It would have cost Russian oligarch Vladimir Iorich (owner of Pala) less money if Nevada Copper (NCU.to) had been sanctioned. Instead, the US authorities “ignored” Pala Investments and sure enough, the brilliant plan has paid off. Now Russia has to send over even more money to The USA:
The Underground Mine encountered operational and geotechnical challenges in the latter part of May that are expected to delay stope mining in the East South mining area and result in reduced concentrate production for the second quarter of 2022. Access to planned stopes for the months of June and July have been delayed due to an unidentified weak rock structure being encountered in the main ramp to the East South Zone that requires additional drilling and geotechnical mitigation work to reinforce the area prior to proceeding. This, together with the limited access to the main ramp, slower than planned development and longer backfill cycles, has resulted in lower than anticipated development ore production. These challenges have caused an expected delay of most of the stope ore production until August. Management is reviewing the full operational impact that these events will have on production and plans are also being developed to reinstate the restricted East South stoping areas.
IKN’s First Law of Mining New Releases in full operation on this NR.
“The IKN First Law of Mining News Releases: Considering that anything contained in a mining news release is presented in the best possible way for the company in question, any piece of information contained in a NR that comes across in any way negative means the real news and/or events behind it must be very, very bad indeed.”