Finally some good operational news from Revett Mining (RVM.TO, NYSEMKT:RVM) after the company had to suspend production at the Troy mine in Montana almost two years ago. Revett has intersected mineralization in the North C Bed ore body and will start up its underground crush circuit. The company estimates it will be able to crush and stockpile approximately 25,000 tonnes of ore before it will re-start the mill sometime next month. As the re-development of the Troy mine will continue over the next several months and quarters, the average daily throughput of the mill will be lower than its name plate capacity of 4,000 tonnes per day.
Revett is over half way in re-developing the access to the I-Bed ore zone, and once this zone will be reached and accessed again, the company will gradually increase the mill throughput to the planned level of 4,000 tonnes per day. Keep in mind that before the production had to be shut down, Revett was producing approximately 1.2 million ounces of silver and almost 10 million pounds of copper per year. Unfortunately the commodity prices haven’t really been cooperating, as silver is trading at just $17/oz and copper at $3/lbs.
> Click here to read the press release
Disclosure: The author holds a long position in Revett Mining. Revett is a sponsor of the website. Please see our disclaimer for current positions.
