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p1928

02/14/13 9:03 AM

#61606 RE: sanbrunobaby #61600

I think the bond will stay with the property for eventual clean-up. It might get recalculated to a smaller amount based on satisfactory work done; or even increased due to increased scope of operations/footprint. Certainly the environmentalists will insist on maintaining a bond in a satisfactory $ amount.

M_T_Pockets

02/14/13 2:54 PM

#61667 RE: sanbrunobaby #61600

Everything costs money, Bruno. However most of the work needed to meet the completion of the recovery of the old settling ponds is earth moving. There is a company that has been working with CGFI for years doing the necessary excavation and trucking. (Maisel trucking I believe is the name.)
As far as environmental groups, that part of the process is over. If they had objections, they missed two chances at the scheduled hearings to have their say. However the recovery of the ponds is considered environmentally helpful. It is riding the area of a blight on the land. Some of the groups have already come out in favor of the recovery.
So what is left to finish? Ensure the integrity of the liner of the ponds, cap the liner with sand, then larger aggregate, and finally one layer of clay and another of topsoil. Seeding with natural grasses and wildflowers will make the pond blend into the environment.
Now, the dry stack enclosure falls into a different process. It will be under its own TR,(still needing to be approved by the DRMS) and definitely will require cash or credit. But the repository won't be a long build process. I have seen estimates discussed here that put it at about 4 to 6 weeks at most to have the area ready to accept tailings. (The clear span goes up in a week!! The footings and retainer wall will be the long lead items it seems.)
I hope this gives you a better insight into the process that CGFI faces. From an industrial project point of view, it really is a relatively fast track process. Particularly considering that both these items time schedule can overlap.