Perth, Australia-based Ora Banda Mining Limited (ASX: OBM) is a gold exploration company currently undertaking a series of resource drill out, detailed mine planning and regional high-impact exploration programs to maximally leverage significant value from its expansive land package spanning 200-km strike on the greenstone belt Western Australia’s Eastern Goldfields. The region is known as a Tier 1 gold mining jurisdiction worldwide.
The company has six projects (wholly owned) within its tenure, and these are - Davyhurst, Mt Ida, Riverina, Mulline, Siberia, and Lady Ida Projects, including 112 tenements (1,336 km2), with known high-grade mineralisation of nickel sulphide, gold, and base metal mineralisation. The initial advance targets of the exploration program are Riverina, Waihi, Callion, Siberia and Golden Eagle, with a JORC 2004 compliant Resource of 9.2 Mt @ 2.8 g/t for 840 koz alongside the Davyhurst Processing Hub (@ 1.2Mtpa). More on these five prospects can be READ here.
Following its $ 30-million recapitalisation process, Ora Banda got relisted on the Australian Securities Exchange (ASX) on 28 June 2019 and embarked on a new journey to eventually transit into a developer.
Strong News flow & Multiple Catalysts (Source: Corporate Presentation)
The company is backed by a stellar leadership team with extensive experience in the mining industry across geology, operations, project funding and legal affairs.
BOARD OF DIRECTORS
On the Board of Ora Banda are Mr Peter Mansell, Mr Keith Jones, Mr Mark Wheatley, and Mr David Quinlivan.
- Mr Peter Mansell, Non-Executive Chairman
Mr Mansell joined the company with an extensive experience in the mining, corporate and energy sectors, having worked as an advisor as well as an independent Non-Executive Chairman and Director for many listed and unlisted companies.
He practised corporate and resources law in South Africa and Australia for some time and opted for retirement from legal practice in 2004. Thereafter, Mr Mansell served as Director at various companies like Foodland Associated Ltd, OZ Minerals Ltd, BWP Management Ltd; and Chairman at WA Newspaper Holdings Ltd, Electricity Networks Corporation (trading as Western Power) and Zinifex Ltd. Besides, He also chaired the Advisory Board of Pacific Aluminium Ltd.
In addition to Ora Banda, Mr Mansell is currently serving as a Non-Executive Director at Energy Resources of Australia Ltd and Foodbank of Australia Ltd.
- Keith Jones, Non-Executive Director
A chartered accountant by Profession with over 38 years of industry experience, Mr Jones led the Western Australian practice of Deloitte for around 15 years, the Energy and Resources Group, and also as the Chairman of Deloitte Australia. In addition to Ora Banda, Mr Jones is also presently serving as the Chairman of Cannings Purple and was the former Chairman of Gindalbie Resources Limited
- Mark Wheatley, Non-Executive Director
Mr Wheatley is a chemical engineer by profession and joined the Board of Ora Banda with prior experience of 30 years in mining and related industries. He has held the position of Chairman at Norton Gold Fields Ltd and Gold One International Ltd, and served as the Director at Riversdale Resources Limited, Uranium One Inc, Uranium Resources Inc, and St Barbara Ltd.
In addition, Mr Wheatley also performed executive roles at Aurion Gold Limited, Bankers Trust Australia, BHP Ltd, Goldfields Limited, Chairman and CEO of Southern Cross Resources Inc., MD of BMA Gold Ltd and Executive Chairman of Xanadu Mines Limited.
Currently, he is working with Peninsula Energy Ltd as the Non-Executive Director, in addition to his on-going tenure with Ora Banda.
- David Quinlivan, Managing Director
A mining engineer by profession, Mr Quinlivan holds an extensive 11 years’ experience in executive leadership at WMC Resources Limited, followed by various high-profile positions within the mining industry. Since 1989, he has held several other positions like the principal of the mining consulting services firm, Borden Mining Services, where he worked on various mining projects, contributing in different capacities.
In addition to the above, Mr Quinlivan also held the role of Chairman at Churchill Mining PLC, Chief Operating Officer at Mount Gibson Iron Ltd, President, Chief Executive Officer at Sons of Gwalia Ltd, and Chief Executive Officer at Alacer Gold Corporation. Presently, in addition to being on the Board of Ora Banda, Mr Quinlivan is also serving as the Non-Executive Chairman at Silver Lake Resources Limited.
- Tony Brazier, Chief Financial Officer
Mr Brazier is a chartered accountant and senior finance professional with a long experience of around 25 years across a range of industries such as Resources (metals & mining and oil & gas), infrastructure as well as manufacturing.
His previous work areas include project modelling and financing, process optimisation, financial reporting and analysis, corporate governance and risk management.
- Andrew Czerw, General Manager, Resource Development
A highly accomplished geoscience professional, Mr Czerw holds more than 25 years of significant experience in senior management roles across companies located in Australia as well as overseas. Prior to joining Ora Banda, his work areas in the mining industry include exploration, development, surface mining as well as he also acquired underground operational experience with a strong inclination towards team building.
His previous engagements include being the Chief Geologist for Emperor Gold Mining Company Ltd, General Manager at Tanami Gold NL and Director of Operations at Tectonic Resources Ltd.
Journey since Relisting – Overview
On 8 July 2019, Ora Banda Mining initiated a resource definition infill drilling program at Riverina, a 5-hole RC drill program at Mt Ida deposit and a 2-hole RC drill program at the Queen of Hearts deposit. The samples were forwarded for assay at the laboratories.
In addition, a large number of samples from older drilling activities were also submitted as they were left un-assayed due to funding constraints at that time. Subsequently, on 29 July 2019, the company released the first encouraging assay results of the prior drilling activities.
Further, on 26 August 2019, the first outstanding high-grade results from the 2019 Riverina Phase 1 RC resource definition drilling program were disclosed.
Currently, Ora Banda is well funded to rapidly advance its ongoing high-grade gold resource & reserve definition and exploration programmes within the Eastern Goldfields and recently raised AUD 18.5 million via placement of 100 million new shares at AUD 0.185 each. This would largely facilitate the completion of Definitive Feasibility Study for the broader Project area, now estimated three months earlier, at 30 June 2020 before Ora Banda finally undertakes production.
Ora Banda’s market capitalisation stands at around AUD 103.36 million with ~ 543.98 million shares outstanding. On 9 September 2019, the OBM stock closed the day’s trade at AUD 0.200, climbing up 5.26% by AUD 0.010, with ~ 963,334 shares traded. Besides, OBM has delivered a positive return of 18.75% YTD.
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