Revett Minerals Inc RVM

RE: RE: RE: RE: RE: RE: RE: RE: RE: RE: Cheap

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On November 21st and 22d, 2012, 3.18 inches of rain fell in Troy, Montana.  Per Shanahan,  this heavy rainfall caused groundfall in the A & C Beds as well as knocking out electric power underground.  On December 1st, Shanahan scaled back operations at Troy due to unsafe conditons underground.  In the  December 3rd  PR, Shanahan discloses publicly for the first time the issues at Troy, referring to the collapse opaquely as "difficult ground conditions" (btw 'difficult ground conditions' is the exact same phrase used by CDE in its regulatory filings explain the production declines at galena due to 800ft of shaft collapsing.) On december 17, 2012 Shanahan announces all mining operations at Troy are suspended due to 'difficut undgerground geotechnical conditions' and that the MSHA is requiring RVM install geophones in troy to monitor the potential of addtional underground workings collapsing.  Shanahan said he would have Troy producing again in two weeks.  On january 2, 2013 Shanahan told the public the in the last couple weeks of monitoring the geophones in troy did not pick up the shockwaves of any more underground groundfall so the MSHA has deemed it safe to reenter Troy to inspect her underground workings.  Shanahan asked for our patience as he missed his first production deadline.  On January 22, 2013, Shanahan, in a regulatory filing, said that the main haulage route had collapsed at the point where it crosses the fault, that the North Orebody is flooded and has also had groundfall, thus the commencement of pumping and scaling.  Extent of damage to A & c beds is unknown since access is restricted due to groundfall.  Shanahan gives no potential target for resumption of production.  On February 5, 2013, Shanahan finally discloses publicly that the rains of 21-22Nov 2013 not only collapsed the main haulage route from the South Adit but also the secondary escape route and that a new secondary escape route will have to be excavated before MSHA will allow Troy to reopen.  New drifts are being driven to bypass the collapse on the main haulage route as well as to bypass collapses restricting access to A & C beds.  North orebody is still flooded and being pumped out and loose rock scaled.  Shanahan says completing this essential development work at troy will take 8-10 weeks though this timeline may change if additional damage to Troy mine is uncovered in the intervening time.