VAU 6.67% 35.0¢ vault minerals limited

rrc summary this week

  1. 1,327 Posts.
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    End of week summary

    1. Tailings dam TSF4 issue debated; undredrain valves closed for 3 weeks due to bore pump breakdown (as per MD GM speech Oct 2013); other water sources clearly available. TSF4 water table rises due to closure of underdrain valves; freeboard issue discussed; end result was the embankment became supersaturated and collapsed under own weight (as per MD speech Oct 2013 GM). Clearly freeboard was not maintained as beach became supersaturated; freeboard was not maintained; daily visual inspections were not carried out. Tailings dam TSF4 became a ticking time bomb; failure was inevitable.

    2. Tailings dam TSF3 was decommissioned in favor of a ROM pad; the spillway linking TSF4 to TSF3 likely gone or diverted elsewhere or compromised.

    3. The Philippines mining ACT 1995 and amendment DENR 99-32 1999 debated; "Sufficient freeboard shall be maintained" a 1 in 100 year flood event shall be taken into account.

    4. Tailings dam TSF4 became a ticking time bomb as the spillway between TSF4-TSF3 was likely gone or compromised. In the event of a severe flood TSF4 could have failed catastrophically causing devastation to the surrounding region. One poster describes overtopping as a casual event but when question again replied; oh I mean overtopping at the spillway; but there was likely no spillway!

    5. One poster when asked do you believe in the Philippines Mining Act 1995 replied; "Do I believe in the mining act of 1995? Broadly no as it is interpreted as whatever people want."

    Closing Summary; many issues were debated; it is disturbing to discover from HC posters the lack of respect for the Philippine authorities and the mining act which was painstakingly developed to protect their citizens and environment.
 
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