Revett Minerals (RVM.TO; NYSEMKT:RVM) has announced an update regarding the suspended activities at their 100% owned Troy Mine in Montana, USA.
After suspending mining operations at the Troy Mine in December, the company was able to re-gain access to underground workings to start inspections of the equipment. The most important equipment such as the crusher and conveyor belt seem to be unaffected by the difficulties. Revett will go investigate the South adit next week, which will give us a better impression of which zones have been affected by the seismic activities, and how severe the damage is.
Revett produced 1.16Moz of silver and 7.5M lbs of copper in 2012 and was able to produce 161koz of silver and 1M lbs of copper in Q4 2012. Total operational cashflow for Q4 was $0.2M.
Obviously the company hasn’t given a formal guidance for 2013 yet, as they still don’t know when they’ll be able to resume their operations at the Troy Mine.
Disclosure: Revett Minerals Inc. is a sponsoring company. We own shares (see disclaimer) and naked put options. Please see our disclaimer for current positions.