Top ASX Penny Stocks under $1 Recommended in 2025
Ora Banda Mining Limited (ASX: OBM)
Ora Banda Mining Limited (ASX: OBM) reported a solid performance for the December 2024 quarter, showcasing strong cash flow growth and significant progress in its underground mining operations. The company’s cash position increased by A$9.1 million, reaching A$57.8 million, despite investing A$30.8 million into growth projects and exploration. The Riverina Underground operation achieved payback within 18 months, ahead of expectations, and is now generating positive cash flow. This mine continues to perform above expectations, with the mined grade of 5.3g/t exceeding the Ore Reserve grade of 4.2g/t. Ora Banda sold 22,288oz of gold during the quarter, bringing the total sold in the first half of FY25 to 47,824oz, and produced 22,973oz of gold. The Sand King Underground project is progressing as planned, with first development ore mined in December 2024, and stoping ore expected in March 2025. The Davyhurst mill processed 280kt of ore at a head grade of 2.9g/t, with Riverina and low-grade stockpiles comprising a substantial portion of the feed, but higher-grade material from Sand King is expected to boost mill feed in the second half of FY25 and FY26.
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