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.