Ora Banda Mining Ltd reported record revenues of $807.5 million for the 2026 financial year, doubling the $404.3 million generated in FY25.

The financial performance was underpinned by a 51% increase in gold sold to a record 140,641 ounces, up from 93,076 ounces in the previous period. Operating cash flow rose 124% to $426.7 million, allowing Ora Banda to increase its closing cash balance by $183.5 million to $267.7 million as of 30 June 2026.

Earnings before interest, tax, depreciation and amortisation increased by 134% to $431.1 million. Net profit after tax rose 16% to $216.2 million, which includes a $97.7 million non-cash tax expense offset against the company's deferred tax asset. All-in sustaining costs for the period reached $3,496 per ounce sold, compared to $2,693 per ounce in FY25.

The operational growth was driven by the ramp-up of the company's second underground operation at Davyhurst, with the Sand King Underground mine achieving commercial production in January 2026. Sand King reached capital payback within 12 months of establishing its portal.

“FY26 marked a step-change for Ora Banda, with the successful transition to a two-mine underground operating model driving record production, cash generation and profitability across the Group. Sand King's rapid payback, achieved within 12 months of portal establishment and consistent with Riverina Underground's payback in FY25, confirms the strength and repeatability of our underground mining model and gives us confidence as we build on this platform heading into FY27.”

— Luke Creagh, Managing Director

Managing Director Luke Creagh noted that the company enters FY27 with an expanded resource and reserve base—including a 75% increase in Mineral Resources and a 159% increase in Ore Reserves—and more than $468 million in available liquidity, supported by an upsized $200 million revolving credit facility.

Read the full announcement: FY26 Results