Hi, All I have seen seems to suggest that hmb got the fine monies back. Only mention of it in the investors report, see hmb website, is "Reestablishment of relationships with local authorities and environmental agencies and successful appeal against the prior environmental claims". Hope this helps a little. The whole report makes for pretty interesting reading.
I do not seem to have seen any significant news recently regarding the hefty fine incurred in respect of the "minor" tailings dam leak that polluted a nearby waterway and nearly sank HMB. Have I missed something - or is recovery of some or all of the fine already paid generally considered to be a lost cause?
The announcement that we have been waiting for. This revision of estimated reserves is fantanstic however, I would suggest that the more important details released are that of the other site with the acquisition of geological mapping and the moving towards application of licenses for reserves there. Those estimated reserves make current location seem fairly small, and so when licenses are granted this share will really fly as will production.
The plant is capable of processing 850K tpa which equates to 140K oz gold p/a if the grades are to be believed.
So the main bottleneck right now is getting enough u/g ore out the ground to achieve this magical 100K oz p/a. Both Assays and TD have referred to 2017 as the target year when this will be achieved. So really alot has changed but nothing really. They must still be planning on doing some form of stoping. It's just the development of these shafts.
Right now, they're more confident (or maybe more optimistic) of the ore body. It is looking much fatter than before with the continued in-fill drilling.
It's the uncertainty of how we going to pay for these shafts and the 3p convertible loan glass ceiling that is going to put a damper on the party.
I do like their "let's do this!" enthusiasm... gold fever must be setting in.
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