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Ora Banda pegs 43% lower cost for remedial work at Davyhurst gold plant

Ora Banda Mining Ltd. said Aug. 2 that it slashed the estimated capital cost for remedial work at the Davyhurst gold project's processing plant in Western Australia by 43% to A$8.5 million, including a contingency cost of A$840,000, at the conclusion of a detailed review.

GR Engineering Services Ltd., which conducted the study, estimated that remedial work and recommissioning will take 24 weeks. The work will begin after a definitive study for the operation is complete.

The former Eastern Goldfields returned to the ASX in June after emerging from administration.