Post by investor74on Jan 05, 2025 9:39am
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Post# 36388363
Good update
Good updateThe fear trade is pretty much done imo. Damages are fairly low, no injuries and no real damage to mine itself. Great action plan and even if it will take months (I say 6), with the existing Pilar and Santa Isabel mine pullling around 50000 oz, they will be way ok. No debt, 43M US$ cash. They will have a fine and will have to fix this mess, and will have criminal charges like it's standard in Brazil for any cases, but I doubt any purpose wrongdoing. Also if all slopes were per standard tailings code, and show no failure to follow EXISTING CODES, then the fines won't be able to be that high. Actually the Brazil government does annual checks with mine operators so they are aware somehow of this mine. They knew about existing slope and geometry of tailings among many others and imo no strong indication to change things in any urgency. Otherwise they would have done it. Mainly a large bulldozer and dump truck job and they would move large amounts of tailings to the adjacent Faina old open pit (1.5 km away). Just have to waited out and the actual share price discounts pretty much the worse. We should end at the same level just 1 yr later. Cheers