Steadily climbing, strong results further boost ASX stocks Ora Banda Pantoro
Pantoro Gold and Ora Banda Mining have made their shareholders happy with standout returns supported by their excellent operating performance and leverage to higher gold prices.
Ora Banda Mining Limited (ASX: OBM)
on 15 January 2026 announced that drilling at the Golden Pole Lode within the Waihi Project delivered multiple thick, high-grade gold intercepts which expanded the mineralisation envelope and strengthened the case for Waihi to become the company’s third underground mine.
The company delivered a standout September 2025 quarter with record gold production of 30,595 ounces which represented a 39% increase quarter-on-quarter driven by the continued ramp up of the Sand King underground mine and improved processing performance at Davyhurst.
This strong operational performance translated into improved financial outcomes as the company achieved record gold sales of 31,336 ounces at a realised gold price of $5,390 per ounce while AISC declined sharply by 20% to $2,872 per ounce which lifted margins.
Ora Banda now has a market capitalisation of $3.11 billion and the stock has more than doubled over the past 12 months which reflects strong operating execution.
The company ended the quarter with a strong cash balance of $122.7 million despite ongoing investment in mine development and exploration activities.
Pantoro Gold Limited (ASX: PNR)
on 14 January 2026 announced that infill drilling at Daisy South returned high-grade intersections which support the existing mineralisation model and an updated open pit mining study.
The stock has surged around 10% year-to-date while Mine design and planning are underway with Daisy South expected to be developed alongside the Gladstone Everlasting Open Pit in the next two years.
The company aims to unlock the full value of its fully owned Norseman Gold Project which is regarded as one of the highest-grade goldfields within the Yilgarn Craton.
Pantoro announced on 4 December 2025 that extensional drilling confirmed high grade mineralisation extending up to 135 metres below the current Indicated Resource and this result increased confidence that the Scotia area can evolve into a long -life underground operation while delivering multiple very high- grade intersections including results above 30 grams per tonne and some exceeding 100 grams per tonne gold.
The company currently has a market capitalisation of $2.13 billion and reported gold production of 19,551 ounces for the September 2025 quarter.
All in Sustaining Costs for the quarter were $3,139 per ounce while EBITDA reached $53.9 million which reflects solid operating performance.
Pantoro maintains a strong balance sheet with $181.5 million in cash and gold as at 30 September 2025 and no debt which provides flexibility to fund development while operating cash flow for the quarter stood at $48.66 million.
Looking ahead, the company plans to drill approximately 250,000 metres during FY2026 and management reaffirmed full year guidance of 100,000 to 110,000 ounces at an AISC of $1,950 to $2,250 per ounce which reflects confidence in accessing higher grade stopes in the upcoming quarters.
(Source: Company Announcements)
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