Re: learned a lot this week tau
in response to
by
posted on
Jan 31, 2010 03:31AM
Creating shareholder wealth by advancing gold projects through the exploration and mine development cycle.
tau - good question as to what happened Cigar Lake. I asked Keith, the geo who's on West Millenium for Kodiak, about the Cigar Lake situ. Terrible. They had huge million-dollar steel doors to keep the areas of the mine separate from the shaft, knew they had a severe water problem, and figured they'd open the door with the flood problem to see what they could do. They opened the door ... and all h*ll broke loose ... huge wall of muck and water, flooded the mine quickety-split, no possible way to close the door after that. One problem was the mine foreman, head office, head union guy, safety, etc. etc. all shouting different instructions so that essentially nothing got done. So it's flooded half-way up the shaft, and the chance of fixing it are ... pretty slim. I think we'll see men on Mars sooner (Chinese men, probably). It's a huge set of lakes above Cigar Lake and they'll flood it endlessly. All second-hand info but a pretty good source.
Of course, all that is good for us - less supply. In any case, there are more uranium deposits than what they can mine for decades to come, even though there is a shortage coming of refined uranium. The reason for the huge prices is control over the market. I don't care - pay us either way.
We have a really good shot. If it's there, then we're extremely lucky to get so close already.
Yes, lots of water above West Millenium too - the smart mine managers know that and 1st rule is don't wall it off - manage it instead. Anyways we're not mining it so not our problem.
Portee, you are naughty. I'm trying to make peace here, sent a few fur-smoothing messages already. We value all our posters, right? Bun fights will be put down, or move to st*ckhouse and shack up with the idiot brigade over there (ok now I'm the one who's being naughty!). Good posts, made me laugh too.