RED 1.79% 41.3¢ red 5 limited

Dam Construction Delays

  1. 2,482 Posts.
    lightbulb Created with Sketch. 127
    After this post I will have a break from posting on RED

    In the last quarterly they say the following:

    190,000t stock pile
    Will resume pit mining in April
    Stage 1 of tailings storage facilities can take 375,000t
    Stage 2 constructions of tailings storage facilities start in April

    Waiting now for the next quarterly report to see what information we get
  2. 1,327 Posts.
    lightbulb Created with Sketch. 9
    Might be worth noting that despite all the hullabaloo about RED’s new found dewatering technology back in 2013 and throughout 2014, the base of the pit was flooded less than two months ago based on the same satellite photo (27/01/15); we didn't hear about that in the quarterly (or other ASX announcements) even though costs are likely involved to remove the water and or mud from the pit; again the shareholder is not informed as required by the Aust Corp Act 2001. In fact all we heard was no mining till April; now a blockade is in place and still no announcement. By my calculation the lake at the base of the pit measures about 150m by 100m. Go figure?

    You can, however, confirm they are using the two smaller lined tailings dams to the west of the processing plant that now have less than three months of production capacity.

    Sat_New_Dam_2.jpg
 
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