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Highlights
Canaccord Genuity has reaffirmed a Buy rating on Ora Banda Mining.
The firm has set a target price of AUD 1.20, indicating a potential 21.83% upside from the current share price of AUD 0.98.
Ora Banda’s continued progress in expanding its resource and reserve base alongside drilling results.
Ora Banda Mining Limited (ASX: OBM), a gold exploration and development company, has received a Buy rating from Canaccord Genuity. The analyst, Tim McCormack, has set a price target of AUD 1.20. With shares currently trading at AUD 0.98, the target represents a potential 21.83% gain for investors.
Current Market Performance
As of 16 September 2025, Ora Banda Mining’s stock closed at AUD 0.98, down 0.51% on the day, with a trading volume of more than 2 million shares.
Recent Resource and Reserve Growth
On September 12, Ora Banda announced its Annual Mineral Resource and Ore Reserve Statement, reporting a total Mineral Resource of 26.8 Mt at 2.4 g/t for 2.11 Moz, an increase of 160 koz after accounting for 108 koz mined since June 2024.
Key updates included:
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Riverina Underground Resource: up 25% to 7.0 Mt at 2.6 g/t for 586 koz.
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Sand King Underground Resource: up 14% to 3.9 Mt at 2.8 g/t for 348 koz.
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Ore Reserves: up 24% to 3.0 Mt at 2.4 g/t for 236 koz, including a 54% increase in Sand King Underground Ore Reserves.
Exploration Results
In addition to resource growth, Ora Banda has reported notable drilling success across key deposits:
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At Sand King Underground, step-out drilling 300 metres north of the mine plan delivered high-grade gold intercepts including 18.7m at 8.9 g/t and 14.3m at 5.3 g/t, significantly expanding the mineralisation footprint.
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At Waihi, early drilling results returned 13.5m at 6.1 g/t and 8.0m at 8.7 g/t, building momentum for what could become the company’s third underground mine.
With increased resource and reserve base, coupled with consistent drilling success, Ora Banda Mining enters FY26 with a significant momentum. Canaccord Genuity gives Buy rating to OBM and AUD 1.20 target price.
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