Revett Mining (RVM.TO, NYSEMKT:RVM) has released an update on its attempts to bring the Troy Mine back into production before year’s end. The company has developed almost 2/3rds of the required 7,500 ft distance to get to the C-Beds and remains on schedule to reach the C-Bed this quarter which means the company is still on track to restart production before the end of this year. As previously said, we aren’t expecting full production to restart before half 2015, as after reaching the C-Beds, Revett will have to construct another 5,900 feet decline to access the I-Beds.
It’s been a more than 18 months since Revett has produced silver and copper, but we’re hopeful to see the company being able to restart the mill before the end of the year, albeit at a lower throughput than the 4,000 tpd nameplate capacity.
At Rock Creek, the US Forest Services are still completing the Supplemental Environmental Impact Statement, and once a draft of this SEIS will have been released, a public consultation period will begin. Additionally, the company received a draft permit to discharge stormwater from Rock Creek during the Phase I activities. The public comment period on this draft permit ended in May and we are awaiting the official outcome of the public consultation period.
> 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.
