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Asia

Australian Shares Rally; Vault Minerals on Track to Deliver Fiscal Year 2026 Gold Production Guidance

Australian shares continued their rally on Monday after the US and Iran said they had reached a deal to reopen the critical Strait of Hormuz.The S&P/ASX 200 Index jumped 1.25%, or 110 points, to close at 8,914.US President Donald Trump said that the US and Iran would sign the agreement on Friday, and the Strait of Hormuz would open. Brent crude oil fell over 4% to around $83 per barrel.On the domestic front, capital city housing prices in Australia are forecast to fall 2.1% this year and 3.3% in 2027, ANZ Research said. The bank had previously forecast 2.8% growth in 2026 and 2.1% in 2027. It attributed the reduction in forecasts to a combination of global uncertainty, three consecutive cash rate hikes, and recent housing policy changes, which have led to a sharper-than-expected slowdown in the housing market.In company news, Vault Minerals (ASX:VAU) is on track to deliver fiscal year 2026 gold production guidance of 332,000 to 360,000 ounces after achieving production of 306,542 ounces in the fiscal year to date through May.Woodside Energy Group (ASX:WDS) confirmed in a bourse filing that it is not engaged in talks on a potential transaction with Exxon Mobil after media reports said it was among several potential acquisition targets being evaluated by the US energy giant.Ora Banda Mining (ASX:OBM) entered into a AU$233 million engineering, procurement, and construction contract with GR Engineering Services (ASX:GNG) to deliver a 3 million tonnes per annum processing plant at Ora Banda Mining's Davyhurst Mill Expansion Project in Western Australia.

ASX 200ASX:GNGASX:OBMASX:VAUASX:WDS
Asia

Ora Banda Mining Enters AU$233 Million EPC Contract With GR Engineering for Western Australia Project; Shares Up 9%

Ora Banda Mining (ASX:OBM) entered into a AU$233 million engineering, procurement, and construction (EPC) contract with GR Engineering Services (ASX:GNG) to deliver a 3 million tonnes per annum processing plant at Ora Banda Mining's Davyhurst Mill Expansion Project in Western Australia, according to a Monday Australian bourse filing.The project began with earthworks in late May and is now advancing into the construction and delivery phase of the expanded processing facility, the filing added.Ora Banda Mining's shares rose past 9% in recent Monday trade, while GR Engineering Services gained 2%.

ASX:GNGASX:OBM
Asia

ASX Biggest Gainers

Here are the ASX-listed companies with the biggest gains on Friday.Electro Optic Systems (ASX:EOS): +15%, AU$11Elsight (ASX:ELS): +13%, AU$7.184DMedical (ASX:4DX): +12%, AU$3.74Judocapitol FP (ASX:JDO): +11%, AU$1.54Flight Centre Travel Group (ASX:FLT): +8%, AU$10.96West African Resources (ASX:WAF): +8%, AU$3.19Lindian Resources (ASX:LIN): +8%, AU$0.83Ora Banda Mining (ASX:OBM): +7%, AU$1.36Vulcan Energy Resources (ASX:VUL): +7%, AU$3.89Westgold Resources (ASX:WGX): +6%, AU$5.18

ASX 200ASX:4DXASX:ELSASX:EOSASX:FLTASX:JDOASX:LINASX:OBMASX:VULASX:WAFASX:WGX
Asia

Ora Banda Mining's Plan to Double Production Bolsters Medium-Term Outlook, Says Euroz Hartleys

Ora Banda Mining's (ASX:OBM) plan to double its production profile over the next 3 years strengthens its medium-term outlook and operational leverage to gold prices, Euroz Hartleys said in a note on Monday.The gold producer's board has approved construction of a new 3.0 million tonnes per annum processing plant at Davyhurst for AU$375 million with commissioning aimed for the third quarter of fiscal 2028.Combined milling capacity is projected to rise to 4.2 million tonnes per annum by fiscal 2029. The new plan is also expected to reduce unit costs via increased scale, elimination of third-party milling reliance and improved operational flexibility, the investment firm said.The company has also secured approval for development of Waihi underground mine as its third underground operation for AU$90 million.Euroz Hartleys views this as strategically important, with development focused on the high-grade Golden Pole lode recently identified through drilling.The brokerage maintained its buy rating and price target of AU$1.92.

ASX:OBM
Asia

GR Engineering Services Named Preferred Contractor by Ora Banda Mining for Western Australia Expansion Project

GR Engineering Services (ASX:GNG) was appointed as the preferred contractor by Ora Banda Mining (ASX:OBM) for the engineering, procurement, and construction works for a 3-million-tonnes-per-annum process plant as part of the Davyhurst expansion project in Western Australia, according to a Monday Australian bourse filing.The estimated contract value is AU$233 million, and an early works agreement has been executed, the filing said.The company's shares were down nearly 1% in recent Monday trade, while Ora Banda Mining's shares were up about 2%.

