The problem seems to be that the flood waters eroded the bund wall causing it to fail. The bund wall may have been designed to hold say a 1-100 year event but the erosion and failure of the bund wall shouldn't be what happends if the water over tops the bund.
Interestingly the TSF had no issue handling the rainfall event. I believe under the standard the TSF has to be designed with freeboard for a 1 in 100 year, 72 hour event. This assumes that the TSF is full when the rain commences, which it presumably wasn't. If the rain is a 1 in a 1000 year event then water will flow over the spillway of the dam. I would've thought a similar sort of condition should exist for the design of the bund.
Anyway, I'm sitting on the sidelines looking for an entry. If these guys are the smooth operators the market says they are then this event will allow them to show their strengths.
RRL Price at posting:
$2.60 Sentiment: None Disclosure: Not Held
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