ora Banda Mining, and the deposit is lower grade than other resources on the OBM tenements. “The $10-million sale proceeds will strengthen Ora Band’s balance sheet as we progress the Riverina underground toward final investment decision and continue exploration on other advanced high-grade targets.”

Edited by Creamer Media Reporter

Comments

 

Showroom

John Thompson
John Thompson

John Thompson, the leader in energy and environmental solutions through value engineering and innovation, provides the following: design, engineer,...

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 03 May 2024
Magazine round up | 03 May 2024
3rd May 2024
Resources Watch
Resources Watch
2nd May 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.104 0.142s - 89pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: