Issue link: http://resourceworld.uberflip.com/i/107613
mining Revett Minerals remains financially strong and bullish by Andrew Duval Revett Minerals Inc. [RVM-TSX] is a large silver and copper producer in the US state of Montana. Like many mining companies, their operations sometimes experience down time due to unanticipated ground control concerns. Production from the company's Troy Mine in Lincoln County slowed down in the fourth quarter of 2012, despite producing 1.115 million ounces of silver and 7.55 million pounds of copper up to November 30. As of December 17, 2012, the company announced the temporary suspension of underground operations at the mine. The company made the decision after utilizing the expertise of their geotechnical consultants who recommended the installation of geophone monitoring devices to record and analyze seismic data. Geophones convert ground movement or displacement into voltage, which may be recorded. The recorded data from the geophones allows the company to review ground conditions on a daily basis, and enables them to determine if it is safe to enter the mine and continue production. CEO John Shanahan noted that "although it has been a difficult quarter, we are pleased with the way that our management and employees have identified and managed this situation. There have been no lost time accidents during this quarter and the company remains in a strong financial position. We expect to be operating the Troy Mine for many years to come, so a cautious approach to current underground conditions is consistent with our approach to being a safe and responsible operator." In a January 2, 2013 news release, the company stated that in the previous two weeks they had worked with the National Institute for Occupational Safety and Health (NIOSH) to install the seismic monitoring devices underground. Data collected from those devices indicated that ground conditions had stabilized. The company now seeks to re-enter the underground workings in order to complete inspections of underground infrastructure and equipment, and to install further geophone monitoring devices. The Troy Mine hosts proven and probable reserves of 10.53 million tons grading 1.18 ounces per ton silver and 0.47% copper. These numbers produce reserves of approximately 40% silver and 60% copper by value. The measured and indicated resource estimate on the property total 63.72 million tons grading 1.29 ounces per ton silver and 0.60% copper, representing ExcellonResources.com TSX:EXN • Mexico's Highest Grade Producer La Platosa Mine 800+ g/t Ag • Low Net Cash Costs $5.29/oz Ag-2011 $5.30/oz Ag-2012YTD • Fully-Funded Exploration $22M cash flow (2011) Mexico's Highest Grade Silver Producer • CRD/Source-Style Discovery 55M @ 130 g/t Ag; 3.11% Pb; 1.69% Zn; 0.075 g/t Au • Market Opportunity Yet to be Valued Discovery in a Rising Silver Market PDAC 2013 - Visit us at Booth 2107 74 www.resourceworld.com Excellon Resources Inc. 20 Victoria Street, Ste 900 Toronto, Ontario, Canada M5C 2N8 Investor Relations Contact: Joanne Jobin 416 364 1130 info@excellonresources.com february 2013