UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of
earliest event reported) January 20, 2015
REVETT MINING INC.
(Exact
name of small business issuer in its charter)
Delaware |
46-4577805 |
(State or other jurisdiction of incorporation) |
(IRS Employer Identification No.)
|
11115 East Montgomery, Suite G
Spokane Valley,
Washington 99206
(Address of principal executive offices)
Registrants telephone number: (509) 921-2294
Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligations of the registrant
under any of the following provisions (see General instructions A.2. below):
[ ] Written communications pursuant to Rule 425
under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14 a-12
under the Exchange Act (17 CFR 240.14a -12)
[ ] Pre-commencement communications pursuant to
Rule 14d-2(b) under the Exchange act (17 CFR 240.14d -2(b))
[ ] Pre-commencement communications pursuant to
Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))
Item 8.01. Other
On January 19, 2015, Revett Mining Company Inc. (the Company)
announced that it will place the Troy Mine on care and maintenance due to low
metals prices. Development work to the I Beds will cease immediately and milling
operations will continue through to the end of January 2015. An orderly shutdown
will take place during the month of February with the expectation that
development and operations may resume in a more favorable metals price
environment.
Since resuming milling operations in mid-November 2014, the
Company has produced 27,053 ounces of silver and 159,121 pounds of copper to
date from limited mining operations in the C Beds. An additional estimated
40,000 tons of ore will be processed through the mill as part of the orderly
shutdown. The I Bed development drift has been extended beyond the North C Bed
production area with 5,400 feet of development drifting remaining to reach I Bed
mineralization.
Item 9.01 Financial Statements and Exhibits.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
|
REVETT MINERALS INC |
|
|
Date: January 19, 2015 |
By: /s/ Ken Eickerman |
|
Ken Eickerman |
|
Chief Financial Officer
|
Exhibit 99.1
Revett Places Troy Mine on Care & Maintenance
SPOKANE VALLEY, WA January 19, 2015 Revett Mining
Company, Inc. (NYSE MKT:RVM / TSX:RVM) (the Company) announced today that it
has decided, due to low metal prices, to place the Troy Mine on care and
maintenance. Development work to the I Beds will cease immediately and milling
operations will continue through to the end of January 2015. An orderly shutdown
will take place during the month of February with the expectation that
development and operations may resume in a more favorable metals price
environment. The Company will continue to focus on Rock Creek permitting efforts
with the expected issuance of the draft Supplemental Environmental Impact
Statement issued for public comment by mid-2015.
Since resuming milling operations in mid-November 2014, the
Company has produced 27,053 ounces of silver and 159,121 pounds of copper to
date from limited mining operations in the C Beds. An additional estimated
40,000 tons of ore will be processed through the mill as part of the orderly
shutdown. The I Bed development drift has been extended beyond the North C Bed
production area with 5,400 feet of development drifting remaining to reach I Bed
mineralization.
John Shanahan, Revetts President and CEO stated, Although
this is a difficult decision, it is important to note that redevelopment efforts
at Troy have been successful. Unfortunately, at current metal prices, commercial
operations are not sustainable in the near term. We believe that in a higher
metals price environment, it may be possible to recommence operations at Troy
and complete development to the I Beds. We are very proud of the efforts and
accomplishments of our operating team during the past two years. Placing the
Troy Mine on care and maintenance will conserve cash while we focus on Rock
Creek permitting and preserve Troy as a viable deposit for possible future
development.
About Revett
Revett Mining Company, through its subsidiaries, owns and
operates the 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 Revett's plan to become a premier mid-tier base and precious metals
producer.
John Shanahan
President and Chief Executive Officer
For more information, please contact:
Monique Hayes, Director Investor Relations at (509) 921-2294 or
visit our website at www.revettmining.com.
11115 East Montgomery, Suite G, Spokane Valley, WA 99206
509-921-2294 fax 509-891-8901
Except for the statements of historical fact contained herein,
the information presented in this news release may contain "forward-looking
statements" within the meaning of applicable Canadian securities legislation and
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 "plans", "expects", or "does not expect", "is expected", "is not
expected", "budget", "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 be taken", "occur" or "be achieved".
Forward-looking statements contained in this news release include but are not
limited to those relating to our ability to resume production at the Troy Mine
following the shutdown in a more favorable metal price environment, as well as
our ability to achieve permitting of Rock Creek or the Companys expectation
that the Rock Creek SEIS will be issued for public by mid-2015. Our ability to
achieve these goals are dependent on a number of factors including having the
financial capability to operate the Company during the care and maintenance
phase, to restart production at the Troy Mine and continue our efforts to obtain
permitting of Rock Creek. Forward looking statements are necessarily based upon
a number of estimates and assumptions that, while considered reasonable by
management, are inherently subject to significant business and economic
uncertainties, risks and contingencies and those factors discussed in the
section entitled "Risk Factors" in the Companys Form 10-K filed on March 27,
2014 with the Securities and Exchange Commission (SEC) and also filed on SEDAR
at www.sedar.com. 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 Mining Company does not undertake to update
any forward-looking statements except as required by applicable securities
laws.
11115 East Montgomery, Suite G, Spokane Valley, WA 99206
509-921-2294 fax 509-891-8901
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