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Revett Minerals Provides Update On Troy Mine

|Includes:Revett Mining Company, Inc. (RVM)

"Since the suspension of underground activities in December 2012, Revett has ... undertaken efforts to identify a viable and safe route back into the previously established mining areas. ...Yesterday afternoon, our operating team, along with our geotechnical consultant and an MSHA representative were able to inspect an area extending approximately 400 feet south of the D Drive to current water levels. Initial observationsreveal safe travel conditions to this point.

... If assessments and inspections continue to indicate no further structural damage at the Lower Quartzite level, then theCompany could possibly resume mining operations as early as the fourth quarter of 2013.

... We remain cautiously optimistic that the remainder of this access route will meet our standards of safety, but we cannot be categorically sure until all inspections are complete. ...

Disclosure: I am long RVM.

Stocks: RVM