2 ASX Gold Stocks That Just Hit Major Milestones

Gold continues to be one of the most reliable hedges against uncertainty, and Australian miners remain at the forefront of this story. Two names — Ora Banda Mining (ASX:OBM) and Ramelius Resources (ASX:RMS) — have just reported FY2025 results that highlight major steps forward. While at different stages in their journey, both companies are showing progress that could capture investor attention in the year ahead.

Ora Banda Mining (ASX:OBM) — A Junior Finding Its Stride

Ora Banda has spent years trying to unlock the potential of its Davyhurst Gold Project in Western Australia. FY2025 results show the hard work is paying off, with the company shifting from being seen as a speculative explorer to proving itself as a credible gold producer.

FY2025 Highlights

• Stronger Operations: Production levels increased year-on-year as the processing plant and mining fleet achieved more consistent performance.
• Revenue & Cash Flow: Higher gold output combined with supportive prices boosted revenue, providing a healthier cash position and operational flexibility.
• Exploration Momentum: Drilling success across the Davyhurst region has extended mine life potential, with encouraging hits at Riverina and Missouri.
• Clearer Strategy: Management continues to focus on efficiency, cost control, and extending production visibility, signalling a more disciplined approach than in past cycles.

Why It Matters

For a company of Ora Banda’s size, the step from explorer to sustainable producer is often the most difficult. The improved numbers give credibility to its turnaround story and suggest the market may have underestimated its medium-term potential.

What’s Next for OBM

• New Drill Results: Watch for exploration updates, particularly from Riverina, which could add meaningful ounces.
• Production Guidance: Any FY2026 guidance signalling rising output would be a strong catalyst.
• Strategic Moves: Ora Banda sits in a region crowded with producers — consolidation or joint ventures remain a real possibility.

Ramelius Resources (ASX:RMS) — A Mid-Tier Delivering Scale

While Ora Banda is proving itself, Ramelius has already built a reputation as one of Australia’s most reliable mid-tier gold producers. FY2025 results reinforced that view, showing consistent delivery across operations while continuing to return cash to shareholders.

FY2025 Highlights

• Record Group Production: Output landed at the upper end of guidance, underlining operational strength.
• Earnings Growth: Net profit after tax rose year-on-year, benefiting from strong gold pricing and disciplined cost management.
• Shareholder Returns: The board declared a final dividend, maintaining its policy of rewarding investors while funding growth.
• Pipeline Strength: Development work at the Penny underground mine and ongoing expansion at Mt Magnet provide multi-year production visibility.

Why It Matters

Ramelius is now firmly positioned as a reliable cash generator. With a clean balance sheet and strong project pipeline, it is not only sustaining dividends but also reinvesting for future growth. This mix of income and upside is rare among mid-tier producers.

What’s Next for RMS

• Penny Underground Progress: Successful ramp-up here will be a key growth driver in FY2026.
• Mt Magnet Expansion: Any updates on reserves and mine life extensions will underpin long-term visibility.
• Potential M&A: Ramelius has been active in acquisitions before; further moves could add scale.

Risks to Consider

• Gold Price Volatility: Both companies are highly leveraged to gold prices, which can shift quickly.
• Rising Costs: Western Australian operations continue to face inflationary pressure on labour, energy, and consumables.
• Exploration Uncertainty: For Ora Banda especially, future value relies on turning drill success into mineable ounces.

Bottom Line

Ora Banda and Ramelius represent two different but complementary ways to play Australian gold. Ora Banda is the smaller, higher-risk turnaround story, with operational improvements and exploration upside that could deliver outsized gains if it keeps executing. Ramelius, meanwhile, offers scale, consistency, and dividends — a more defensive way to gain exposure to gold while still tapping into growth.

Together, they highlight the spectrum of opportunity in the ASX gold sector: from juniors proving themselves to established producers consolidating their mid-tier status. For investors bullish on gold’s outlook, both stocks deserve a close look.

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