seconds from disaster, page-4

Yes pacf united, I have stock, as do several of my friends.

The annoyance for me is that this was solvable within weeks of the subsidence even tho they had decommissioned the larger tailings dam. From what I have seen the tubes would have worked a treat and given them some time to re-commission the larger tailings dam. The reality is that they probably didn’t even think of the idea until it was too late. The decommissioning of the larger tailings dam was the nexus to their problem and like a game of chess with Kasparov they were destined to lose.

Of the likelihood of loss, the company must have huge contractual commitments to the two mining contractors, loan repayments to the bank, and have spent millions on numerous small capital projects, plus the rehabilitation of the dam wall. I haven’t done an analysis of what their treasury must look like but I think you can assume most of $25 million is gone or spoken for.

The only chance they have is to swallow their pride and use the tubes immediately while re-commissioning the larger dam. THEN they can prevaricate a much as they like with the design and construction of a new dam. But they have to do it NOW!