Ora Banda Mining (ASX:OBM) crosses milestones to become a gold producer

by Scarlett S. Stock Market Analyst

Ora Banda Mining Limited (ASX: OBM) formerly known as Eastern Goldfields Limited (ASX: EGS) was admitted to ASX in October 2002.

Ora Banda Mining Limited (ASX:OBM) Share Price, Stock News, OBM Share Price & News | Kalkine Media

It is a gold-focused exploration company, and it’s historical financial and mining issues led to the suspension of production, which had been followed by the appointment of Voluntary Administrators in November 2018. The mining company had been recapitalised, and it currently trades under the ticker OBM on Australian Stock Exchange.

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How Ora Banda Mining (ASX:OBM) crosses milestones to become a gold producer

Ora Banda Mining Limited has turned the corner around a challenging period to evolve into a gold developer.

OBM has been continuing operations at the Riverina deposit and has received strong results that reinforce the deposit's potential.

The Company has also inked a deal with CBA for hedging and working capital purposes.

Ora Banda Mining Limited (ASX:OBM) is the Company that transformed from being a developer to a producer with its consistent efforts and initial gold pour in early February 2021. This marks a significant milestone for OBM as the Company has navigated through uniquely challenging circumstances of the past as well as the current year.

OBM has had an eventful 2021 with overall progress, including the first gold pour in February, additional robust infill drilling results from Riverina South, securing hedging and working capital facilities from Commonwealth Bank Of Australia (ASX:CBA) and appointment of CEO.

INTERESTING READ: Ora Banda Mining (ASX:OBM) emerges as the latest Australian gold producer