ASX:GNGASX:OBM
Asia

Ora Banda Mining Reports Resource Increase at Western Australia Projects

Ora Banda Mining (ASX:OBM) declared an updated mineral resource estimate for its Waihi deposit and Round Dam trend in Western Australia, representing an increase of 1.5 million ounces from July 1, 2025, according to a Monday Australian bourse filing.The company said the total mineral resource estimate stands at 54.8 million tonnes at 2 grams per tonne gold for 3.6 million ounces, with the Round Dam open pit resource increasing 964% to 1.3 million ounces and the Waihi open pit and underground resource increasing 114% to 482,000 ounces.The total ore reserve estimate increased 136% to 7.8 million tonnes at 2.2 grams per tonne gold for 555,000 ounces, with cut-off grades based on gold price assumptions of AU$2,500 per ounce for the Waihi underground ore reserve and AU$3,600 per ounce for Round Dam high-grade material, the company said.Recent drilling at Round Dam is pending assay results and has not been included in the current estimates, with results expected to be incorporated in the annual resources and reserves update for Round Dam, Riverina, and Sand King scheduled for the fourth quarter of fiscal 2026, it added.

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Asia

Ora Banda Mining Approves Construction of Western Australia Processing Plant, Underground Mine

Ora Banda Mining (ASX:OBM) approved the construction of a standalone processing plant at Davyhurst for AU$375 million and the Waihi underground mine for a capital cost of AU$90 million as part of its DRIVE to 300 aspiration, according to a Monday filing with the Australian bourse.Works planned for the processing plant are slated for fiscal year 2027, with commissioning scheduled for the third quarter of fiscal year 2028, while the underground portal will be established in the second quarter of fiscal year 2027 for steady state production to be reached by the first quarter of fiscal year 2028, the filing said.The company expects to fund its next phase of growth through existing cash and anticipated future cash generation, boosted by a starting cash position of AU$232 million and available debt facilities as of March 31, per the filing.

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Asia

Ora Banda Mining's Execution of Exploration Program Creates Strong Foundation for Self‐Funded Growth, Euroz Hartleys Says

Ora Banda Mining's (ASX:OBM) execution of its ambitious fiscal year 2026 exploration program established a solid foundation for self‐funded growth, Euroz Hartleys said in a May 5 note.The exploration program was underpinned by a budget of AU$73 million and roughly 330 kilometers of drilling, an investment that has already yielded a 57% boost in group resources to 3.3 million ounces with more near-term growth on the horizon, the equity research firm said.The company's Waihi gold prospect in Western Australia "is advancing rapidly from a small open pit to portal position for the next underground mine," Euroz Hartleys said.It added that the Riverina and Sand King underground mines are running at steady‐state and appear to be supporting long mine lives, with Sand King continuing to benefit from dual declines and a recent 25% uplift in mined ounces.Euroz Hartleys maintained a buy rating on Ora Banda and raised its price target to AU$1.92 per share from AU$1.88, saying the company "remains a compelling growth story leveraged to exploration success."

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Asia

Ora Banda Mining Appoints Chair-elect

Ora Banda Mining (ASX:OBM) has appointed John Richards as chair-elect, with plans for him to assume the role following the retirement of current Chair Peter Mansell at the company's annual general meeting in November, according to a Tuesday filing with the Australian bourse.Richards is currently non-executive chair of Sandfire Resources (ASX:SFR) and lead independent non-executive director of Sheffield Resources (ASX:SFX), the filing added.

ASX:OBMASX:SFRASX:SFX
Asia

Ora Banda Mining Western Australia Drilling Confirms High-Grade Continuity, Expansion Potential, Euroz Hartleys Says

Ora Banda Mining (ASX:OBM) has delivered strong high-grade drilling results at its Golden Pole lode, supporting underground development potential and resource growth at the Waihi Project near the Davyhurst plant, Euroz Hartleys said in a note on Tuesday.Targeted infill and extensional drilling in the latest 22-hole program returned results, including three meters at 44 grams per tonne grade of gold, including two meters at nearly 65 g/t grade of gold, and 11 meters at 11 g/t gold, including two meters at 48 g/t grade of gold.The firm noted that the results de-risk Golden Pole as a near-term underground development, with consistent high-grade intercepts confirming grade continuity and mining potential.The firm said the project's proximity to the Davyhurst plant supports low-capital intensity growth through potential reserve conversion, with Waihi increasingly seen as a third underground feed source supporting the company's production expansion strategy.Euroz added that ongoing drilling success is expected to support a resource update and maiden underground reserve estimate targeted for the early June quarter, as the company advances its strategy to expand production through inventory growth and infrastructure leverage.Euroz Hartleys kept a buy rating on Ora Banda Mining with a price target of AU$1.88.

