Ora Banda Mining (OBM) H2 2026 earnings summary

Executive summary

• Achieved record revenues of $807.5 million for FY26, a 100% increase year-over-year.

• Net profit after tax rose 16% to $216.2 million, despite a $97.7 million non-cash tax expense.

• Record gold production and sales, driven by the ramp-up of the second underground mine, Sand King.

• Operating cash flow surged 124% to $426.7 million, supporting significant investments in development and exploration.

Financial highlights

• Revenue doubled to $807.5 million compared to $404.3 million in FY25.

• EBITDA increased 134% to $431.1 million; EBIT up 172% to $313.3 million.

• Free cash inflow rose 184% to $214.5 million; closing cash at $267.7 million, up 218%.

• Average realised gold price increased 32% to A$5,742/oz.

• All-in sustaining cost (AISC) rose 30% to $3,496/oz sold.

Outlook and guidance

• Expanded resource and reserve base with 75% increase in Mineral Resources and 159% in Ore Reserves.

• Over $468 million in available liquidity, positioning for continued growth.

• Put options and collars provide gold price protection through June 2028.