Revett Reports Q1 2012 Operations
(firmenpresse) - SPOKANE VALLEY, WASHINGTON -- (Marketwire) -- 04/30/12 -- Revett Minerals Inc. (NYSE Amex: RVM) (TSX: RVM) is pleased to announce first quarter 2012 production results from its Troy Mine, located in northwest Montana. Currency is reported in United States dollars unless otherwise indicated.
Troy Mine Q1 2012 Operating Highlights include:
Development work continues in the north C Bed decline and production ore is expected to be accessed by August 2012. In addition, pending final state and federal agency approvals, we expect to commence I Bed development in September, 2012. Development of the I Bed mine area will take approximately two years to complete.
Production for the first quarter 2012 was approximately 8% below our previously announced guidance of 4,000 tpd primarily due to availability and retrofitting of equipment as we move towards higher bio-fuel usage and meeting revised DPM (diesel particulate matter) emission standards. Lower than planned copper grades were encountered as we advanced top slicing in the C Bed area and as a result of increased lower grade production from the South Ore Body.
Taking into consideration adjustments for seasonal factors, along with slight variations of our mine work plan, our 2012 production guidance of 1.4 million ounces of silver and 11.5 million pounds of copper remains unchanged.
Release of Quarterly Financial Results and Conference Call
Revett plans to release financial results for the first quarter on Thursday, May 10, 2012 and hold its quarterly conference call on Friday, May 11, 2012 at 11:30am Eastern Time. To join the conference call dial 1-888-231-8191 or 647-427-7450 internationally.
About Revett
Revett, through its subsidiaries, owns and operates the currently producing Troy Mine in Lincoln County, Montana and development-stage Rock Creek Project located in Sanders County, Montana, USA. The proven reserves at the Troy Mine and significant resources at the Rock Creek project form the basis of our plan to become a premier mid-tier base and precious metals producer. Revett plans on expanding production through exploration in and around its current properties, as well as through targeted business combinations of advanced stage projects.
John Shanahan, President & CEO
Except for the statements of historical fact contained herein, the information presented in this press release may contain "forward-looking information" within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. Generally, these forward looking statements can be identified by the use of forward-looking terminology such as "expects", or "does not expect", "is expected", "is not expected", "budget", "plans", "schedule", "estimates", "forecasts", "intends", "anticipates", "or does not anticipate" or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will", "occur" or "be achieved". Forward-looking statements contained in this press release include but are not limited to statements with respect to estimated production for 2012 and anticipated development work in the north C bed decline and I bed. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while conidered reasonable by management, are inherently subject to significant uncertainties, risks and contingencies. Actual production and development could be affected by development risks and production risks which may include a range of issues such as grades, equipment failure, accidents, and geologic formations and unanticipated cost increases as well as those factors discussed in the section entitled "Risk Factors" in the Form 10-K filed on SEDAR at and with the SEC on EDGAR. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Revett does not undertake to update any forward-looking statements, except as required under applicable laws.
Contacts:
Revett Minerals Inc.
Monique Hayes
Corporate Secretary/Director of Investor Relations
(509) 921-2294
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Datum: 30.04.2012 - 15:00 Uhr
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News-ID 140635
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