Ora Banda Mining Ltd (ASX: OBM) shares have been on fire since hitting multi-year lows on 1 August.
Shares in the S&P/ASX 200 Index (ASX: XJO) gold stock closed yesterday trading for $1.605. In late morning trade on Thursday, shares are changing hands for $1.625 apiece, up 1.3%.
For some context, the ASX 200 is up 0.2% at this same time.
With today's lift factored in, Ora Banda shares are up 111.4% over 12 months and up a whopping 153.9% since the 1 August close.
The Aussie gold miner has been a clear beneficiary of a surging gold price. At the current US$4,627 per ounce, the gold price is up a blistering 72% since this time last year.
But Ora Banda has hardly been sitting idle.
Here's what the ASX 200 gold stock just reported.
Ora Banda shares lift on gold results
Investors are bidding up Ora Banda shares again today after the miner reported on continued exploratory drilling success at its Waihi Project, located in Western Australia.
The targeted follow up exploration drilling was focused on the Golden Pole Lode within Waihi. Initial drilling by Ora Banda, reported on 4 September 2025, confirmed the presence of a new lode in the hanging wall of Golden Pole.
The ASX 200 gold stock said the latest drill program continued to expand the mineralisation area with thick, high-grade gold results.
Ora Banda reported top results, including:
- 0m at 27.4 g/t Inc. 2.0m at 87.5 g/t
- 2m at 56.3 g/t Inc. 1.8m at 67.7 g/t
- 2m at 36.9 g/t Inc. 1.9m at 41.9 g/t
Atop its promising intercepts at Golden Pole, Ora Banda said that its current 97-hole program across its broader Waihi Project continues to deliver "outstanding results".
What did management say?
Commenting on the strong gold results helping boost Ora Banda shares today, managing director Luke Creagh said:
These outstanding results continue to support the case for Waihi to be Ora Banda's third underground mine, with drilling right across the Waihi package returning high-grades, excellent widths and the potential for further extensions of the mineralised system, all within three kilometres of the Davyhurst Processing plant.
Furthermore, the identification of a brand-new lode to the West of Golden Pole highlights the incredible opportunity within the package, opening up another exciting zone for exploration at Waihi.
Ora Banda shares will be one to watch, with the ASX gold miner reporting it has already designed an additional 20 holes for immediate infill and extensional drilling on the Golden Pole Lode.
