Up 115% since August, Ora Banda shares leaping higher today on record gold production

Ora Banda Mining Ltd (ASX: OBM) shares are charging higher today.

Shares in the S&P/ASX 200 Index (ASX: XJO) gold stock closed yesterday trading for $1.315. In early morning trade on Thursday, shares are changing hands for $1.375 apiece, up 4.6%.

For some context, the ASX 200 is up 0.1% at this same time.

Taking a step back, Ora Banda shares have gained 19% in 12 months. And investors who stepped in and bought the dip at the 1 August closing price of 64 cents a share will now be sitting on gains of 114.9%.

Here’s what’s piquing ASX investor interest today.

Ora Banda shares surge on record production

Ora Banda shares are jumping higher today following the release of the ASX 200 gold stock’s March quarterly update (Q3 FY 2026).

The three months saw the miner achieve an all-time high quarter production of 38,766 ounces of gold. That’s up 21% quarter on quarter.

Ora Banda sold 38,637 ounces of gold in Q3, bringing its FY 2026 total gold sales to 101,200 ounces.

One headwind for Ora Banda shares is the miner’s elevated production costs. The company reported an all-in sustaining cost (AISC) of $3,612 per ounce of gold sold. Management said this was largely driven by the increased cost of third-party processing. They added that studies towards building a new standalone 3 million tonne per annum (mtpa) processing plant are advancing. They expect to announce a decision on the standalone plant in the June quarter.

Core achievements over the March quarter included an updated 1.3 million ounce Mineral Resource for the miner’s Round Dam project.

With free cash flows of $76.3 million over the three months, Ora Banda held a closing cash balance of $231.7 million at the end of the quarter, up 49% from 31 December.

What did management say?

Commenting on the results helping boost the Ora Banda share price today, managing director Luke Creagh said:

The team has done an outstanding job with the ramp-up of operations during FY26 with this quarter showing a 21% increase in ounces produced over the December period which has delivered $76.3 million in free cash flow after substantial investments into future growth projects.

Over the quarter, Ora Banda spent $52.5 million on capital projects, resource development, and exploration.

Creagh noted:

Our exploration activities continue to deliver outstanding results including high grade intercepts from Golden Pole, discoveries at Little Gem (Sapphire Trend) and the release of a significant 1.3 Moz Mineral Resource for Round Dam.

These have been made possible through the company’s $73 million FY26 investment into exploration and resource development across the Davyhurst Project.

The post Up 115% since August, Ora Banda shares leaping higher today on record gold production appeared first on The Motley Fool Australia.

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Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.