"For my part, I would way prefer that my mine took all reasonable precautions against harming its people."
100% agree.
I understand that Cadia East is using a 'new' and 'low cost' mining method. It is also understandable that some problems may occurs when trying a new method. For example, the new method may be more sensitive to seismic event. Otherwise, there should be no problems. What you said about rock mechanics happens to all underground mines and there may be hundreds of them in NSW, if including coal mines and others. Why only Cadia East were hit by 'Major Seismic Event' again and again? BTW, a 'major' quake in geology specifically refers to the magnitude between 7.0 and 8.9.
No mistake, I am a NCM share holder and hope '$40 by end of the year', and will definitely add more at 20. I am just a bit unhappy on the wording in the announcement. Sounds like an excuse to find time to fix some design problems, because the production was already lower in Q1 before the quake.
NCM Price at posting:
$21.16 Sentiment: Buy Disclosure: Held
