"Water, water everywhere and nor a drop to drink."We tend to expect both good and bad, but not the ugly in these interim reports. Ugly is when you bail.
“The underground crush and convey system completion has been delayed to January 2024, allowing RAM to focus their efforts on completion of the more critical Geho project as well as addressing delays in concrete pours due limited to underground access on certain levels.”
“Commencement of stope mining was deferred to November 2023 to allow underground mining crews to address water management and hoisting priorities. Stockpile of ore on surface is sufficient to provide current mill feed. The mine encountered a water bearing structure while driving an access ramp which necessitated a focus on grouting and water management in advance of the Geho pumps being available.”
“Through the remainder of Q4 2023, Nevada Copper anticipates continued improvement in mill stability and mill throughput rate”
Recovery rates are good as was reported here three weeks ago. I find this notice to be less useful than a more fully detailed report on limited access, if we are to understand the nature and scope of problem and all the steps that mgt. has done to mitigate! Sometimes the company only reports problems when they can at the same time claim resolution yet to come.
I don’t follow this company as closely as once did, but this is the first time I’ve heard about water restricting access afte rossing the dike. The fact that the mine continues to encounter highwater levels should not be a surprise to anyone after reports dealing with water issues for YEARS! It seems the mgt. can only report delays retroactively when a solution can be promised, but often not delivered or delayed.
I can’t help but wonder at the tonnage milled, “The process team continues to make operational and mechanical improvements in preparation for the mill operating at nameplate capacity by the end of 2023.” What improvements are needed for a mill that was operational and had reached (?) capacity earlier?
It’s good news but some details are missing tthat would allow a better understanding of their progress.
Not to worry: We have a Vice-president of Public Relations. I wonder what one does all day as a VP of a small mining projet in Nevada besides publishing a reprot every few months.
I'm like Billy Beane, I like to "keep the money on the field."
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