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Revett Mining Company, Inc. (DE Message Board

  • dbtunr dbtunr Mar 3, 2013 10:20 AM Flag

    so what happened here?

    Objectively, what happened here? There were two "events". First a very wet and cold winter caused some "rock fall" in the mining areas. The company is very responsive to rock fall as a miner was killed 4-5 years ago. They stopped mining and notified MSHA. Then a few weeks later there was 3.5 earthquake which caused more rock fall and partial collapse of the secondary escape route.

    In both of these events, none of the mining equipment was damaged, no one was hurt, and the company was not issued any violations by MSHA. In some ways, if the first event did not happen, there could have been injuries from the second event. The part of the mine being fixed is not an active mining area; it is a secondary escape route should their be a collapse of the primary escape route.

    So their is no question that the mine will re-open. It is just a matter of when. All the silver and copper is still there. The equipment is sitting their fine. No one was laid off. Preventive maintenance has been performed on all equipment. Everything is good to go as soon as they clear the secondary escape route.

    The mine will re-open. The stock will rebound.

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