Revett Provides Update on Troy Mine Activities; Shares Edge Near Low
Revett Minerals Inc. ( RVM ) issued an update on monitoring activities at its Troy Mine in northwest Montana, reporting that all underground activities were suspended by the company in mid December following the assessment of unstable ground conditions in non active mining areas that RVM deemed unsafe for the continuance of day to day underground operations.
Working with the National Institute for Occupational Safety and Health (NIOSH), the company collected data that suggests that ground conditions have stabilized. Based on this information, RVM will seek to re-enter underground workings in order to complete inspections of underground infrastructure and equipment and to install further geophone monitoring devices.
RVM did not offer a resume date.
RVM is down 0.7% at $2.80, trading in the low end of the stock's 52-week range of $2.68 - $5.11. Shares have fallen 41% in the last 12 months.
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