GOLD-COPPER: Update on Mount Polley spill

BRITISH COLUMBIA – Two weeks after the devastating tailings spill at the Mount Polley gold-copper mine 100 km northeast of Williams Lake, more information about it is reaching the public. The mine is owned by Imperial Metals of Vancouver.

BRITISH COLUMBIA – Two weeks after the devastating tailings spill at the Mount Polley gold-copper mine 100 km northeast of Williams Lake, more information about it is reaching the public. The mine is owned by Imperial Metals of Vancouver.

Last Tuesday the BC Interior Health Authority okayed the resumption of normal water use south of 6236 Cedar Creek Road on the Quesnel River and the majority of Quesnel Lake. The water is deemed safe for drinking, personal use, fishing, swimming and recreational purposes. Separately, the authority's medical health officer declared that all fish taken from the same area are safe for human consumption. (InteriorHealth.ca)

On Friday, Aug. 15, PhotoSat Information circulated a news release saying that it is in the process of accurately calculating the exact amount of tailings outflow from the pond using high resolution stereo satellite photos. PhotoSat said the information will help mine management and engineers more clearly understand the extent of the dam breach during the investigation, repair and remediation. (PhotoSat.ca)

Meanwhile, Imperial has reported Q2 2014 numbers that were far ahead of numbers a year earlier. Total revenues were $51.07 million in Q2 (compared to $41.32 million for the same period of 2013), and net income was $15.21 million ($7.54 million). At the end of June 2014, assets totalled $1.232 billion ($722.16 million). Capital expenditures rose also as Imperial is developing the Red Chris mine. They were $141.8 million in Q2 2014, compared to $8.2 million a year earlier.

Imperial also announced last week that it has secured additional financing in the amount of $100 million that will be used in part, along with funds from insurance and operations, be sufficient to remediate the effects of the tailings spill. The same financing will also be used to complete the Red Chris copper development 80 km south of Dease Lake. (ImperialMetals.com)

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