The process of dewatering the Perkoa Mine in Burkina Faso by Trevali Mining (TSX: TV) following a flood that occurred nearly a month ago on April 16 appears to be moving at a slower than desired pace. That pace however appears to be simply due to the massive amount of water contained within the mine.
The company this morning indicated that in the last two weeks it has removed approximately 32 million litres of water from the mine, lowering the water level from the 520 level to the 550 level at the mine. The lowest level at the mine comparatively is the 710 level – meaning over 210 metres of water is remaining to get to the bottom of the mine.
As for the search and rescue operation, none of the eight missing miners have yet been located by the company. Search crews are said to be working 24 hours a day as it works to locate the missing miners.
At the same time, the company continues to work towards rebuilding 5.0 kilometres of the underground decline ramp into the mine. Two weeks ago the company indicated 3.6 kilometres of the access ramp had been repaired thus far, however an update on that specific figure was not provided this morning.
It remains unclear just how much rehabilitation is to be required for the mine to continue operating.
Trevali Mining last traded at $0.88 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.
