TORONTO (miningweekly.com) – TSX Venture Exchange-listed Metanor Resources dropped almost 22% on Monday, after an accident at the company's Bachelor Lake mine, in Quebec, with reports that one person was killed and two remained missing.
The three workers – two employees of Metanor and one employee of a mining contractor - were in the shaft on Friday night when the gold mine flooded, the Canadian Press reported.
All mining operations had been suspended, and one body was recovered on Monday, according to the report.
The company was not immediately available to comment, but the Canadian Press said that rescue operations were still under way in the hope of finding the other two men, but indicated that the chances of their survival appeared slim.
The Bachelor Lake mining complex was mined during the 1980s.
The company currently produces gold from ore mined at the nearby Barry openpit and processed and the Bachelor Lake facility.
It has been working on rehabilitating and dewatering a section of the old Bachelor Lake mine, and had planned to restart mining operations next year.
By July 2010, the firm had aimed to be producing approximately 70 000 oz/y, with the mill operating at 1 200 t/d with 700 t/d coming from Bachelor Lake and 500 t/d from the Barry openpit.
Metanor shares fell C$0,12 on Monday, to C$0,45 a share by 15:59 in Toronto.