More than a week after the initial flooding event, Trevali Mining (TSX: TV) is still dealing with the immediate impact the weather event has had on its operations at its Perkoa Mine. The company this morning indicated that it is still continuing search and rescue efforts for missing miners, while also revealing its rehabilitation efforts.
The eight missing workers at the Perkoa Mine have yet to be found by the company, with Trevali said to be working with Burkina Faso authorities on the matter. The workers are said to have been working below the 520 level at the time of the flooding event, and may or may not have been able to access two refuge chambers that exist at such depths.
The company has yet to make communication with these miners.
In terms of mine rehabilitation, the company has repaired the ramp that was the primary access point to the mine, with rehabilitation now completed to the 520 level, where the company is still fighting flooding. The access ramp is said to have been repaired as far as 3,643 metres, with 1,400 metres roughly to go before arriving at access levels for the lower sections of the mine.
Both communications and electricity have been restored to the 520 level. A five kilometre long pipeline has also reportedly been installed to take water from this level to surface as the firm begins dewatering efforts. Pumping capacity at the open pit mine has also been doubled as the company works to prevent the issue from occurring again.
Both mining and milling operations at Perkoa are to remain suspended “for the foreseeable future.” The company last week suspended its production guidance for the mine, which last year accounted for over half its revenue.
Trevali Mining last traded at $1.05 on the TSX.
Information for this analysis was found via Sedar and Trevali Mining Corp. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
