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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (67875)	11/4/2009 12:30:19 PM
From: alpharomero.com	Respond to of 78408

MTO stock bounced back nicely. It appears the currently producing mine is still in production from yesterday;s Press Release. It will obviously set-back their plans to mix ores from both Barry and Bachelor. Key points, IMHO, are (1) whether the water intrusion is catastrophic and (2) how much of a distraction the "authorities" will be in the next few months.

To: LoneClone who wrote (67875)	11/4/2009 1:43:35 PM
From: E. Charters	Read Replies (2) \| Respond to of 78408

jpthoma1 might know more than I about that particular mine. I know it's fairly serious. Maybe not a show stopper in that they were able to dewater and find the bodies. However given that it flooded there has to be a major program and rethink. No way they can afford that happening twice. It may lead to shutdown. At the very least I can see they will be grouting, screening, and installing emerge pumps for the next 6 months. I think it depends on the outcome of the investigation, both theirs and third party. What they may have needed was a system to allow warning. You would think that the flood had to be sudden and catastrophic to trap the men. The lack of ability to use escape raises or go between levels is troubling. Most mines you could get out by ladders to the next level from any stope, as there is round circuit ventilation. Did they go to work in a dead end heading and fail to see the water rising? Should there have been alarms in place which could have prevented it? We have to see exactly what happened before further comment on the nature of the situation. Belmoral was shut down for a time due to their problem. I never heard exactly what happened there. West Ray was fundamentally a mystery as well in the final analysis. It was a faulty motor (maintenance?) at West Ray but the blame has a way of rising up to the top no matter the cause. EC<:-}