Ora Banda Mining (OBM) Q4 2026 TU earnings summary

Executive summary

• Achieved record quarterly gold production of 39,552 oz, meeting FY26 guidance with full-year output of 140,949 oz despite weather disruptions.

• Launched 'DRIVE to 300' strategy, targeting a doubling of production by FY29 and significant cost reductions.

• Strong cash flow generation of $36 million for the quarter, closing cash at $267.7 million and total liquidity of $468 million.

• Substantial increases in Mineral Resources (up 75% to 3.69 Moz) and Ore Reserves (up 159% to 610 Koz).

• Appointment of John Richards as Non-Executive Chair-elect.

Financial highlights

• FY26 revenue from gold sales reached $867.2 million, with an average realised gold price of $6,166/oz.

• All-in sustaining cost (AISC) for FY26 was $3,496/oz, 4% above guidance, with Q4 AISC at $3,870/oz due to higher third-party processing and diesel costs.

• Operating cash flows for the quarter were $121 million, funding $76.6 million in growth investments.

• Net cash flow for FY26 totaled $183.5 million.

Outlook and guidance

• FY27 production guidance set at 125,000–140,000 oz at an AISC of $3,400–$3,600/oz.

• FY27 capital expenditure guidance of $425 million, including $240 million for a new 3 Mtpa processing facility and $75 million for exploration.

• Production expected to be weighted to 1H FY27, with third-party processing through October 2026.

• Commissioning of the new processing plant scheduled for 2H FY28.