"The Company is pleased to announce that no staff or contractors were injured during the flooding and site management are currently evaluating the extent of any damage to the mine sites, haul roads and the accommodation camp. Further heavy rains predicted for the region have not materialised and measures are in place to ensure that mining and haulage operations recommence as soon as management is satisfied that it is safe to do so."
Information sourced from http://www.crescentgold.com.au/
Laverton received 110mm of rain by 9am on Thursday 17 February, a further 40mm fell throughout the day, swiftly filling creeks and sending water rushing through the streets.
Information sourced from http://www.abc.net.au/local/videos/2011/02/18/3142512.htm
TBH that amount of rain in a short time is immense however the company is focussing on returning to BAU (business as usual) as soon as possible. I would be more concerned if instead of that statement it had "A full review of the damage to operations is under way and an update to the market will be advised in due course".
Possibly I am just being too optimistic however happy to ride with this one.
DYOR.
CRE Price at posting:
9.8¢ Sentiment: ST Buy Disclosure: Held
