NYSEAM:RVM - Post by User
Post by
Flopticalcubeon Oct 16, 2013 9:53am
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Post# 21819429
Troy Mine Update... ouch!
Troy Mine Update... ouch!Bottome line: 1 more year and $12m in costs
https://www.marketwatch.com/story/revett-minerals-inc-troy-mine-update-and-i-bed-development-plans-2013-10-16-8173162?reflink=MW_news_stmp
Continued dewatering and inspection of the Lower Quartzite haulage route have revealed unexpected structural instability, which the company feels does not meet its standards of safety for further development. As a consequence, the Company has decided it will not resume mining operations using the Lower Quartzite haulage route, as originally planned, but will instead construct a new development decline to the North C Bed and I-Bed deposits in the Lower Revett Formation. Mine facilities such as the underground crusher, conveyor system and surface mill will remain on a care and maintenance basis until production resumes. The Lower Quartzite haulage route will remain an important access point for ongoing mine dewatering and ventilation.