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Ora Banda Mining awards $10.8 million Davyhurst EPC contract to GR Engineering

Ora Banda Mining Ltd (ASX:OBM) (FRA:M6N) has awarded the engineering, procurement and construction (EPC) contract associated with the restart of the Davyhurst Gold Processing Plant in Western Australia to GR Engineering Services Limited (ASX:GNG).

The contract is worth A$10.8 million and will be undertaken on a fixed price basis which includes a provisional sum component.

GR Engineering managing director Geoff Jones said: “GR Engineering is pleased to have been awarded the EPC contract for the Davyhurst Restart Project.

“We are excited to be working with Ora Bandas management team and look forward to Ora Banda becoming Australias newest gold producer.”

Scope of works

The scope of works includes the refurbishment, optimisation and recommissioning of the existing 1.2 million tonnes per annum Davyhurst Gold Processing Plant, borefields and associated infrastructure.

Work will start immediately and is expected to be completed in the first quarter of 2021 when gold production is also forecast.

A$55 million capital raising

To support the restart plan Ora Banda has completed a placement and institutional entitlement offer bookbuild for $51.7 million and is undertaking an underwritten retail entitlement offer for another A$3.3 million.

The company received firm commitments of arRead More – Source