Issue link: http://resourceworld.uberflip.com/i/107613
82.4 million ounces of silver and 759.75 million pounds of copper. The mine is an underground room and pillar operation, with conventional flotation used in the processing plant. For these types of mines, monitoring is especially important as miners are working in large underground rooms or cavities that are prone to failure as overlying rocks can create unstable ground conditions. The technical report, published in 2004 and amended January 27, 2005, showed that the Troy Mill will operate seven days a week at 6,500 tons per day to produce a copper-silver concentrate. The milling process includes crushing, grinding and flotation and has historically processed ore at a nominal rate of 8,500 tons per day and achieved recoveries averaging 86% for copper and 87% for silver. Based on the current mine plan for 2012, which includes 30 to 40 foot mining widths, with mining coming primarily from the top slice, mill throughput is anticipated to average 4,000 tons per day. High metal prices and a successful ongoing drill program have allowed the company to add resources and reserves each year. The area surrounding the Troy Mine hosts Revett's Rock Creek development stage project. The company has had to address environmental concerns that accompany a project situated beside a river in a sensitive wildlife area (in this case a grizzly bear habitat). They are currently waiting on a Record of Decisions (RoD), a public document that explains which cleanup alternatives will be used, and permitting approvals. Once they acquire these critical permits, the next step will be the construction and development of the evaluation adit. This evaluation program should take an estimated 18-24 months to complete, and will further define the technical aspects of the project and result in a revised economic feasibility study. Assuming a positive feasibility study, and the receipt of necessary construction permits and project financing, Revett intends to develop the mine at 10,000 tons per day. The company's most recent financial update was published in November 2012. They recorded an income of US $5.9 million or US $0.17 per share, in the first nine months of 2012 and US $4.4 million or US $0.13 per share for the third quarter of 2012. The company's working capital also increased 19% from US $27.8 million in quarter three to US $33.1 million in quarter three of 2012. Investors are currently awaiting year end results, which will include the mine shutdown at the end of 2012. Even though there was a mine slowdown, Shanahan mentioned that they are operating at a positive cash-flow. No doubt Revett Minerals is eager to get back into commercial production to take advantage of higher prices for copper and silver which appear to be on the horizon in 2013. n GCR: TSX-V "Exploring the untapped potential of the Gaspé region" The largest land position (over 600 sq/km) ever put together in an under-explored area of Québec. Sylvain Laberge 514 380 5610 514 702 9841 slaberge@gespegcopper.com www.gespegcopper.com february 2013 www.resourceworld.com 75