Post by
KenoHillYT on Oct 05, 2024 8:07pm
SECOND time around do it RIGHT. :)
As per the Oct 1st PWC report:
Thanks Badger. :)
"97. In order to determine the composition and stratification of the HLF and what work may be required to reinstate the HLF, a site assessment must be completed. As of the date of this First Report, the Receiver has contracted Northern Sonic Drilling & Consulting (“Northern Sonic”) to conduct borehole drilling and is in the process ofcontracting with NewFields Canada Mining and Environment ULC (“NewFields”) to
complete the assessm ent and design required for the reinstatement of the HLF"
I suspect this will be horizontal drilling as the HLP stability is still unknown?
Based on this report it is absolutely clear PWC, YTG and FN understands the potential value of the mine and what is still left in the ground.
Don't throw away all those "worthless" shares yet.
Maybe those "guaranteed" shorts won't be so cozy anymore... LOL
Other than the "getting and spending" currently described by PWC (to be expected)the numbers being expensed are staggering for a $650m +/- mine. In that was $150m +/- for "consulting, engineering, etc." If I remember correctly in rough #'s.
I believe and I could very well be wrong (that's OK) but my litmus test for total env remediation and to get the mine operational again is $250M notwithstanding PWC's fees.
It's well worthwhile to reopen the mine, but this time the HLF/HLP needs to be absoulutely bullet proof and should the unthinkable occur of an earthquake or some other direct hit, the solution needs to be able to controlled and dealt with.
And that means building it so the workers can understand in simple terms what needs to done operationally. We're not all PHD's and mind readers. OK!
So Engineering throw away all your "slide rules", computerized data modelling, assumptions and get back to basics. The first go round was a disaster.