We’re all dealing with preliminary and incomplete information so I’m not going to point fingers at anyone. I have no idea what your technical background is but you speak in fairly definite terms. You’ve managed to slag off the management, geotechnical engineers and constructors all on the basis of a one page announcement and two photos.
I think you are underestimating the sensitivity of tailings dam issues in the mining industry at the moment. This is a big deal because it directly affects their social licence to operate. I think management have done the right thing in being cautious in halting operations in general, even if they have some flexibility with stockpiling ore or whatever. This is a political issue as much as a technical one now. Look at how BHP got roasted over Samarco. A few days or weeks of lost production is chicken feed compared to the wider damage if they keep operating and there are further problems (particularly given that Cadia is a cash cow).
If they were to deposit into another dam then they’d need to have slurry and return water piping/pumping in place. I’d imagine they are rechecking the integrity of the rest of the walls too. All of this takes time and I’m sure is being carried out properly, by people with the appropriate expertise, for the reasons I mentioned above.
NCM Price at posting:
$20.22 Sentiment: Hold Disclosure: Not Held