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Asia

Ora Banda Mining Confirms Mining Potential of Western Australia Project

Ora Banda Mining (ASX:OBM) confirmed the mining potential of the Golden Pole lode within its Waihi project in Western Australia, according to a Tuesday filing with the Australian bourse.Targeted infill and extensional drilling returned results, including 3 meters at 44 grams per tonne (g/t), including 2 meters at nearly 65 g/t grade of gold, 11 meters at 11 g/t including 2 meters at 48 g/t grade of gold, and 7 meters at almost 17 g/t including 3.5 meters at 31 g/t grade of gold, the filing said.Results will be incorporated into the revised underground mineral resource and ore reserve estimates, expected to be released in the June quarter, per the filing.

ASX:OBM
Asia

Ora Banda's Strong Cash Generation Underpins Ongoing Growth Initiatives, Euroz Hartleys Says

Ora Banda Mining's (ASX:OBM) strong cash generation is underpinning ongoing growth initiatives, Euroz Hartleys said in a note on Thursday.The firm modestly exceeded the analysts' production forecast for the quarter, with free cash flow around 38% above their prior estimate.Its gold production in the March quarter rose 21% to 38,766 ounces from the December 2025 quarter, with 38,637 ounces sold and fiscal 2026 year-to-date production totaling 101,200 ounces. The company said free cash flows of AU$76.3 million lifted closing cash to AU$231.7 million from AU$155.4 million at December 2025.The investment firm maintained its buy recommendation on Ora Banda and raised the price target to AU$1.88 per share, from AU$1.85 per share.

ASX:OBM
Asia

Australian Shares Decline; Ora Banda Mining Posts Higher March Quarter Gold Production

Australian shares fell on Wednesday's close amid optimism about a ​US-Iran ceasefire.The S&P/ASX 200 Index fell 23.70 points, or 0.26%, to close at 8,955.The US and Iran are weighing further talks as mediation efforts continue to prevent the resumption of the conflict in the Middle East. Brent crude oil futures were steady at $95.02 per barrel. Spot gold climbed nearly 1% to $4,830.82 per ounce.On Wall Street, the Nasdaq rose 1.6%, and the S&P 500 climbed 0.8% to reach record closing highs on Wednesday. Meanwhile, the Dow Jones slid 2%.On the domestic front, Australia's seasonally adjusted unemployment rate remained at 4.3% in March, unchanged from the previous month, data from the Australian Bureau of Statistics showed. The total number of employed people increased by 17,900, bringing the total to 14.8 million.Australia's consumer inflation expectations rose by 0.7 percentage points in April to 5.9%, driven largely by a recent spike in oil prices, according to the Melbourne Institute Survey of Consumer Inflationary Expectations.In company news, Ora Banda Mining (ASX:OBM) said gold production in the March quarter rose 21% to 38,766 ounces from the December 2025 quarter, with 38,637 ounces sold and fiscal 2026 year-to-date production totaling 101,200 ounces. Its shares rose 9% on market close.Netwealth Group (ASX:NWL) reported funds under administration of about AU$125.79 billion at the close of the March quarter, up almost 21% from AU$104.08 billion at the end of the same quarter a year earlier. Its shares closed up 6%.Lastly, Viva Energy Group (ASX:VEA) requested an immediate trading halt on the Australian Securities Exchange as it prepares to announce the impact of a significant fire at its Geelong Refinery. The facility, one of only two refineries still operating in Australia, has a processing capacity of 120,000 barrels of oil per day, and it reportedly accounts for 10% of Australia's fuel supply and 50% of the fuel used in Victoria.

ASX 200ASX:NWLASX:OBMASX:VEA
Asia

Ora Banda Mining Posts Higher March Quarter Gold Production, Shares Up 10%

Ora Banda Mining (ASX:OBM) said gold production in the March quarter rose 21% to 38,766 ounces from the December 2025 quarter, with 38,637 ounces sold and fiscal 2026 year-to-date production totaling 101,200 ounces, according to a Thursday Australian bourse filing.The company said free cash flows of AU$76.3 million lifted closing cash to AU$231.7 million from AU$155.4 million at December 2025, after capital investment of AU$52.5 million on capital projects, resource development, and exploration, and AU$4 million on put option premium payments.The gold producer said all-in sustaining costs of AU$3,612 per ounce sold remain elevated primarily due to third-party processing costs, which delivered 10,900 ounces in the quarter, with the company continuing to advance studies toward building a new standalone three million tonne per annum processing plant with a decision expected in the June quarter.The company said its Davyhurst plant achieved throughput of 343,200 tonnes in the quarter, up 17% from the prior quarter, with recoveries of 93%.Ora Banda Mining's shares gained 10% in recent Thursday trade.

ASX:OBM